In commercial real estate, conveyancing is the legal process of transferring ownership of a property from one party to another. This procedure involves a thorough examination of property rights, zoning laws and other legal and financial aspects. While crucial for a...
Commercial Real Estate
When can you terminate a commercial real estate PSA?
In New York, any agreement involving real estate must be in writing in order to be enforceable. For commercial properties, you need a Purchase and Sale Agreement (PSA). This document spells out all the key parts of the transaction, including the purchase price,...
Why is it important to have a real estate lawyer?
You're about to close on your dream home, the place where you see yourself building a future, or you are selling your fifth piece of real estate. Unfortunately, there’s a mountain of paperwork and complex legal terms involved in the process. It feels overwhelming,...
Key elements to consider during a commercial lease review
When you're considering investing in a commercial property, you will want to know everything about it before making a decision. Lease reviews are a crucial step in this process. They involve taking a close look at all the existing rental agreements for the property,...
Piercing the corporate veil: What does it mean in real estate disputes?
Piercing the corporate veil occurs when a court removes a corporation or LLC's protection from liability and holds its owners or shareholders personally responsible for the company's debts or wrongs. Courts typically do this when individuals misuse the company...
The impact of rent control laws on real estate transactions
New York's rent control laws have a significant impact on real estate transactions across the state. While rent control does not apply to all New York municipalities, it is still relevant in areas such as Westchester County. These laws exist to protect tenants from...
Do you need title insurance?
Whether buying a new home or a commercial property, you should consider among the requirements to close the deal title insurance. It is virtually always a prerequisite when seeking funding to purchase the property. You need both "fee" title insurance to protect...
What costs can a landlord add to a commercial space’s base rent?
Renting a commercial space is essential to starting a business, especially if your operations involve receiving clients for your products or services. As a business owner, examining the commercial lease thoroughly to understand the rent costs is vital. Your agreement...
How can a real estate lawyer help with due diligence?
Commercial real estate transactions tend to be risky and often involve large amounts of money. But by conducting due diligence, buyers might be able to manage the risks better and make educated decisions regarding the transaction. One of the ways for buyers to conduct...
Basic facts about commercial real estate leases
Commercial real estate leases differ significantly from residential leases on several points. Before signing one for your New York business, familiarize yourself with the following items. Lease term Commercial real estate includes retail stores, warehouses,...