COMMERCIAL REAL ESTATE
ATTORNEY IN MINNEAPOLIS, MINNESOTA
The commercial real estate market in Minneapolis and all across Minnesota has always been complex and dynamic. Commercial real estate involves a wide range of legal nuances and intricacies as well as many requirements and potential complications to be aware of. At Engel Professional Association, our commercial real estate attorney in Minneapolis, Minnesota, can help you navigate the complexities involved in the process of buying, selling, and leasing commercial property.
Our attorney is here to ensure that your rights are protected at every step of the commercial real estate transaction and minimize the chance of any legal issues occurring. With an office based in Minneapolis, we also serve clients in other parts of Minnesota, including St. Paul, Maple Grove, Woodbury, St. Cloud, and Mankato.
Commercial Real Estate and the Law
Commercial real estate is property used by individuals or businesses with the potential to generate profit. By contrast, residential real estate is intended for human habitation by individuals or families. There are a number of laws that govern commercial real estate, including:
Disclosure laws. These laws are intended to safeguard both the seller and buyer in transactions involving commercial property by ensuring that the parties are aware of the material facts affecting the value of the property.
Zoning and land use laws. Every property in Minnesota is subject to zoning and land use laws, which determine how the owner/lessee must use the property (commercial vs. residential vs. industrial).
Landlord and tenant laws. These laws are designed to protect the rights of landlords (lessors) and tenants (lessees) involved in rental or lease agreements. In particular, landlord and tenant laws govern privacy rights, rental payments, rights of termination, payment of taxes, and other issues.
Insurance laws. Typically, owners of commercial properties purchase insurance coverage to protect themselves from potential liability claims and safeguard their investments. As a seller or buyer of commercial real estate, it is important to understand the insurance requirements in the transaction.
Contract law. Real estate contracts must meet several requirements to be enforceable and valid. For example, the terms outlined in the contract must contain warranties and representations.
When selling, buying, or leasing commercial property, consulting with a commercial real estate attorney in Minneapolis, Minnesota, can help ensure that your transaction is completed smoothly and in accordance with all applicable laws and regulations.
How a Real Estate Attorney Can Help
The role of a real estate attorney in transactions involving commercial property cannot be overstated. Here are some of the ways a commercial real estate attorney can help:
Review and prepare paperwork. Your attorney can assist with a thorough review of documents and comprehensive preparation of the paperwork necessary to initiate and complete your transaction.
Conduct due diligence. A skilled attorney can help inspect and investigate specific issues related to commercial property, analyze the financial documents, and ensure that the due diligence process is done correctly.
Identify potential issues. Being represented by a commercial real estate attorney can also minimize the chance that any issues could arise during or after the transaction. Your attorney will help identify potential issues with title records, property tax information, rental/lease agreement, and other pertinent information.
Ensure that the transaction goes smoothly. Your attorney will keep you informed throughout the entire transaction and ensure that that process goes as smoothly as possible.
A commercial real estate transaction can be a risky endeavor. If you are not careful, you could end up losing a lot of money (if you are the buyer) or not be able to sell your property (if you are the seller), not to mention a number of other possible legal and financial repercussions. At Engel Professional Association, it is our job to work with clients to ensure that every transaction moves forward smoothly and efficiently from the very beginning, through preparations and negotiations, and all the way to closing.
COMMERCIAL REAL ESTATE ATTORNEY IN MINNEAPOLIS, MINNESOTA
Real estate transactions involving commercial property come with significant financial risk. For this reason, you might want to consider working with an experienced attorney at Engel Professional Association. Our commercial real estate attorney in Minneapolis, Minnesota, strives to help our clients maximize their investments, protect their rights and interests, minimize risks, and ensure that everything is in order. Reach out today to set an appointment to discuss your specific situation.