Midland Commercial Real Estate Lawyers

Find the right Commercial Real Estate attorney in Midland, TX

Commercial Real Estate Law in Texas

Commercial real estate is any form of land or structure in Midland, Texas which is utilized for business purposes, mainly the sale of goods and/or services to the public.

The Midland, Texas laws regulating commercial real estate differ significantly from the laws that cover residential and other types of real estate.

Most of the protections that buyers and renters of residential real estate enjoy rarely apply to renters of commercial real estate.

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

Common Commercial Real Estate Law Issues in Midland, Texas

Financing: Most small business owners in Midland, Texas don't have the money to buy real estate with the cash on hand. Nonetheless, there is a solution to this problem, permitting people without massive sums of money (but with a steady income) to buy real estate: the mortgage. A mortgage is a loan used to buy real estate, and the real estate being bought is used as collateral for the loan.

Duty to Disclose Defects: It is of the utmost importance that sellers and lessors of commercial real estate be up front about any defects that might be present in the property. Failing to disclose them can be bad, and actively concealing them can be much worse. In general, if a defect is significant enough that it would influence a reasonable person's decision to buy a piece of property, and the seller knows about it, the seller should disclose it. Failure to disclose can have significant results. If the buyer later discovers the defect, they can sue for the cost of repairing it, or for any reduction in the property's value caused by it. And, of course, if it causes any injuries, the buyer can sue the seller for those, as well.

Duty to Inspect: While buyers of real estate have some substantial protections with respect to defects, they also have some obligations. Before finalizing a purchase, buyers are expected to undertake a reasonable inspection of the property, usually by using a licensed building inspector. If the buyer fails to conduct an inspection, they typically won't be able to successfully sue, if defects are discovered after the purchase.

Encumbrances: Encumbrances are defects of a different type: rather than physical defects, they are defects of title. In Midland, Texas, an encumbrance is an interest in a piece of real estate held by a third party, such as covenants or easements. An easement is a right held by someone to use the property of someone else for a specific purpose. For instance, a person might have an easement on the land of another person, allowing them to cross the land to access a public road.

Can a Midland, Texas Attorney Help?

These issues can be very complicated, and most people consider such financially-weighty decisions to be very essential. If you are one of those people, it's a smart move to contact a Midland, Texas real estate attorney if you are facing any of the issues discussed above.

Talk to a Real Estate Law Attorney now!

Life in Midland

Midland is located in Midland County, Texas. It is located in Texas's Southern Plains region. Some of Midland falls into Marin County. As of the 2010 census, Midland has a population of 111,147 people.

Top employers that drive the economy include Warren Equipment Companies, the Midland Independent School District, the Midland Memorial Hospital and Medical Center, Dawson Geophysical, Midland College, Patterson Drilling UTI, ATT Wireless, and Key Energy Services. Midland is also home to many law offices and small firms that practice in various legal practices. Thus, residents and businesses of Midland can rest assure because any and every legal need of theirs can be easily handled by Midland's legal force.

Famous residents include Michael Arden, Kahty Baker, Cedric Benson, Raymond Benson, Barbara Bush, Jeb Bush, Jenna Bush, Mike Conaway, Leeon D. Davis, Don Evans, Kenn George, Tommy Franks, Spud Webb, Larry L. King, and Eileen Wilks.

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