Simi Valley Commercial Real Estate Lawyers

Find the right Commercial Real Estate attorney in Simi Valley, CA

Commercial Real Estate Law in California

In Simi 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 governing commercial real estate in Simi Valley, 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 instance, residential real estate is controlled by laws concerning rent control, living conditions, and other things relevant to buildings where people will be living. Most of these protections don't apply to commercial real estate, because the law assumes that the average business person is a bit more sophisticated in such dealings than the general population, and because a place to do business is usually less important than a place to live. However, the most basic protections, such as protection from fraud and deliberate concealment of defects, still apply.

Common Commercial Real Estate Law Issues in Simi Valley, California

Financing: Most small business owners in Simi Valley, 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.

Concealment of Defects: if the seller of commercial property acts to conceal a significant defect in the property, and then sells the property, he will be responsible for any harm this defect cause, as well as the reduced value of the property, or the cost of repair.

Buyer's Duty to Inspect: usually, 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 injured 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 challenging for the buyer to use the land as they intended when they bought it. A typical type of encumbrance in Simi Valley, 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 Simi Valley, California Attorney Help?

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 Simi Valley, California real estate attorney if you are facing any of the issues discussed above.

Talk to a Real Estate Law Attorney now!

Life in Simi Valley

Simi Valley is a suburb located in beautiful Southern California, bordering San Fernando Valley and the greater Los Angeles area. Simi Valley is surrounded by the Santa Susana Mountain range and the Simi Hills; therefore is known for gorgeous sites that emphasize Mother Nature's beauty. With such an appeal also labels the area as a high-risk location for wildfires.

Simi Valley has been pictured in many popular Hollywood movies including Poltergeist, Little House on the Prairie, The Thorn Birds, Bachelor Party, and The Doberman Gang.

Top employers in the area include the school districts and hospitals, as well as Farmers Insurance Group, AeroVironment, Vons, Meggitt Safety Systems, Wal-Mart, Milgard Manufacturing, and Rancho Simi Parks Recreation District.

Southern California is home to many law school and firms of all sizes. Moreover, many ivy-league educated attorneys make Southern California their home after graduation. Thus, the legal force in and near Simi Valley is served by brilliant attorneys who are trained by some of the largest firms. Also, the vast number of firms bring about fierce competition and competitive pricing for Simi Valley residents. All in all, Simi Valley residents can rest assured that any legal inquiry of theirs can be handled by the legal industry in and around Simi Valley.

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