When investing money in a commercial real estate property, it’s essential to understand that you must do everything in your power to ensure the deal you’re making represents your best interests. Not only do you want to guarantee your money is going to something that will only help your business succeed, but you’ll also want to ensure that you’re protecting yourself from potential legal issues during the transaction. Unfortunately, it’s not uncommon for commercial real estate legal disputes to arise, so doing what you can to avoid these instances is critical. Keep reading to learn more about these problems, how to evade them, and why connecting with a Texas commercial real estate lawyer is vital.
What Are Common Commercial Real Estate Legal Disputes?
Generally, one of the most common issues that arise during commercial real estate transactions is a breach of contract. If one party does not hold up their end of the transaction or agreement, they violate the terms and conditions of the agreement. As such, a legal dispute can arise, as a contract is a legally binding document.
Additionally, you may find that fraud is common in these transactions. Generally, anytime one party lies or misrepresents the truth regarding the property or their responsibilities, it can be considered fraud.
How Can I Protect Myself From These Problems?
If you are about to begin a commercial real estate transaction, there are steps you can take to help protect yourself. Generally, the most important rule of any contract or transaction is to get everything in writing. Though oral contracts can be legally binding, it is hard to prove the exact terms and conditions you agreed to verbally. As such, you should get everything in writing, as this can help reduce confusion regarding the responsibilities of both parties, meaning you may be able to avoid legal disputes more easily as the information the parties must adhere to is in writing.
Additionally, it is in your best interest to connect with an experienced commercial real estate attorney before engaging in any transactions. Not only can they help look over the contracts and legal documents to ensure everything is in order and legitimate, thus helping you avoid fraudulent contracts, but they can also help represent you should anything go wrong during this process. For example, if you discover a breach of contract has occurred, they may be able to help mitigate damages without escalating the matter to court.
As you can see, there are many considerations you’ll need to make when engaging in a commercial real estate transaction, which is why the team at Dillard Property Law, PLLC, is ready to fight for you. We understand how complex and confusing these matters can be, especially when you have a business to run. That’s why our team can handle these matters so you have peace of mind that your investment is in good hands. Connect with us today to learn how we can fight for you.
