Baldwin Park Commercial Real Estate Lawyers
Commercial Real Estate Law in California
In Baldwin Park, 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 Baldwin Park, California apply differently when dealing with commercial, as opposed 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 include implied warranties of habitability, rent control, and covenants of use and quiet enjoyment, among various others. Of course, the most general protections, such as prohibiting the seller from actively concealing defects, apply to both.
Common Commercial Real Estate Law Issues in Baldwin Park, California
Financing: The majority of small businesses in Baldwin Park, California 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.
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 consequences. 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 significant 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 usually won't be able to successfully sue, if defects are discovered after the purchase.
Encumbrances: These are defects to title, rather than physical defects. They are legal issues which might make it challenging or impossible for a landowner to make full use of their land. In Baldwin Park, California, these might include easements. An easement is a right to use property held by a party other than the owner. This use is often very specific in scope, such as allowing the holder of the easement to cross the property to access a public road, or something similar. Such rights usually have to be recognized and honored by new owners, so if they buy property not knowing about them, they might be seriously inconvenienced.
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Can a Baldwin Park, California Attorney Help?
Because of the complexity and importance of many of the issues regarding commercial real estate, it is almost always imperative to consult with a Baldwin Park, California attorney before buying or selling commercial real estate.
Commercial Real Estate Attorneys in the Largest CA Cities
Life in Baldwin ParkBaldwin Park is a city located in Los Angeles County. It has a population of about 75,000 people and is a very family-oriented community. Nestled in the quaint San Gabriel Valley of California, Baldwin Park was founded as early as 1860. Its early economy revolved around trade and enterprises along the San Gabriel River. Top employers currently include Kaiser Permanente and the Home Depot. Baldwin Park, California was home to the first In-N-Out Burger stand.
Today, Baldwin Park California is known for being a hub of arts and culture development. The Arts and Recreation Center (ARC) in Baldwin Park is a unique facility offering a variety of specialty classes for families, adults, and children. The ARC has a multi-purpose room, a dance and artist studio, and a banquet hall. Barnes Park Family Recreation Center is a similar facility in Baldwin Park and has received an Award of Excellence.
Many visitors and tourists to California enjoy events at Baldwin Park. A few examples of city events include a New Year's Day Celebration, the Veteran's Day Ceremony, and "Concert in the Park" series lasting several weeks in the summer. The Baldwin Historical Museum is another favorite destination.
Attorneys in Baldwin Park, California often assist clients by offering legal advice and providing representation in court. They have experience in interpreting the unique laws and codes of the city. Baldwin Park lawyers are available to assist the community in a wide range of legal fields and topics.