Commercial Property Lawyer – Land Law - Corporate Business Law
Business property (buildings & land) transactions (purchase & sale) are dealt with by lawyers applying commercial property law which differs substantially from residential property law. A commercial property lawyer may also negotiate refinancing and new mortgage terms at the behest of a business client. A commercial property lawyer has expertise in acting on behalf of corporate bodies, limited companies, partnerships and sole proprietorships and their distinctive requirements pertaining to various subareas of commercial law. A commercial property lawyer may be retained to complete :-
- Purchase and sale of commercial properties.
- Draft leases for business and/or industrial properties.
Landlord & Tenant
Businesses are often landlords of commercial property or tenants within an industrial property. A commercial property lawyer has a thorough knowledge of both landlord and tenant law and is well-versed in drafting appropriate documentation.
Preparing documents and provision of legal advice relevant to development of land, property and housing projects are typical activities for a commercial property lawyer.
A commercial property lawyer is experienced in a wide variety of fundamental elements particular to commercial and industrial businesses and able to bring satisfactory conclusions to complicated and, often, time sensitive circumstances.
Property Conveyances and Leases
Purchase and sale of commercial property is complex and requires the knowledge of an experienced commercial property lawyer. There are many details that must be attended to in commercial property transactions that are non-existent in residential property purchases and sales. Therefore, it is imperative a commercial property lawyer be utilized for commercial property transactions.
The same holds true for commercial leases. Contingencies exist for commercial leases, due to the nature of the business leasing property, which are not applicable in residential lease situations. Commercial property leases may deal with, just to name a few activities, manufacturing, processing and handling dangerous goods, which renders the terms of a commercial lease quite unlike those of a residential lease.
A commercial property lawyer is the wisest choice for handling commercial and industrial conveyances and leases.
Commercial Property Rental
There is specific legislation that applies to commercial property rentals and leases. This legislation must be adhered to when negotiating, drafting and signing formal leases or rental agreements. Once again, rental of commercial property is significantly distinct from residential leases.
Commercial property lawyers who specialize in commercial property rental have specific knowledge and experience. Commercial leases often include stringent conditions and may be written with legal terms which are difficult to understand. A commercial property lawyer is familiar with such terms and can explain their meanings in plain language.
A commercial lease is typically expensive for the tenant. Prior to committing to a rental agreement or lease that may be unsuitable, it is advisable to request a commercial property lawyer to review the lease and, if necessary, negotiate revisions to the lease. Once the lease is signed, both parties are bound by the terms.
On the other side of the coin, commercial property lawyers use their understanding of commercial property law to ensure landlords and their property are protected to the fullest extent when leasing to businesses. Many businesses are involved in daily activities which have a certain element of risk attached. Commercial property lawyers ensure leases and rental agreements contain provisions that safeguard a landlord’s property and interests.
Provisions of Leases or Rental Agreements
There are particulars which must be included in commercial leases or rental agreements to shield both the landlord and lessee or renter. These include-:
- rental amount
- payment terms
- length of agreement
- renewal rights
- permissible activities
- restricted activities
A lease or rental agreement commonly includes provisions for resolution of conflicts between the landlord and lessee or tenant. These documents must be especially thorough and cover all exigencies.
Drafting and, if required, negotiating a commercial lease or rental agreement requires sophisticated comprehension of applicable legislation and mastery in composing documentation. Commercial leases and rental agreements are not within the realm of a residential lawyer. A commercial property lawyer is essential for protection of landlord and tenant rights.
Commercial Property Lawyers
We offer a legal consultation at no cost with our commercial property lawyers. This legal consultation does not have obligations; if you chose not to retain our specialized commercial and business lawyers, no fees will be charged. Our offices are conveniently located throughout Canada.
LAWYER HELPLINE: ☎ 855 804 7145