Have you found yourself in a complex commercial real estate situation in Orem, Utah? Look no further than Jeremy Eveland, your go-to commercial real estate lawyer in the area. With his comprehensive knowledge and expertise in this field, Jeremy is here to navigate you through the intricacies of commercial real estate law. Whether you are facing issues with leases, contracts, or property disputes, Jeremy is committed to providing you with personalized legal advice and solutions. Don’t hesitate to reach out for a consultation with Jeremy Eveland and take the first step towards resolving your commercial real estate matters.
What is Commercial Real Estate Law?
Definition of commercial real estate law
Commercial real estate law refers to the legal framework that governs the buying, selling, leasing, and development of commercial properties. It encompasses a wide range of legal issues and regulations that protect the rights and interests of individuals and businesses involved in commercial real estate transactions. Whether you are a landlord, tenant, buyer, seller, developer, or investor, understanding the intricacies of commercial real estate law is essential to navigate complex transactions and protect your legal interests.
Importance of hiring a commercial real estate lawyer
Navigating the intricacies of commercial real estate transactions can be daunting, and even the slightest oversight or mistake can have serious consequences. Hiring a commercial real estate lawyer is crucial to ensure that all legal aspects of your transaction are handled properly. A skilled lawyer can provide invaluable guidance, negotiate favorable terms, and protect your interests throughout the entire process. From drafting contracts to resolving disputes, a commercial real estate lawyer can provide the expertise and support needed for a smooth and successful transaction.
Services Provided by a Commercial Real Estate Lawyer
Contracts and negotiations
One of the primary services provided by a commercial real estate lawyer is drafting and reviewing contracts. Whether you are buying, selling, or leasing a commercial property, it is crucial to have a legally binding agreement that outlines the terms and conditions of the transaction. A skilled lawyer can assess the needs and objectives of all parties involved, negotiate favorable terms, and ensure that the contract reflects the agreed-upon terms.
Title examination and due diligence
Before purchasing a commercial property, it is essential to conduct a thorough title examination and due diligence to identify any potential issues or risks. A commercial real estate lawyer can review the title history, conduct lien searches, and examine relevant property records to ensure that the title is clear and free of encumbrances. By performing comprehensive due diligence, a lawyer can help you avoid any future legal complications or surprises.
Lease agreements and tenant disputes
Commercial lease agreements can be complex and often require careful negotiation and drafting. A commercial real estate lawyer can assist both landlords and tenants in negotiating and drafting lease agreements that protect their respective interests. Additionally, in the event of a tenant dispute or violation of lease terms, a lawyer can offer guidance and representation to resolve the issue in a fair and efficient manner.
Financing and mortgages
Commercial real estate transactions often involve significant financial investments and require financing through loans or mortgages. A commercial real estate lawyer can help navigate the complexities of financing, including negotiating loan terms, reviewing mortgage agreements, and ensuring compliance with relevant regulations. Their expertise can help streamline the financing process and ensure that your interests are protected.
Zoning and land use regulations
Zoning and land use regulations play a crucial role in commercial real estate development and construction. Compliance with these regulations is essential to avoid legal complications and ensure that your property is used in a manner that aligns with local laws. A commercial real estate lawyer can provide guidance on zoning requirements, assist with obtaining necessary permits and approvals, and handle any legal issues related to land use regulations.
Property development and construction
For individuals or businesses involved in property development and construction projects, a commercial real estate lawyer can offer valuable legal advice and support. From reviewing construction contracts to addressing any issues that may arise during the construction process, a lawyer can help safeguard your interests and ensure that your project proceeds smoothly.
Environmental laws and compliance
Environmental laws and regulations impact commercial real estate transactions, particularly when it comes to issues such as contamination, hazardous materials, and environmental liabilities. A commercial real estate lawyer can help assess and address any potential environmental risks associated with a property, ensure compliance with environmental laws, and navigate the complexities of environmental due diligence.
Litigation and dispute resolution
In the event of a legal dispute or litigation related to a commercial real estate transaction, having a skilled commercial real estate lawyer is crucial. Whether it involves breach of contract, lease disputes, boundary issues, or construction defects, a lawyer can provide representation and advocate for your rights in negotiations, mediation, arbitration, or court proceedings. Their expertise in commercial real estate law can help achieve a favorable resolution and protect your legal interests.
Qualifications and Expertise
Education and licensing requirements
To practice as a commercial real estate lawyer, individuals must first complete a bachelor’s degree, followed by a Juris Doctor (J.D.) degree from an accredited law school. After obtaining a law degree, aspiring lawyers must pass the state bar exam to become licensed and eligible to practice law. It is important to ensure that any commercial real estate lawyer you hire is properly licensed and authorized to practice law in your jurisdiction.
Experience in commercial real estate
Experience in commercial real estate law is a crucial factor to consider when selecting a lawyer for your commercial real estate needs. Look for a lawyer who has extensive experience handling commercial real estate transactions similar to yours. An experienced lawyer will have a deep understanding of the legal intricacies involved in commercial real estate and will be able to navigate complex transactions with confidence.
Specializations and certifications
Some lawyers may have specialized certifications or additional qualifications in specific areas of commercial real estate law. These certifications can demonstrate a lawyer’s expertise and commitment to staying current with the latest industry developments. When choosing a commercial real estate lawyer, consider any specialized certifications or qualifications that may be relevant to your specific needs.
Knowledge of local laws and regulations
Commercial real estate laws and regulations can vary from one jurisdiction to another. It is crucial to hire a commercial real estate lawyer who has in-depth knowledge of the local laws and regulations governing commercial real estate transactions in your area. This local expertise will ensure that your lawyer is well-equipped to handle the legal requirements specific to your jurisdiction.
Benefits of Hiring a Commercial Real Estate Lawyer
Avoiding legal pitfalls and costly mistakes
Commercial real estate transactions can be complex, and even a small oversight or mistake can have serious legal and financial consequences. Hiring a commercial real estate lawyer provides you with expert guidance to navigate the transaction process without encountering any legal pitfalls. A lawyer’s attention to detail and knowledge of the law can help prevent costly mistakes and protect your interests.
Ensuring compliance with regulations
Commercial real estate transactions are subject to numerous laws and regulations that must be complied with. A commercial real estate lawyer is well-versed in these regulations and can ensure that all necessary permits, approvals, and documentation are obtained and filed correctly. By staying in compliance with the law, you reduce the risk of facing costly penalties or legal disputes down the line.
Negotiating favorable terms and conditions
Negotiating the terms and conditions of a commercial real estate transaction can be complex and require thorough understanding of the legal implications. A commercial real estate lawyer can act as your advocate and negotiator, ensuring that your interests are protected while securing the most favorable terms for your transaction. Their expertise in negotiation can help you achieve a more advantageous outcome.
Protecting your interests in transactions
Whether you are buying, selling, leasing, or developing a commercial property, it is crucial to protect your legal interests throughout the transaction. A commercial real estate lawyer will review all contracts and agreements, ensuring that they are fair, legally binding, and in your best interest. Your lawyer will work diligently to safeguard your rights and mitigate any potential risks or liabilities.
Efficient resolution of disputes
In the event of a dispute or legal issue related to your commercial real estate transaction, having a commercial real estate lawyer on your side can facilitate efficient resolution. Your lawyer can provide sound advice, advocate for your interests, and work towards a favorable resolution through negotiation, mediation, or litigation if necessary. Their expertise in commercial real estate law ensures that your dispute is handled effectively and in a timely manner.
How to Choose the Right Commercial Real Estate Lawyer
Evaluate their experience and track record
Before hiring a commercial real estate lawyer, it is important to evaluate their experience and track record in handling similar transactions. Look for a lawyer who has a proven history of success and a strong reputation in the field. Consider their experience with the specific type of commercial real estate transaction you are undertaking to ensure they have the necessary expertise to handle your case.
Consider their knowledge of the local market
Commercial real estate transactions are often influenced by local market conditions and trends. Ideally, you should hire a commercial real estate lawyer who has extensive knowledge of the local market in which your commercial property is located. Their understanding of the local market can provide valuable insights and help navigate any unique legal considerations specific to your area.
Assess their communication and negotiation skills
Effective communication and negotiation skills are vital in any commercial real estate transaction. Evaluate the lawyer’s ability to effectively communicate complex legal concepts in a clear and understandable manner. Additionally, consider their negotiation skills and ability to advocate for your interests in a persuasive manner. A lawyer who can effectively communicate and negotiate on your behalf will greatly enhance the success of your transaction.
Inquire about their availability and responsiveness
Commercial real estate transactions often have tight deadlines and require prompt action. It is important to hire a lawyer who is accessible and responsive to your needs. Inquire about their availability and how quickly they typically respond to client inquiries. A lawyer who prioritizes your needs and can provide timely guidance and support is crucial to the success of your transaction.
Discuss fees and billing arrangements
Before hiring a commercial real estate lawyer, it is important to discuss and clarify their fees and billing arrangements. Different lawyers may have different fee structures, such as hourly rates or flat fees. It is important to ensure that their fees are within your budget and that you fully understand the billing arrangements to avoid any surprises later on.
Understanding Commercial Real Estate Transactions
Buying and selling commercial properties
Buying and selling commercial properties involve a series of legal steps that must be followed to ensure a smooth and legally sound transaction. A commercial real estate lawyer can assist in drafting and reviewing the purchase or sale agreement, conducting due diligence, facilitating negotiations, and handling the closing process. Their expertise in commercial real estate law is essential to protect your interests and ensure compliance with all legal requirements.
Leasing and subleasing agreements
Commercial lease agreements are complex legal documents that establish the terms and conditions under which a commercial property is leased. A commercial real estate lawyer can assist both landlords and tenants in negotiating and drafting lease agreements that address their specific needs and protect their interests. Additionally, they can provide guidance on subleasing agreements if a tenant wishes to sublease the property to another party.
Property management and leasing disputes
Managing commercial properties can involve dealing with various legal issues and disputes. A commercial real estate lawyer can provide guidance on property management issues, such as collecting rent, evicting tenants, and addressing maintenance disputes. In the event of a leasing dispute, a lawyer can offer representation to resolve the issue through negotiation or, if necessary, litigation.
Financing and mortgage agreements
Securing financing through loans or mortgages is often necessary for commercial real estate transactions. A commercial real estate lawyer can review and negotiate loan terms, review mortgage agreements, and ensure compliance with financing requirements. Their expertise can help protect your interests and ensure that the financing aspect of your transaction is handled correctly.
Property development and construction contracts
Property development and construction projects involve various legal considerations that must be addressed to ensure a successful outcome. A commercial real estate lawyer can review and draft construction contracts, assist with obtaining necessary permits and approvals, and address any legal issues that may arise during the development or construction process. Their expertise can help mitigate risks and protect your legal interests throughout the project.
Brokerage agreements and commissions
When engaging the services of a real estate broker, it is important to have a clear and legally binding brokerage agreement in place. A commercial real estate lawyer can assist in negotiating and drafting brokerage agreements, ensuring that they adequately protect your interests and outline the agreed-upon terms. In the event of a dispute over commissions or brokerage fees, a lawyer can provide guidance and representation to resolve the issue satisfactorily.
Common Legal Issues in Commercial Real Estate
Breach of contract
Breach of contract occurs when one party fails to fulfill their obligations as outlined in a legally binding agreement. In commercial real estate transactions, breach of contract can have serious consequences. A commercial real estate lawyer can assist in resolving breach of contract disputes through negotiation, mediation, or, if necessary, litigation. Their expertise in contract law will help protect your rights and pursue appropriate remedies.
Title defects and liens
Title defects and liens can create significant legal issues and impact the ownership and transferability of commercial properties. A commercial real estate lawyer can conduct a thorough title examination to identify any title defects or encumbrances that may exist. If title defects or liens are discovered, your lawyer can provide guidance and assistance in resolving these issues and ensuring a clear title for your property.
Lease violations and eviction
Lease violations by tenants can lead to disputes and the need for eviction. A commercial real estate lawyer can help landlords navigate the eviction process, ensuring compliance with all legal requirements and protecting their rights. Additionally, a lawyer can provide guidance on lease enforcement and help resolve any lease violations in a fair and efficient manner.
Boundary disputes and easements
Boundary disputes can arise when there is a disagreement over the exact location of property boundaries. Similarly, easements can create legal complications and restrict the use and development of commercial properties. A commercial real estate lawyer can assist in resolving boundary disputes and negotiating easement agreements to ensure that your rights and interests are protected.
Environmental liabilities
Commercial real estate transactions often involve potential environmental liabilities, such as contamination or hazardous materials. A commercial real estate lawyer can conduct environmental due diligence, assess potential risks, and ensure compliance with environmental laws and regulations. Their expertise can help mitigate environmental liabilities and protect your legal interests in commercial real estate transactions.
Construction defects and delays
Construction projects can encounter defects and delays that can have legal ramifications. A commercial real estate lawyer can review construction contracts, address any issues that arise during the construction process, and ensure that construction defects and delays are resolved in a fair and timely manner. Their expertise in construction law can help protect your interests and mitigate any potential legal disputes.
Non-disclosure and misrepresentation
Non-disclosure of material information or misrepresentation of facts can lead to legal disputes in commercial real estate transactions. A commercial real estate lawyer can assist in reviewing disclosure statements, ensuring that all relevant information is disclosed, and identifying any potential misrepresentations. If non-disclosure or misrepresentation issues arise, your lawyer can provide guidance and represent your interests in resolving the dispute.
When to Consult a Commercial Real Estate Lawyer
Before signing any legal documents
It is advisable to consult a commercial real estate lawyer before signing any legal documents related to a commercial real estate transaction. Whether it is a purchase agreement, lease agreement, or construction contract, having a lawyer review the document ensures that your interests are protected and that you fully understand the terms and implications of the agreement.
When facing a lawsuit or dispute
In the event of a lawsuit or dispute related to a commercial real estate transaction, it is crucial to consult a commercial real estate lawyer as soon as possible. Your lawyer can assess the situation, provide guidance on the best course of action, and represent your interests in negotiations or legal proceedings. Their expertise in commercial real estate law will be instrumental in achieving a favorable outcome.
When dealing with complex transactions
Complex commercial real estate transactions often involve numerous legal nuances and considerations. Consulting a commercial real estate lawyer is essential to navigate these complexities and ensure that all legal requirements are met. Their knowledge and experience in commercial real estate law will help streamline the transaction process and minimize the risk of legal complications.
When seeking expert advice and guidance
Even if you are not currently involved in a specific commercial real estate transaction, consulting a commercial real estate lawyer can provide valuable advice and guidance. Whether you are considering a future transaction, need assistance with property management issues, or have general inquiries about commercial real estate law, a lawyer can offer the expertise and insights you need to make informed decisions.
Costs and Fees of a Commercial Real Estate Lawyer
Hourly rates vs flat fees
Commercial real estate lawyers may charge fees based on hourly rates or flat fees, depending on the nature and complexity of the legal matter. Hourly rates involve charging a set fee for each hour of legal service provided, while flat fees involve a predetermined amount for handling a specific legal task or transaction. It is important to discuss and clarify the fee structure with your lawyer before engaging their services.
Additional expenses and disbursements
In addition to legal fees, there may be additional expenses and disbursements involved in commercial real estate transactions. These expenses can include costs for conducting title searches, obtaining permits and approvals, filing fees, and other related expenses. It is advisable to discuss these potential expenses with your lawyer and have a clear understanding of how they will be handled.
Retainer and contingency fee arrangements
Some commercial real estate lawyers may require a retainer fee upfront, which serves as an advance payment for legal services. The retainer fee is typically held in a trust account and applied towards future legal fees. Contingency fee arrangements may be an option in certain cases, particularly if the lawyer believes there is a high likelihood of success and recovery in a legal dispute. In a contingency fee arrangement, the lawyer’s fee is contingent upon the successful outcome of the case, typically a percentage of the recovery amount.
Factors influencing the cost of legal services
The cost of hiring a commercial real estate lawyer can vary depending on several factors, including the complexity of the legal matter, the lawyer’s experience and reputation, the local market, and the specific needs of the client. It is important to have a transparent discussion about fees and ask for a written agreement that outlines the expected costs and billing arrangements to avoid any misunderstandings or surprises.
Conclusion
In the complex world of commercial real estate, having the guidance and expertise of a skilled commercial real estate lawyer is invaluable. From navigating transactions and negotiations to resolving disputes and ensuring compliance with regulations, a commercial real estate lawyer can protect your interests and help you achieve your goals in commercial real estate. If you need a commercial real estate lawyer in Orem, Utah, contact Jeremy Eveland for a consultation. With his extensive experience and expertise in commercial real estate law, Jeremy Eveland can provide the legal support and representation you need for a successful transaction. Don’t navigate the complexities of commercial real estate alone – reach out to Jeremy Eveland for expert advice and guidance. Your investments and legal interests deserve the best legal representation.
