Wellington Commercial Real Estate Lawyers

Find the right Commercial Real Estate attorney in Wellington, FL

Commercial Real Estate Law in Florida

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

People who buy and rent residential unites have a larger deal of legal protections not available to buyers of commercial property.

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 Wellington, Florida

Financing: The majority of small businesses in Wellington, Florida can't afford to make large real estate purchases with the money they have in the bank. Nonetheless, buying real estate is sometimes necessary 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: While buyers of real estate have some considerable protections with respect to defects, they also have some obligations. Before finalizing a purchase, buyers are expected to undertake a reasonable inspection of the property, usually by using a licensed building inspector. If the buyer fails to conduct an inspection, they normally won't be able to successfully sue, if defects are discovered after the purchase.

Encumbrances: Undisclosed encumbrances are defects of another sort: defects of title. An encumbrance is any interest that a third party has in the Wellington, Florida commercial real estate. These normally take the form of easements, which are rights held by third parties to use the land for a specific purpose. Easements can have profound effects on how a new owner can use the land, so it is important to know about them before buying.

Can a Wellington, Florida 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 Wellington, Florida real estate attorney if you are facing any of the issues discussed above.

Talk to a Real Estate Law Attorney now!

Life in Wellington

Wellington is a part of the South Florida community. Specifically, it is located in Palm Beach County, Florida.

One of the largest corporations in Wellington is BE Aerospace. BE employs many Wellington residents. BE apparently pays well because the median income for a Wellington household is approximately ,000. Along with BE, Wellington is home to many law firms. These firms train excellent attorneys capable of handling any and every legal need.

Some popular attractions in Wellington include the Village of Wellington, Kravis Center for Performing Arts, the Norton Museum of Art, nearby West Palm Beach, and the Mall at Wellington Green.

Some famous Wellington residents include Vanilla Ice, Tommy Lee Jones, Madonna, David O'brien, Bruce Springsteen, Curtis Pride, Glenn Close, and Michael Bloomberg.

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