Commercial Real Estate
Commercial v. Residential Properties
Whether you are a novice undertaking your first commercial real estate transaction or a seasoned developer negotiating a complicated deal, you may find that the intricacies of these transactions are often complex. To further complicate the situation, many consumer protections afforded to residential real estate transactions do not apply to commercial properties. Zoning and land use issues and tax implications may come into play. Each deal is unique and presents its own set of nuances. Our commercial real estate attorneys have the experience and knowledge to advise you on the most complex issues and negotiate fair terms in even the most intricate transactions.
A Comprehensive Approach to Commercial Real Estate
Any number of legal issues can impact your commercial real estate transaction whether you are buying, selling or leasing the property in question. Delays in concluding your transaction can be costly for your business. Because these issues can arise at any time up to and including the final moments before closing, seeking the guidance of an experienced commercial real estate attorney from the outset of your transaction is advisable.
At Donnelly Minter & Kelly, we offer comprehensive commercial real estate services, including the purchase and sale of commercial properties, commercial leasing, and conveyance. Our attorneys are also astute in the areas of corporate commercial law, condominium law, easements, eminent domain, environmental law, and zoning, planning and land use laws. With our extensive experience, our commercial real estate attorneys advise you on such matters and negotiate complex transactions in your best interest.
Titles and Deeds
While the title gives the holder thereof rights to use a specific property and to transfer all or a portion of his or her interest in that property to another party, certain contract issues can impact those rights.
- Liens on a property can prevent the seller from selling that property or make the buyer responsible for the monies owed by the seller.
- Easements allow another party access to your property or a portion of it, impacting your ability to use the affected portion of your property as you see fit.
- Encroachments can result in boundary disputes and open the door for another party to lay claim to a portion of your property.
- Encumbrances such as deed restrictions also can limit your use of your property.
Many of the above issues should be identified through title search, thus avoiding any resulting problems. However, records pertaining to ownership and boundaries may not be as complete and accurate as they should be, especially when dealing with older properties. Provisions to avoid related problems should be considered at the time of your transaction.
Commercial Property Insurance Matters
Many legal disputes arise from misunderstandings involving the insurance coverages for a commercial property. Commonly this insurance covers the buildings, furnishing, equipment and inventories. A property owner or lessee may expect the insurance to cover the replacement cost of an item, while these policies often cover only the current market value of that item. A thorough review of your commercial property insurance coverage can help clear up such misunderstandings. This review can also ensure that your policy complies with rules specific to commercial properties given your usage or intended usage of said property.
Zoning and Land Use
Zoning and land use laws determine how a commercial property can be used and what can be built on the site. Because these laws are established at the local level and can vary from municipality to municipality, it is almost impossible for the property investor to keep abreast of the current regulations. Working with these laws on a regular basis gives our commercial real estate attorneys up-to-date knowledge that, in turn, benefits you when we represent you in your commercial property transaction.
There are various commercial leasing options available, each of which assigns different rights and responsibilities to the parties involved. Knowing which type of lease agreement is best suited to your business can prevent issues from arising in the long term.
Federal, state and local governments all have laws designed to protect the environment. These laws strive to reduce pollution of our air, water and land by restricting specific activities and imposing certain responsibilities on commercial property owners. Most risks associated with these issues are manageable, but they first must be identified; otherwise, they can result in substantial, costly liabilities for the property owner ranging from fines to clean-up costs.
Donnelly Minter & Kelly Areas of Commercial Real Estate Focus
Commercial Real Estate law encompasses many legal issues including, but not limited to, the following:
- Buying and Selling of Businesses
- Commercial Leasing
- Condominium Law
- Cooperative Housing Law
- Eminent Domain
- Environmental Cleanup
- Environmental Law
- Environmental Permitting
- Homeowners’ Association Law
- Leases and Leasing
- Property Law
- Zoning, Planning and Land Use
Commercial Real Estate Attorneys
Before embarking on your next commercial real estate transaction, consider the services Donnelly Minter & Kelly can provide. We will advise you on all legal matters involved in your transaction as well as the compatibility of the transaction with your business; negotiate the most complicated deals; and fully document all stages of the deal to ensure everything is in proper order.
Whether you currently are, or plan to be, a buyer or seller of a commercial property, you can rely on the experienced legal team at Donnelly Minter & Kelly, LLC to handle the intricacies of your complex Commercial Real Estate transactions. Contact us today.