Union Commercial Real Estate Lawyers

Find the right Commercial Real Estate attorney in Union, NJ

Commercial Real Estate Law in New Jersey

Commercial Real Estate Law in Union, New Jersey is any form of land or permanent structure which isn't utilized for residential or industrial purposes, and is instead used for a business involving the buying and selling of goods or services.

The laws regulating real estate in Union, New Jersey apply differently when dealing with commercial, as opposed to residential, real estate.

Buyers and renters of residential property enjoy some pretty considerable legal protections, because the law of most states presumes that shelter (being necessary to survive, for the most part) is more important than business. Therefore, many of these consumer protections don't apply to commercial real estate.

For instance, commercial real estate normally isn't covered by rent control laws, nor does it carry with it an implied warranty of habitability (because people typically won't be living in it). Furthermore, it also doesn't come with a covenant of quiet enjoyment. However, some of the most basic legal protections (such as laws against fraud, and concealment of defects) apply in both the commercial and residential context.

Common Commercial Real Estate Law Issues in Union, New Jersey

Financing: Most small business owners in Union, New Jersey 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 or lessor of commercial real estate actively conceals a material defect in the real estate, they can be accountable to the buyer or renter for any damages caused by this concealment.

Duty to Inspect: Buyers of commercial real estate are expected to be diligent, and a court will not reward a lack of diligence. Thus, 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: These are defects to title, rather than physical defects. They are legal issues which might make it challenging or impossible for a landowner to make full use of their land. In Union, New Jersey, these might include easements. An easement is a right to use property held by a party other than the owner. This use is often very specific in scope, such as allowing the holder of the easement to cross the property to access a public road, or something similar. Such rights usually have to be recognized and honored by new owners, so if they buy property not knowing about them, they might be seriously inconvenienced.

Can a Union, New Jersey Attorney Help?

The issues surrounding commercial real estate in Union, New Jersey can get fairly complex. Therefore, it's never a bad idea to have the assistance of an accomplished commercial real estate attorney.

Talk to a Real Estate Law Attorney now!

Life in Union

Union, New Jersey is a township located in North-Central Union County, New Jersey. With a population of just under 55,000 residents, this lovely township comprises 9.1. square miles. Union is also home to the worlds tallest watersphere, standing 212 feet tall and the water towerhas become a local point of interest, with it's own fan website. As a township, Union is governed by a five member Township committee. In 2008, Union was ranked the 75th best place to live in America by Money Magazine. Not surprisingly, the Union Public School District has a lot to do with the ranking and Union is home to some of the top schools in the state of New Jersey. There is also a fabulous community of professionals in Union, many of which grew up in the township and decided to stay and practice. Union, New Jersey is home to some great lawyers. There is a thriving legal community in Union and the local lawyers are trained in a range of specialties and able to help their clients with any legal issue he or she many be facing. Whatever the problem is, an Unionlawyer can certainly solve it!

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