Bristol Commercial Real Estate Lawyers

Find the right Commercial Real Estate attorney in Bristol, RI

Commercial Real Estate Law in Rhode Island

Commercial real estate is any type of land or structure in Bristol, Rhode Island which is used for business purposes, primarily the sale of goods and/or services to the public.

The laws governing real estate in Bristol, Rhode Island apply differently when dealing with commercial, as opposed to residential, real estate.

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

For instance, residential real estate is controlled 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 usually 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 Bristol, Rhode Island

Financing: The majority of small business owners in Bristol, Rhode Island probably can't afford to buy much real estate outright, with cash paid up front, so most small business purchase commercial real estate with a mortgage. A mortgage is a loan taken out for the purpose of buying real estate, using that real estate as collateral for the loan.

Concealment of Defects: if the seller of commercial property acts to conceal a significant defect in the property, and then sells the property, he will be responsible for any harm this defect cause, as well as the reduced value of the property, or the cost of repair.

Duty to Inspect: Buyers of commercial real estate are expected to be diligent, and a court will not reward a lack of diligence. Consequently, 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: Undisclosed encumbrances are defects of another sort: defects of title. An encumbrance is any interest that a third party has in the Bristol, Rhode Island commercial real estate. These typically 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 essential to know about them before buying.

Can a Bristol, Rhode Island Attorney Help?

The issues surrounding commercial real estate in Bristol, Rhode Island can get fairly complex. Therefore, it's never a bad idea to have the assistance of an efficient commercial real estate attorney.

Talk to a Real Estate Law Attorney now!

Life in Bristol

Bristol is located in Bristol County, Rhode Island. It is a small city with a population of around 23,000 people. It is a seaport that is named after Bristol, England. In fact, the atmosphere at Bristol Harbor is very serene and peaceful. It is one of Bristol's most beautiful spots!

Major industries that drive Bristol's economy include boat building, manufacturing and tourism. Some great attractions include America's Cup Hall of Fame, Blithewold Mansion, Gardens and Arboretum, Bristol County Jail, Bristol County Courthouse, Bristol Ferry Lighthouse, Colt State Park, Gillary's Tavern, Herreshoff Marine Museum, Linden Place, Mount Hope Bridge, Poppasquash Farms Historic District, Joseph Reynolds House, and Coggeshall Farm Museum. As evident, Bristol is a history-lover's delight!

Bristol is also home to many law offices established by competent attorneys. These attorneys are well-experienced in many areas of law, making them easily able to handle the legal needs of residents and local businesses.

All in all, Bristol has it all--beauty, history, charm, and serenity!

Clients Rate LegalMatch Attorneys
(click to read reviews)

Nicholas M.
Nicholas M.

Real Estate, Housing & Property Law

Golden, CO

Carl M.
Carl M.

Real Estate, Housing & Property Law

Seattle, WA

David A.
David A.

Real Estate, Housing & Property Law

Walnut Creek, CA