Commercial Real Estate Law in Texas

Commercial real estate is any type of land or structure in Haltom City, Texas which is used for business purposes, primarily the sale of goods and/or services to the public.

The laws covering commercial real estate in Haltom City, Texas are quite different from those applying to residential real estate.

Buyers and renters of residential property enjoy some pretty significant legal protections, because the law of most states presumes that shelter (being necessary to survive, for the most part) is more important than business. Therefore, many of these consumer protections don't apply to commercial real estate.

These absent protections include rent control, and warranties of habitability, among others. The most basic protections, such as prohibiting sellers of real estate from lying about the property to the buyer, apply in any context, however.

Common Commercial Real Estate Law Issues in Haltom City, Texas

Financing: The majority of small business owners in Haltom City, Texas probably can't afford to buy much real estate outright, with cash paid up front, so most small business purchase commercial real estate with a mortgage. A mortgage is a loan taken out for the purpose of buying real estate, using that real estate as collateral for the loan.

Concealment of Defects: Sellers and lessors of commercial real estate are under a duty to disclose any defects in the property which might impact the buyer's decision to purchase it, such as water damage, mold, or other structural problems. These defects are quite common, and the buyer has a right to know about them. If the seller doesn't disclose these defects, where they exist, the buyer can sue for any harm this causes.

Duty to Inspect: This is a companion to the duty to disclose defects. Generally, buyers of real estate are expected to inspect the property. If they fail to conduct a good inspection, they might not be able to recover damages if they are harmed by any defects which an inspection would have revealed.

Encumbrances: Undisclosed encumbrances are defects of another sort: defects of title. An encumbrance is any interest that a third party has in the Haltom City, Texas 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 essential to know about them before buying.

Can a Haltom City, Texas Attorney Help?

These issues are sometimes complex, and almost always very important. Therefore, it's essential to seek the assistance of a Haltom City, Texas real estate attorney if you have any dealings in this area.