Grass Valley Commercial Real Estate Lawyers

Grass Valley Commercial Real Estate Lawyers, CA

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Commercial Real Estate Law in California

In Grass Valley, 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 Grass Valley, California apply differently when dealing with commercial, as opposed to residential, real estate.

Buyers and renters of residential property enjoy some pretty considerable 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.

For instance, commercial real estate normally isn't covered by rent control laws, nor does it carry with it an implied warranty of habitability (because people typically won't be living in it). Furthermore, it also doesn't come with a covenant of quiet enjoyment. However, some of the most basic legal protections (such as laws against fraud, and concealment of defects) apply in both the commercial and residential context.

Common Commercial Real Estate Law Issues in Grass Valley, California

Financing: The majority of small business owners in Grass Valley, California probably can't afford to buy much real estate outright, with cash paid up front, so most small business buy commercial real estate with a mortgage. A mortgage is a loan taken out for the purpose of buying real estate, using that real estate as collateral for the loan.

Concealment of Defects: Sellers and lessors of commercial real estate are under a duty to disclose any defects in the property which might impact the buyer's decision to purchase it, such as water damage, mold, or other structural problems. These defects are quite typical, and the buyer has a right to know about them. If the seller doesn't disclose these defects, where they exist, the buyer can sue for any harm this causes.

Duty to Inspect: Buyers of commercial real estate are expected to be diligent, and a court will not reward a lack of diligence. Thus, 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: Encumbrances are defects of a different type: rather than physical defects, they are defects of title. In Grass Valley, California, an encumbrance is an interest in a piece of real estate held by a third party, such as covenants or easements. An easement is a right held by someone to use the property of someone else for a particular purpose. For instance, a person might have an easement on the land of another person, allowing them to cross the land to access a public road.

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Can a Grass Valley, California Attorney Help?

Because of the importance and potential complexity of the issues surrounding commercial real estate, it's almost always recommended that, before engaging in any real estate deal, you obtain the counsel of a good Grass Valley, California real estate attorney.

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