We use cookies to improve security, personalize the user experience,
enhance our marketing activities (including cooperating with our marketing partners) and for other
business use.
Click "here" to read our Cookie Policy.
By clicking "Accept" you agree to the use of cookies. Read less
What You Need to Know About Real Estate Commercial Law
Definition & Meaning
Real estate commercial refers to property that is primarily used for business purposes, generating income through leasing or selling. The contracts for buying or selling commercial real estate share similarities with residential property contracts, but they often require more detailed provisions. This is due to factors such as existing leases, zoning regulations, and the intended use of the property, which must be clearly outlined in the sales agreement.
Table of content
Legal Use & context
This term is commonly used in real estate law, which encompasses the buying, selling, and leasing of commercial properties. Legal practitioners often deal with contracts, negotiations, and disputes related to commercial real estate transactions. Users can manage some aspects of these transactions themselves by utilizing legal templates from US Legal Forms, which are drafted by experienced attorneys.
Key legal elements
Real-world examples
Here are a couple of examples of abatement:
Example 1: A company purchases a retail space that is currently leased to a tenant. The sales contract must specify the terms of the lease and how it will be handled after the sale.
Example 2: A developer intends to buy land for a new office building. The contract needs to include zoning requirements and any conditions related to obtaining permits. (hypothetical example)
State-by-state differences
Examples of state differences (not exhaustive):
State
Key Differences
California
Stricter disclosure requirements for commercial sales.
Texas
Less regulation on commercial leases compared to residential.
New York
More complex zoning laws affecting commercial properties.
This is not a complete list. State laws vary and users should consult local rules for specific guidance.
Comparison with related terms
Term
Definition
Key Differences
Residential Real Estate
Property used for living purposes.
Focus on personal use rather than income generation.
Commercial Lease
A contract for renting commercial property.
Specific to rental agreements rather than sales.
Common misunderstandings
What to do if this term applies to you
If you are considering buying or selling commercial property, it is essential to understand the specific legal requirements involved. You can explore US Legal Forms for ready-to-use legal templates that can help you draft agreements and navigate the process. However, if your situation is complex, seeking professional legal assistance is advisable to ensure compliance and protect your interests.
Find the legal form that fits your case
Browse our library of 85,000+ state-specific legal templates.