Dana Point Commercial Real Estate Lawyers
Commercial Real Estate Law in California
In Dana Point, California, "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 Dana Point, 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.
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 Dana Point, California
Financing: The majority of small businesses in Dana Point, 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.
Disclosure of Defects: Sellers of real estate have an obligation to inform prospective buyers of any defects present in the property, such as water damage and other structural problems. Basically, 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 significant 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.
Buyer's Duty to Inspect: generally, 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 harmed by physical defects that an inspection would have revealed, and that the seller didn't know about.
Encumbrances: These are defects to title, rather than physical defects. They are legal issues which might make it difficult or impossible for a landowner to make full use of their land. In Dana Point, 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 particular 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 Dana Point, California Attorney Help?
These issues can be very complicated, and most people consider such financially-weighty decisions to be very necessary. If you are one of those people, it's a smart move to contact a Dana Point, California real estate attorney if you are facing any of the issues discussed above.
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Life in Dana PointDana Point, California is situated in the southern area of Orange County, near the western coast. It is known for its mild climate and warm temperatures, typical of a California coastal city. Dana Point has a population of over 33,000 and is a favored location for surfing. It was named after the Dana Point headlands.
Dana Point's city motto is, "Harboring the Good Life", which speaks of both its harbor culture and its laid-back atmosphere. Popular places to visit include Dana Point Harbor, Salt Creek Beach Park, and Doheny State Beach Park. These locations provide excellent locations for outdoor activities such as surfing, picnics, and beach sports. In its early history, Dana Point, California has been described as "the only romantic spot on the coast".
It goes without saying that many of the events and attractions in Dana Point, California revolve around its beautiful beaches. These include the "Festival of Whales" and the "Tall Ships Festival". The annual Dana Point Grand Prix is a bike race winding through downtown and continuing on to some spectacular, breathtaking views. Many of the beach areas also feature local shopping, fine seafood dining, and boutique shops.
Lawyers in Dana Point, California assist the community in a broad range of legal topics. Some of the legal issues and laws in Dana Point may be specific to the area. Experienced Dana Point lawyers can provide legal services that are tailored to meet the needs of city residents.