Chandler Commercial Real Estate Lawyers
Commercial Real Estate Law in Arizona
In Chandler, Arizona, "commercial real estate" is any type of land or building which is used for a business, as opposed to residential, purpose.
The laws governing real estate in Chandler, Arizona apply differently when dealing with commercial, as opposed to residential, real estate.
When renting or buying residential real estate, renters and buyers have considerable legal protections which often don't apply to commercial real estate.
Some of the protections that don't apply to commercial property include warranties of habitability, rent control, and warranties of quiet enjoyment. There are others, as well. The most basic protections, however, apply to buyers of both residential and commercial real estate, including remedies for fraud and concealment of physical or title defects.
Common Commercial Real Estate Law Issues in Chandler, Arizona
Financing: Some small businesses in Chandler, Arizona find it necessary, at some point, to purchase a piece of real estate, for various reasons. However, most owners of small to medium-sized businesses can't afford to make a real estate purchase up front, with the cash they have on hand. Simply put, very few people have hundreds of thousands of dollars just sitting in the bank. One solution to this is a mortgage, which is similar to most other types of secured loans: a bank lends you money, and you put up some piece of property as collateral, so the bank has some security in the event of default. With a mortgage, however, the property being purchased with the loan also secures the loan, permitting the bank to foreclose on it in case the buyer defaults.
Concealment of Defects: if the seller of commercial property acts to conceal a significant defect in the property, and then sells the property, he will be accountable for any harm this defect cause, as well as the reduced value of the property, or the cost of repair.
Buyer's Duty to Inspect: typically, buyers of commercial real estate are expected to inspect the property before buying it. A failure to do so might prevent the buyer from prevailing in a lawsuit if he is hurt by physical defects that an inspection would have revealed, and that the seller didn't know about.
Encumbrances: An encumbrance is some small ownership interest in land held by a third party, or some right held by a third party to restrict the use of a parcel of land. A frequent encumbrance is an easement. In Chandler, Arizona, an easement is some right of some third party to make limited use of land owned by someone else. For example, cable companies often purchase easements from property owners (or they are imposed by the government) allowing them to string cable wiring from the telephone wires on the street to nearby houses. Like any other property right, the holder of an easement can prevent others from interfering with it. Obviously, if a buyer doesn't know about an encumbrance on a piece of land, he might find that he's unable to make the use of the land that he was expecting.
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Can a Chandler, Arizona Attorney Help?
These issues are sometimes difficult, and almost always very important. Therefore, it's necessary to seek the assistance of a Chandler, Arizona real estate attorney if you have any dealings in this area.
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Life in ChandlerSince the 1950s, Chandler, Arizona has been growing in population, diversity, and economic growth! Chandler is home to many attractions. For the nature-lovers, the Veterans Oasis & Environmental Educational Center have over 100 acres of wetlands and desert perfect for hiking, fishing, biking, and picnics. Those who love to skate will enjoy spending time at the Chandler Skate Park, a 35,000 square-foot park used by skateboarders and in-line skaters.
A very unique attraction is Rawhide, a 1880s themed western town with shootouts, wagon rides, burro rides, gold panning, etc. Rawhide opened in Chandler in 2006 and has been a favorite of the locals and tourists since!
Chandler's historic downtown is filled with shops, restaurants, and galleries. There is also a quaint garden filled with antique shops and an old-fashioned ambiance. On the first Wednesday of every month, local artists display their work for everyone to enjoy, and hopefully buy. Located near downtown is Chandler Historical Museum, a museum free to the public with many exhibits displaying the city's rich history.
Chandler is also famous for the Ostrich Festival and Jazz Festival. The Ostrich Festival is a family event with ostrich races and other "ostrich-themed" activities. There is also music, parades, a carnival, and great food. The Festival originates from the city's tradition of Ostrich Ranching. Similarly, the city has an annual traditional event-the Jazz Festival. This is a weekend long event where many jazz musicians showcase their talent for the public to enjoy!
Since Chandler is viewed as one of Phoenix's most prominent suburbs, residents of Chandler have access to the large firms and legal market of Phoenix. Additionally, there are many smaller firms and solo-practitioners with law offices located in Chandler, guaranteeing attorneys who are focused on zealously representing their clients. Therefore, everyone's legal needs are met. Moreover, Chandler residents are fortunate to have a more personalized and service-oriented approach to address their legal needs.