Charlotte Commercial Real Estate Lawyers

Find the right Commercial Real Estate attorney in Charlotte, NC

Commercial Real Estate Law in North Carolina

Commercial Real Estate Law in Charlotte, North Carolina is any form of land or permanent structure which isn't utilized for residential or industrial purposes, and is instead used for a business involving the buying and selling of goods or services.

The laws in Charlotte, North Carolina which govern commercial real estate differ significantly from the laws governing the rental and purchase of residential real estate.

When renting or buying residential real estate, renters and buyers have significant legal protections which often don't apply to commercial real estate.

For instance, residential real estate is covered by laws concerning rent control, living conditions, and other things relevant to buildings where people will be living. Most of these protections don't apply to commercial real estate, because the law assumes that the average business person is a bit more sophisticated in such dealings than the general population, and because a place to do business is generally less important than a place to live. However, the most basic protections, such as protection from fraud and deliberate concealment of defects, still apply.

Common Commercial Real Estate Law Issues in Charlotte, North Carolina

Financing: The majority of small businesses in Charlotte, North Carolina can't afford to make large real estate purchases with the money they have in the bank. Nevertheless, buying real estate is sometimes essential for a business' survival. This problem is sometimes remedied by taking out a mortgage; a loan used to buy property, with that same property being used to secure the loan.

Disclosure of Defects: Sellers of real estate have an requirement to inform prospective buyers of any defects present in the property, such as water damage and other structural problems. Essentially, if the defect is significant enough that it might affect a reasonable buyer's decision on whether or not to purchase the property, and the seller knows about it, it must be disclosed. Failure to disclose such defects would give a buyer the right to sue the seller, and recover significant damages, including the cost of repairing the defect, compensation for any injuries or illness caused by it, and the reduction in the property's value caused by the defect.

Duty to Inspect: Lest you believe that the duty to disclose defects relieves any duty of diligence on the part of the buyer, the law will not reward such lapses with a major cause of action. Buyers have a duty to conduct a reasonable inspection of the property before they buy it, usuallyy with a licensed building inspector. If the buyer fails to do this, they won't be able to recover any damages for defects which they could have discovered through a reasonable inspection.

Encumbrances: Undisclosed encumbrances are defects of another sort: defects of title. An encumbrance is any interest that a third party has in the Charlotte, North Carolina commercial real estate. These usually take the form of easements, which are rights held by third parties to use the land for a specific purpose. Easements can have profound effects on how a new owner can use the land, so it is crucial to know about them before buying.

Can a Charlotte, North Carolina Attorney Help?

Because of the importance and potential complexity of the issues surrounding commercial real estate, it's almost always judicious that, before engaging in any real estate deal, you seek the counsel of a good Charlotte, North Carolina real estate attorney.

Talk to a Real Estate Law Attorney now!

Life in Charlotte

Charlotte, North Carolina is the seventeenth largest city in the U.S. with a population of approximately 1,754, 524. What is interesting is that Charlotte has become a major financial center in the U.S. being the second largest banking center in the country after New York City. That being said, it is natural that Charlotte has a strong legal presence. Charlotte is filled with many law firms that practice in all areas of law. Thus, Charlotte residents will always have their legal needs met with sharp attorneys and competent law firms.

If one wants to take a break from the financial and legal industry, there are a lot of attractions to see! Popular attractions include the US National Whitewater Center, the NASCAR Hall of Fame, the Levine Museum of the New South, Mint Museum Uptown, UNC Botanical Gardens, Charlotte Museum of History, and the Charlotte Bobcats Arena. Evidently, Charlotte has something for everyone and is definitely a place worth visiting.

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