Los Angeles Commercial Real Estate Lawyers

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Commercial Real Estate Law in California

In Los Angeles, California, "commercial real estate" is any form of land or building which is utilized for a business, as opposed to residential, purpose.

The laws governing commercial real estate in Los Angeles, California are quite different from those applying to residential real estate.

Buyers and renters of residential property enjoy a massive number of legal protections. Many of these protections don't apply to buyers or renters of commercial property.

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 Los Angeles, California

Financing: Most small business owners in Los Angeles, California don't have the money to buy real estate with the cash on hand. Nonetheless, there is a solution to this problem, permitting people without massive sums of money (but with a steady income) to buy real estate: the mortgage. A mortgage is a loan used to buy real estate, and the real estate being bought is used as collateral for 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 outcomes. 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.

Buyer's Duty to Inspect: typically, 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 hurt by physical defects that an inspection would have revealed, and that the seller didn't know about.

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 hard for the buyer to use the land as they intended when they bought it. A frequent type of encumbrance in Los Angeles, 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.

Can a Los Angeles, California Attorney Help?

These issues are sometimes intricate, and almost always very important. Therefore, it's necessary to seek the assistance of a Los Angeles, California real estate attorney if you have any dealings in this area.

Talk to a Real Estate Law Attorney now!

Life in Los Angeles

Most people think of Hollywood when they think of Los Angeles, California. Los Angeles is home to many celebrities, movie studios such as Paramount Pictures Home Entertainment Studios, and the Walk of Fame. Los Angeles residents and visitors can often sight celebrities shopping on Rodeo Drive, in Malibu, Beverly Hills, or in various night clubs.

Besides celebrities, Los Angeles is near the happiest on Earth-Disneyland! Kicking back and enjoying rides, great shows and parades, and hanging out with your favorite Disney characters is not the only thing Disneyland is about. Rather, Disneyland is a place where families come together, have fun, and both children and adults feel like a kid again. This unique attraction is one of the reasons Los Angeles is so visited by people all over the world.Other attractions in Los Angeles include the J. Paul Getty Museum, Universal Studios Hollywood, Hollywood Museum, Griffith Park, Venice Beach, and the Hollywood Bowl Museum.

Los Angeles being such a large city with a population of 9,862,049 is home to many intelligent, ivy-league-educated, and promising lawyers. Therefore, many large, multinational as well as mid-sized and small firms are present in Los Angeles. No legal need is left unattended in Los Angeles, California.

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