Commercial Real Estate Law in California

In Ventura, 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 Ventura, California are quite different from those applying to residential real estate.

When renting or buying residential real estate, renters and buyers have significant legal protections which often don't apply to commercial real estate.

These include implied warranties of habitability, rent control, and covenants of use and quiet enjoyment, among numerous 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 Ventura, California

Financing: The majority of small businesses in Ventura, California can't afford to make large real estate purchases with the money they have in the bank. Nevertheless, buying real estate is sometimes essential 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.

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. Therefore, 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 Ventura, 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 certain 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.

Can a Ventura, California Attorney Help?

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