Vero Beach Real Estate Attorney
Real estate legal issues and transactions cover a wide variety of situations and relationships. While real estate matters are commonly associated with buying or selling property and landlord-tenant disputes, there are many that occur within and outside these areas that necessitate seeking legal advice to protect financial interests and property rights. From mortgages, commercial leases, and landlord-tenant issues, our Vero Beach real estate attorneys can address all your commercial and residential real estate needs. Real estate is often among some of the most valuable assets a business or person owns, and substantial time and investment is frequently expended when seeking to enter into a real estate transaction. However, real estate deals can quickly become complicated due to unforeseen transactional complications and legal disputes that endanger finalizing the deal, or restrict property rights. Markarian & Hayes will use its decades of experience to protect your interests and structure a deal to maximize the benefits to the homeowner or the company.
Common Legal Issues in Commercial Real Estate Deals
Location is practically everything in many businesses, and any transaction related to leasing, buying, selling, or developing property should be reviewed by a real estate attorney to verify the deal is legally sound and financially advantageous. The negotiations of lease terms, analyzing any legal encumbrances on the property, and handling issues related to closing can all present unanticipated challenges that can lead to failed deals, or a company unintentionally conceding important rights. Some of the issues commonly encountered in commercial real estate matters include:
- Bankruptcy – Desirable commercial space is hard to find in many places, and a business selling due to bankruptcy may present another company an unforeseen, but attractive, option to acquire the property. While individuals and businesses can sell property during bankruptcy, all sales and transfers must be approved by the bankruptcy court.
- Refusal Rights – Right of first refusal with an option to purchase is a common term in commercial lease contracts. This provision guarantees the tenant will receive the opportunity to buy the space before the landlord sells it to a third party. However, if a landlord feels it can get substantially more from a third party, it may try to circumvent this term. In this situation, a tenant needs to explore all their legal remedies with a real estate attorney to enforce their rights under the lease and obtain restitution for violations of the agreement.
- Lease Terms – Terms that seem fair and reasonable at the outset of a deal may no longer work after the passage of time. While it is rarely advisable to directly breach the terms of a lease or other contract, our Vero Beach real estate attorneys can help you negotiate a solution that helps your business and avoids potential legal liability for a breach.
Common Residential Real Estate Issues
Florida law does not require an attorney to review residential real estate transactions, but leaving an attorney out of this pivotal exchange can lead to legal disputes and receiving less than you bargained for when you agreed to the deal. Some important issues to consider when considering whether or not to hire a real estate attorney include:
- Ensuring all necessary defect disclosures are made by the seller;
- Protecting the buyer from inaccurate or shoddy inspections that fail to identify important structural issues or code violations;
- The risks of buying a foreclosure;
- Understanding the impact of HOA restrictions and condominium rights and duties as a buyer;
- Potential boundary issues, such as easements, encroachment, pools, and fence lines; and
- The federal tax complications of purchasing property from a foreigner seller, a common issue in South Florida.
Contact Our Vero Beach Real Estate Attorneys
The financial livelihood of a business and the peace of mind for a homeowner are often tied to the real estate they own. Given the investment of time and money these decisions require, give yourself the best opportunity to receive expert legal advice on the structure, terms, and potential complications of your real estate matter. The Vero Beach real estate attorneys at Markarian & Hayes understand how important these issues are for you and your business, and will strive to achieve the optimal outcome. Contact us today for a free consultation.