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Contracts form the legal backbone of any commercial real estate transaction. While the two parties can agree to almost any terms they wish when creating these documents, there are certain limitations under state law. In addition, it is vital to draft these contracts with language that clearly states the rights and obligations of all involved to lessen the risk of disputes.
A Plantation commercial real estate contract lawyer is prepared to explain the laws that govern these agreements and draft documents that meet state requirements and protect your present and future rights. Contact the team at All Florida Real Estate Lawyers to learn more about how we can facilitate a smooth transfer of property.
A purchase or sale agreement is the most common example of a commercial real estate contract. This is a binding document between the buyer and seller of a commercial property. These contracts must clearly define all expected terms for conditions of sale before the transfer of ownership, responsibilities of all parties, and payment terms.
Commercial real estate purchase or sale agreements are usually more complex than those involved in residential property acquisition due to differing financing and ownership rights. Foregoing knowledgeable legal representation when drafting or reviewing these documents is not recommended due to these unique aspects.
In addition, sellers do not have an affirmative duty to disclose known defects on commercial land as there is for residential property. Instead, sellers must not actively hide flaws, and any disclosure of a problem must be in good faith and complete. A qualified Plantation attorney can provide more information about the state laws that govern the formation of commercial real estate agreements and ensure the protection of one’s rights.
Entering into a contract for the purchase, sale, or lease of commercial real estate binds the parties into an agreement. This means each party has the ability to seek assistance from a civil court to enforce their rights under the terms of this contract and state law in the event of a breach or dispute. It is important to remember that Florida Statute § 95.11 may set a time limit of five years after the date of a violation to seek enforcement of a contract.
A variety of disputes can occur regarding commercial real estate contracts. Examples include:
A Plantation commercial real estate contract attorney is prepared to identify the reason for a dispute and represent your interests during every phase of negotiation.
Contracts are a vital part of any transfer of commercial property. Whether these involve a purchase/sale agreement or a tenancy, the team at All Florida Real Estate Lawyers is ready to help you ensure legal validity. We can explain how state law governs these agreements, evaluate where you need to protect yourself when forming a contract, and even fight to have a civil court enforce the terms of a contract through litigation. Reach out to schedule a consultation with a Plantation commercial real estate contract lawyer today.
