Commercial Real Estate Attorney in Union City, New Jersey

If you are buying or selling property for business purposes, an attorney can assist you in negotiating the complex arena of commercial real estate law. At Hudson Law Firm in Union City, New Jersey, our commercial real estate attorney, Edward J. Mullins III, keeps our clients’ business goals in mind while expertly guiding them through their commercial real estate transactions. 

If you’re buying or selling commercial real estate in New Jersey, it is important to grasp how an attorney can help you avoid issues down the line. 

What Is Considered Commercial Real Estate?

Properties are considered commercial real estate if they are used for business purposes. These properties can be anything from office spaces or buildings out of which businesses operate, to factories and land used for agriculture. These properties can also include large apartment complexes that are owned by developers.  

Laws That May Apply to Commercial Real Estate

Commercial real estate laws can be complicated, but you can increase your chances of a successful transaction with experienced legal counsel. A commercial real estate attorney can help you deal with any of the following: 

Disclosure Laws

Disclosure laws govern the types of issues with the property that the seller is required to disclose. In New Jersey, material defects—or any defect in the property that could affect the value or that can endanger others—must be disclosed. Such defects can include water damage, mold, or foundational instability. If the seller does not disclose these defects, the buyer might be entitled to a financial settlement. 

If you are buying a property, it is important to have a lawyer on your side who can ensure that you do not incur financial damage. If you are a seller, it is also important to retain an attorney who can help you avoid lawsuits by aiding you in researching the necessary disclosures, as well as advocating for you if you omitted to disclose a defect in error. 

Zoning Laws

Zoning laws determine how a piece of property on a specific piece of land or area can be used. In New Jersey, every municipality can adopt its own zoning ordinances. A commercial real estate attorney can be invaluable in helping you negotiate zoning laws. For example, if the municipality tries to change the zoning laws around the area in which you want to establish a business, a lawyer can suggest next steps, such as applying for a variance to challenge the ordinance. 

Landlord/Tenant Laws

A commercial real estate attorney can assist in any dispute between a commercial landlord and a tenant. If you are a commercial tenant and believe that you are being wrongly evicted by the landlord, a commercial real estate attorney can use their expertise to argue your case; conversely, they can argue for you if you are a commercial landlord and a tenant has broken the terms of your contract. 

Insurance Laws

In New Jersey, all business owners must have a minimum of $500,000 in liability coverage. This covers injuries resulting from accidents on the business owner’s property. A lawyer can advise you on the right insurance coverage for your business and also represent you in the case of third-party lawsuits. 

Another type of insurance that a lawyer will be familiar with is title insurance. If you have purchased title insurance and a title defect (such as a lien) is found after you close, an attorney can mediate the dispute and help you recover any financial losses. 

Contract Law 

It is always advisable to have a lawyer draft or review a commercial real estate contract for you. Issues like title insurance, zoning and land use, liability insurance, and rights to modify the contract should be included. A commercial real estate attorney will be familiar with all of these areas. During the contract review, a lawyer can also include wording that protects you in case of breach of contract and can advise you if this later applies.  

How a Real Estate Attorney Can Help

The laws governing commercial real estate transactions can be difficult to navigate without proper counsel. A commercial real estate attorney is a valuable asset for a successful outcome in a commercial real estate transaction. Not only can they help protect you in the case of a defect in title, breach of contract, or zoning dispute, but they can work to protect you from lawsuits. A commercial real estate attorney with extensive knowledge of common pitfalls will be proactive in ensuring that you avoid lawsuits and secure a fair deal.