Commercial Real Estate Law in Texas

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

The laws covering commercial real estate in Copperas Cove, Texas are quite different from those applying to residential real estate.

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

For instance, residential real estate is governed 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 typically 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 Copperas Cove, Texas

Financing: The majority of small business owners in Copperas Cove, Texas 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: 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 common, 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: Encumbrances are defects of a different type: rather than physical defects, they are defects of title. In Copperas Cove, Texas, an encumbrance is an interest in a piece of real estate held by a third party, such as covenants or easements. An easement is a right held by someone to use the property of someone else for a particular purpose. For example, a person might have an easement on the land of another person, allowing them to cross the land to access a public road.

Can a Copperas Cove, Texas Attorney Help?

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