Worcester Commercial Real Estate Lawyers

Find the right Commercial Real Estate attorney in Worcester, MA

Commercial Real Estate Law in Massachusetts

In Worcester, Massachusetts, commercial real estate is any type of real property (land or permanent structures) being used for business purposes.

Commercial real estate in Worcester, Massachusetts is managed by laws which differ significantly from state and local laws that apply to residential real estate.

Many of the protections that buyers and renters of residential real estate enjoy rarely apply to renters of commercial real estate.

These absent protections include rent control, and warranties of habitability, among others. The most basic protections, such as prohibiting sellers of real estate from lying about the property to the buyer, apply in any context, however.

Common Commercial Real Estate Law Issues in Worcester, Massachusetts

Financing: Most small business owners in Worcester, Massachusetts don't have the money to buy real estate with the cash on hand. However, there is a solution to this problem, allowing 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 purchased is used as collateral for the loan.

Disclosure of Defects: Sellers of real estate have an obligation to inform prospective buyers of any defects present in the property, such as water damage and other structural problems. Basically, if the defect is significant enough that it might affect a reasonable buyer's decision on whether or not to purchase the property, and the seller knows about it, it must be disclosed. Failure to disclose such defects would give a buyer the right to sue the seller, and recover significant damages, including the cost of repairing the defect, compensation for any injuries or illness caused by it, and the reduction in the property's value caused by the defect.

Duty to Inspect: This is a companion to the duty to disclose defects. Generally, buyers of real estate are expected to inspect the property. If they fail to conduct a good inspection, they might not be able to recover damages if they are harmed by any defects which an inspection would have revealed.

Encumbrances: Undisclosed encumbrances are defects of another sort: defects of title. An encumbrance is any interest that a third party has in the Worcester, Massachusetts commercial real estate. These usually 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 critical to know about them before buying.

Can a Worcester, Massachusetts Attorney Help?

These issues can be very complicated, and most people consider such financially-weighty decisions to be very critical. If you are one of those people, it's a smart move to contact a Worcester, Massachusetts real estate attorney if you are facing any of the issues discussed above.

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Life in Worcester

The City of Worchester is the seat of Worchester County, Massachusetts and home to 190,000 residents. As the 2nd largest city in New England after Boston, Worchester is known as the "Heart of the Commonwealth." Consequently, the Worcester City Seal is emblazoned with a heart.

The Worchester City Seal is also appropriate because there are a wide range of health-related businesses and schools in town. UMass Memorial Health Care, University of Massachusetts Medical School, Saint Vincent Hospital, Hanover Insurance, and the Fallon Clinic round out 5 of the top 8 employers in Worchester.

Other businesses, like Polar Beverages who operates two bottling facilities in Worcester, make use of the local staff of lawyers. Worcester lawyers consult clients on a wide range of cases.

Worcester has an abundance of Victorian era mill architecture like at the Jesuit College of the Holy Cross. The college was founded in 1843 and is one of the oldest Roman Catholic colleges in the United States and the oldest in all of New England. Worcester has a number of other universities including Clark University, Worcester Polytechnic Institute, Becker College, Assumption College, and the Massachusetts College of Pharmacy and Heal Sciences that bring a lot of students and tourists to the town.

Additionally, the Worcester Art Museum has famous works by the likes of Rembrandt, Renoir, Gauguin, Kandinsky, and Jackson Pollock on display. The Higgins Armory Museum is an excellent example of Art Deco steel buildings and is the only museum in the Northern Hemisphere dedicated to arms and armor.

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