Alameda Commercial Real Estate Lawyers

Alameda Commercial Real Estate Lawyers, CA

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Commercial Real Estate Law in California

In Alameda, California, "commercial real estate" is any form of land or building which is utilized for a business, as opposed to residential, purpose.

The laws regulating real estate in Alameda, California apply differently when dealing with commercial, as opposed to residential, real estate.

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

For instance, residential real estate is controlled 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 usually 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 Alameda, California

Financing: Most small business owners in Alameda, California 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.

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 substantial 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: Buyers of commercial real estate are expected to be diligent, and a court will not reward a lack of diligence. Consequently, if the buyer fails to conduct a thorough inspection of the property before buying it, and thereby fails to discover defects which such an inspection could have easily revealed, he will not be able to sue the seller over these defects later on.

Encumbrances: Undisclosed encumbrances are defects of another sort: defects of title. An encumbrance is any interest that a third party has in the Alameda, California commercial real estate. These typically 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 necessary to know about them before buying.

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Can a Alameda, California Attorney Help?

These issues are sometimes complicated, and almost always very important. Therefore, it's imperative to seek the assistance of a Alameda, California real estate attorney if you have any dealings in this area.

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Life in Alameda

Alameda, California is a city in Alameda County. Its population is currently about 80,000 people. It is located in the Eastern portion of the San Francisco Bay Area.

Alameda, California is located on two islands: Alameda Island and Bay Farm Island, in the San Francisco bay. Alameda, California is popular with wind surfers, thanks to its proximity to the San Francisco Bay, and the presence of a fairly large public beach in town, which, besides being a good site for wind surfing, provides beautiful views of the San Francisco skyline and the Bay Bridge.

Until 1997, Naval Air Station Alameda was one of the driving forces in the local economy. But it was closed in 1997, during a wave of military cutbacks and base closures that occurred at the end of the Cold War. Nowadays, Alameda, California is a major regional center for wine and spirit production. The alcohol industry is heavily regulated, so these wineries and distilleries hire a large number of Alameda, California attorneys.

If you need to find a lawyer in Alameda, California, you're in luck. There are many well-qualified and experienced attorneys in Alameda, California, who can help you with just about any legal issue you're likely to face.

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