Inglewood Commercial Real Estate Lawyers

Inglewood Commercial Real Estate Lawyers, CA

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Commercial Real Estate Law in California

In Inglewood, 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 Inglewood, 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.

For example, commercial real estate typically isn't covered by rent control laws, nor does it carry with it an implied warranty of habitability (because people usually 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 Inglewood, California

Financing: The majority of small businesses in Inglewood, California can't afford to make large real estate purchases with the money they have in the bank. Still, buying real estate is sometimes imperative 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 serious 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 serious results. 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: 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: Encumbrances are defects of a different type: rather than physical defects, they are defects of title. In Inglewood, 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 specific purpose. For example, 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 Inglewood, 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 Inglewood, California real estate attorney if you are facing any of the issues discussed above.

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Life in Inglewood

Inglewood, California is a city in Los Angeles County. It currently has a population of around 110,000 residents. It is located in the South Bay area of the Greater Los Angeles region.

Inglewood, California is a vibrant, diverse community. It is extremely ethnically diverse, as well as economically. Its relatively affordable housing makes it attractive to working class individuals, and its proximity to the Los Angeles area makes it attractive to middle-class professionals, such as lawyers.

Inglewood, California is noted for being the headquarters of the D.A.R.E. organization, which seeks to educate schoolchildren and young adults about the dangers of getting involved in violence and illegal drugs. D.A.R.E. employs hundreds of people at its headquarters, including several Inglewood, California attorneys.

If you live in Inglewood, California and are need of legal advice or legal services, you should not hesitate to call an Inglewood, California attorney as soon as possible.

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