Tamarac Commercial Real Estate Lawyers

Find the right Commercial Real Estate attorney in Tamarac, FL

Commercial Real Estate Law in Florida

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

Commercial real estate in Tamarac, Florida is handled by laws which differ significantly from state and local laws that apply to residential real estate.

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

For instance, residential real estate is covered 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 generally 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 Tamarac, Florida

Financing: Many businesses in Tamarac, Florida can't save up enough money to pay the full asking price of a decent-sized piece of real estate up front. Nonetheless, it's sometimes necessary for businesses to acquire real estate. To solve this issue, most rely on a mortgage. A mortgage is a typical type of loan, taken out to purchase real estate. The lending institution lends the full purchase price to the borrower, who then purchases the property. The property, in turn, becomes collateral for the loan, which must be paid back over a period of years, with interest.

Concealment of Defects: if the seller or lessor of commercial real estate actively conceals a material defect in the real estate, they can be liable to the buyer or renter for any damages caused by this concealment.

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, usuallyy 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: 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 difficult for the buyer to use the land as they intended when they bought it. A common type of encumbrance in Tamarac, Florida 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 Tamarac, Florida Attorney Help?

Because of the complexity and importance of many of the issues regarding commercial real estate, it is almost always crucial to consult with a Tamarac, Florida attorney before buying or selling commercial real estate.

Talk to a Real Estate Law Attorney now!

Life in Tamarac

Tamarac is a small city in Florida with approximately 61,000 people. It is surrounded by Miami, Fort Lauderdale and Pompano Beach.

Some popular spots in Tamarac include Pinellas Park and Commercial Boulevard. Tamarac is known for its community unity and residential neighborhoods.

Most residents commute to neighboring areas for work. Tamarac is also home to some small law offices, where attorneys focus on providing excellent, affordable legal services.

Overall, Tamarac is not one of the cities in Florida that is visited by most tourists. Nor is it one of those cities that is filled with beach bodies and beauty. However, the city has an unified spirit, which it takes much pride in!

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