At some point in your business, you are going to rent or own property. Real estate law varies a great deal between states, and proper documentation of all matters is critical to protecting your rights. As a landlord or a tenant, you may face landlord-tenant disputes, and a real estate attorney can help you handle these aspects of landlord-tenant law. In addition, a real estate attorney can help you manage the financial and legal aspects of any real estate transaction.
As either a tenant or a landlord, a clear and strong lease will help you understand your obligations and protect your rights. These agreements typically establish the duration of a lease, as well as the amount and payment schedule of rent. Some of the additional provisions may include policies regarding the security deposit, conditions for early termination, acceptable use of the space, responsibility for additional costs, liability and whether subletting is permitted.
A commercial or industrial lease can be a major obligation for a business owner, and an attorney can assist you in making sure that the rights and uses permitted in the lease are a good fit for your business’s immediate needs and future growth.
In some cases, a license may be more appropriate than a lease. While a lease conveys an exclusive leasehold possession of a property, another type of agreement, a license, is only a privilege to act on a property but does not provide the same possessory interest. A lawyer can advise you on what makes the most sense in your situation.
An attorney can assist you with the negotiation and closing of all real estate transactions from start to finish. Careful completion of official records in real estate are critical in establishing the ownership of property and notices of transfer. An attorney can assist you in making sure all of the necessary paperwork is in order to prevent surprises in your investment down the road. Your attorney may help prepare a purchase agreement, review financing documents, develop escrow instructions or draft conveyancing documents.
Real estate transactions and contracts furthermore have the unique requirement that property be “marketable,” which means the title of a property can be readily sold. This calls for investigation by an attorney or title insurance company, as well as the execution of a deed with a proper description of the property.
Disputes may arise between landlords and tenants over various issues including property repairs, rent payments or tenant rights. The best way to avoid such a dispute is to carefully review a lease before engaging with a landlord to understand your legal rights and responsibilities. Each state has different landlord and tenant laws that will establish rights, responsibilities and proper documentation procedures should a dispute arise. An attorney can help you review a lease before you encounter a problem as well as help you move forward if litigation becomes necessary.
A real estate attorney can help you navigate complicated agreements before you run into problems, and make sure you understand all of the terms of any transaction involving your property. If you or your business is facing a real estate dispute, an attorney can assist you every step of the way through the litigation process.
You can review a sample commercial lease, property management agreement and triple net lease, drafted and annotated by Priori lawyers, in our Document & Form Learning Center.
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