Orange Commercial Real Estate Lawyers
Commercial Real Estate Law in California
In Orange, California, "commercial real estate" is any type of land or building which is used for a business, as opposed to residential, purpose.
The laws covering commercial real estate in Orange, California are quite different from those applying to residential real estate.
Buyers and renters of residential property enjoy a considerable number of legal protections. Many of these protections don't apply to buyers or renters of commercial property.
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 Orange, California
Financing: The majority of small business owners in Orange, California probably can't afford to buy much real estate outright, with cash paid up front, so most small business purchase 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 common, 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. Consequently, 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 Orange, 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 Orange, California Attorney Help?
Because of the importance and potential complexity of the issues surrounding commercial real estate, it's almost always advisable that, before engaging in any real estate deal, you pursue the counsel of a good Orange, California real estate attorney.
170 Real Estate, Housing & Property Law cases posted to LegalMatch lawyers in Orange
Commercial Real Estate Attorneys in the Largest CA Cities
Life in OrangeThe city of Orange, California has a population of about 137,000 and is located about 3 miles from Santa Ana, the seat of Orange County. It has recently become a popular choice of residence for commuters who are employed in Los Angeles. Orange, California is well-known for its cozy, "old-town" feel that it maintains.
Part of Orange's charm is due to the large number of old and historic homes that have been preserved by the city. Many homes in Orange's "Old Town District" were built before 1920. Orange Historic District also contains original structures built around the time of the city's incorporation in the late 1800's. Orange, California has the second largest concentration of historic buildings in the nation.
In addition to its old-town feel, Orange has welcomed a number of modern institutions and retail centers. Of notable interest is "The Block at Orange", which is an outdoor entertainment and shopping locale. It features several upscale restaurants and is a popular shopping destination.
Lawyers in Orange, California provide assistance in a wide range of general legal fields. Many Orange, California lawyers have unique skills in specialized areas of law. Most attorneys in Orange file their claims at the Superior Court of California, County of Orange.