Some of the Most Frequent Legal Issues in Commercial Real Estate
There are a number of Florida laws that regulate commercial real estate, and these laws cover areas such as leasing, purchasing and selling, zoning and land use, disclosure, insurance, and contracts.
In this article, we will discuss a few of the most common issues that arise in commercial real estate. If you are involved in any type of legal situation you should contact an experienced Fort Lauderdale commercial real estate attorney for specific guidance on your situation.
Zoning and land use
Nearly every commercial property is affected by land use and zoning regulations. The local governments of Florida have specific districts or zones that are reserved for industrial, commercial and residential properties. If the proposed use of a commercial property does not adhere to the local zoning laws, it can result in a number of legal problems.
The owner may be able to apply for a zoning variance with the assistance of a commercial real estate lawyer. However, it is preferable to meet with an attorney long before signing any lease or purchasing a property to ensure that it has the appropriate zoning for its intended use.
Disclosure of material defects
Under Florida law, the seller has virtually no obligation to disclose a commercial property’s material defects to the buyer. Although this does not give sellers free reign to actively conceal defects, it does result in the buyer being forced to abide by a policy of caveat emptor in most situations.
Commercial real estate buyers should do everything possible to catch any potential defects or problems with the property, including hiring a certified inspector for a thorough inspection. A commercial real estate lawyer in Fort Lauderdale may also be able to include terms in the purchase agreement that give the buyer some recourse if major defects are found after the sale.
Commercial lease negotiations are complex since there are several areas that must be outlined including the structure of the lease, its duration, repair and maintenance responsibilities, rent and rent increases, subleases and assignments, tenant improvements and many others.
These are only a few of the most frequent legal issues that arise in commercial real estate. It is always advisable to consult with an experienced Fort Lauderdale commercial real estate attorney if you are involved in any type of legal situation, negotiation or dispute.
If you have any questions on commercial real estate law, call Mark Schecter at Schecter Law today at (954)-779-7009.