El Cajon Commercial Real Estate Lawyers
Commercial Real Estate Law in California
In El Cajon, 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 El Cajon, California apply differently when dealing with commercial, as opposed to residential, real estate.
Buyers and renters of residential property enjoy some pretty substantial 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 El Cajon, California
Financing: Many businesses in El Cajon, California can't save up enough money to pay the full asking price of a decent-sized piece of real estate up front. Nonetheless, it's sometimes necessary for businesses to acquire real estate. To solve this problem, most rely on a mortgage. A mortgage is a common type of loan, taken out to purchase real estate. The lending institution lends the full purchase price to the borrower, who then purchases the property. The property, in turn, becomes collateral for the loan, which must be paid back over a period of years, with interest.
Concealment of Defects: if the seller or lessor of commercial real estate actively conceals a material defect in the real estate, they can be responsible to the buyer or renter for any damages caused by this concealment.
Duty to Inspect: Lest you believe that the duty to disclose defects relieves any duty of diligence on the part of the buyer, the law will not reward such lapses with a major cause of action. Buyers have a duty to conduct a reasonable inspection of the property before they buy it, typicallyy with a licensed building inspector. If the buyer fails to do this, they won't be able to recover any damages for defects which they could have discovered through a reasonable inspection.
Encumbrances: An encumbrance is any interest held in a piece of property by a party other than the seller and the buyer. These property interests might make it very challenging for the buyer to use the land as they intended when they bought it. A typical type of encumbrance in El Cajon, California is the easement. An easement is some right that a third party has in a piece of property. For example, suppose that, many years ago, a neighbor adjacent to the land you want to buy, paid a previous owner for the right to cross his land to reach a public road. Unless the agreement states otherwise, this right will usually apply to subsequent owners, and has to be honored. Therefore, it might interfere with the intended use of the new owner.
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These issues can be very complicated, and most people consider such financially-weighty decisions to be very important. If you are one of those people, it's a smart move to contact a El Cajon, California real estate attorney if you are facing any of the issues discussed above.
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Life in El CajonEl Cajon, California is a city in San Diego County. It has a population of just under 100,000 people.
El Cajon, California was formed from a land grant from the Mexican government in 1845, and was officially incorporated as a city in 1912.
El Cajon is located inland from San Diego, and as a result, its climate has more variation than San Diego from one extreme to another, but compared to most other places, its climate can be considered quite mild. Summers in El Cajon, California are quite warm, though it rarely gets extremely hot.
Like most places in California, El Cajon sports a large amount of ethnic and religious diversity. El Cajon, California is also home to a burgeoning art and culture district, including art galleries, and a strong commitment to public art.
If you are facing a legal issue in El Cajon, California, chances are good that there is a lawyer nearby who is capable of handling your problem, whatever it might be. El Cajon, California lawyers are always ready to meet the legal needs of their community. If you have any legal trouble whatsoever, no case is too big or too small for an El Cajon attorney.