A Commercial Property Lawyer You Can Count On
Commercial Property Law is property used for business purposes, but it can also refer to land which generates some sort of profit for the owner. If the mortgaged premise is a commercial property, the mortgagor shall maintain and keep in force during the continuance of the mortgage, loss of rental income and third-party liability coverage in such amount and in such form as the mortgagee may from time to time require.
As a resource offering commercial real estate lawyer services, Dimic Law provides the advice necessary to ensure transaction efficiency and future planning, helping to prevent costly disputes in the long run. We act as commercial property lawyers that will serve a range of organizations to help investors and develop maximized value. Just as we have extensive knowledge regarding employment law as corporate lawyers in Calgary we also know the importance of timing and efficiency when you are moving your business. We ensure the smooth processing of your commercial property’s sale or purchase and tackle any legal issues that come up during the sale.
Dimic Law is here to protect what matters most!
Additional Searches When Seeking a Commercial or Multi-Family Residential Loans
Environmental Law Center
The Fire Department
Developmental Compliance Branch
Planning and Development Branch
Make a Confident and Well-Informed Decision When Purchasing Land
It is important that you consider items when making a large investment in property. This can include tenants occupying the building, property tax trends in the neighbourhood, title searches, zoning by-laws, environmental issues, and other matters that are similar.
Dimic Law allows our clients to be confident in the decisions you make when purchasing or leasing commercial real estate through their attention to detail. As dedicated corporate lawyers in Calgary, we assure you that every step has been taken for the client’s benefit. Our goal is to make sure that our clients are informed and familiar with the property they are buying and know all there is to know about the contract that they will be signing.
Traverse the Process of Selling Land With Legal Professionals
When dealing with the sale of commercial real estate, it’s crucial to optimize the returns on your investments. In the realm of successful business operations, steering clear of legal disputes and other complications during commercial real estate transactions holds significant importance.
At Dimic Law, we possess in-depth experience in the commercial real estate sector, complemented by a solid understanding of small business law. This enables us to offer our clients meticulous and comprehensive legal guidance.
Frequently Asked Questions
Why do I need a lawyer for a commercial real estate transaction?
A commercial real estate lawyer can review the agreement, examine the property title, identify legal and financial risks, prepare closing documents, and coordinate with lenders, brokers, municipalities, and the other party’s lawyer. Legal review can help prevent delays, unexpected expenses, and future disputes.
What should be reviewed before purchasing a commercial property?
A buyer should consider the property title, existing tenants and leases, zoning bylaws, property tax history, environmental concerns, permits, outstanding work orders, financing requirements, and any restrictions that may affect the intended use of the property.
What searches may be required when buying commercial real estate?
Depending on the property and financing requirements, searches may involve environmental authorities, the fire department, municipal development compliance, and planning and development departments. These searches may reveal complaints, control orders, fire deficiencies, bylaw violations, missing permits, or outstanding work orders.
Why is a title search important?
A title search helps confirm the registered owner and identify mortgages, liens, easements, restrictive covenants, caveats, or other registrations affecting the property. These matters may influence the buyer’s ability to use, finance, develop, or sell the property.
How can zoning affect a commercial property purchase?
Municipal zoning rules determine how a property may be used and developed. Before completing a purchase, the buyer should confirm that the current or intended business activity is permitted and determine whether additional approvals, permits, or zoning changes may be required.
What should I know about existing tenants in a commercial property?
Existing leases may continue after ownership changes. A buyer should review rental income, lease terms, renewal options, security deposits, tenant obligations, landlord responsibilities, arrears, and any ongoing disputes before completing the transaction.
Can a lawyer assist with the sale of commercial property?
Yes. A lawyer can review or prepare the sale agreement, address title issues, review closing conditions, communicate with the buyer’s lawyer and lender, prepare transfer documents, and help complete the legal closing.
