As most Americans know, owning real estate can be both very exciting and stressful, both in residential and commercial real estate. The real estate market has a significant influence not only on the status of one’s financial stability but with our nation’s economy as well. When deciding on purchasing a property or piece of land, it can be intimidating trying to figure out the different laws and regulations that come with real estate, making it important to build a basic understanding of real estate and construction law.
What Is Real Estate Law?
In its simplest terms, real estate law, which is also known as real property law, refers to the laws and regulations that come with land and properties, if any, that are on it. To be more specific, it refers to the legal rights and obligations that an individual or company has following a purchase of either a residential or commercial property or piece of land. While this may not seem necessary when closing on a home that you recently purchased, it is an incredibly important area of law to understand for both company and property owners.
Commercial Real Estate
To give an example, if a company were to decide that they want to relocate to a new office in a new location, one of the first responsibilities will be to find a property that can accommodate their requirements. In big cities around the country, purchasing or leasing a commercial property is a long, detailed process, given that commercial buildings are more expensive to build and manage than residential real estate. To help them navigate the entire process, from searching to closing the deal, many companies will consult with a commercial real estate lawyer to get through the numerous requirements.
What Are The Benefits Of Real Estate Attorneys?
With specialized training in real estate and construction, real estate lawyers can help you find a property that fits your company’s budget and logistics. They will also be available to walk through the paperwork that comes with the process, taking the stress off of you as company owners. Real estate lawyers can help streamline the process, giving you the flexibility to dedicate your time and energy elsewhere.
Janine Getler is a Principal at Gelter, Gomes & Sutton PC, a real estate and construction law firm in New York City that provides specialized attention towards business owners and New York City high-rises.