Lawyers play a crucial role in commercial real estate transactions and projects. They provide legal guidance and ensure that all aspects of the deal comply with relevant laws and regulations. Their responsibilities cover various stages of a deal, from negotiating and drafting contracts to resolving disputes. This article is the first in a three-part series in which our team at Feniger, Uliasz & Stacey examines the role of a commercial real estate lawyer in NH.
A commercial real estate lawyer in NH has many roles and responsibilities—too many to list in one article. Here’s the first part of our look at these roles.
Due Diligence
The first step in any legal process is due diligence. Lawyers assist with this process in commercial real estate transactions by reviewing the property’s legal and financial history. Elements of this process include:
- Title searches to ensure that the property’s title is clear (i.e., there are no undisclosed liens or encumbrances).
- Reviewing zoning laws to ensure that the property can be used for its intended purpose.
- Investigating environmental issues (e.g., contamination, compliance with environmental regulations).
- Examining existing leases or contracts to ensure that the seller or landlord has the right to transfer the property and that the terms are consistent with the transaction.
Contract Drafting and Negotiation
Lawyers play a pivotal role in drafting, reviewing, and negotiating contracts involved in commercial real estate transactions. Lawyers ensure that agreement terms are fair and legally sound, protect their client’s interests, and help identify and mitigate risks. The key elements of drafting and negotiation are:
- Purchase agreements for the sale of property.
- Lease agreements for tenants and landlords.
- Financing agreements for loans or investments.
- Development agreements for construction projects.
Financing and Loan Agreements
Financing is often a key component in commercial real estate. Lawyers help structure and negotiate loan agreements between lenders and borrowers. They review the terms of the financing, ensuring that all documentation is legally enforceable and in compliance with applicable laws.
Leasing
Commercial leases are typically more complex than residential leases. Lawyers draft and negotiate lease terms for tenants or landlords, covering issues such as:
- Lease duration, rent structure, and renewal options.
- Responsibilities for maintenance and repairs.
- Rights of first refusal, options to purchase, and subleasing.
- Dispute resolution procedures.
NH Commercial Real Estate Lawyer | Feniger, Uliasz & Stacey
If you are purchasing, developing, or leasing a commercial property in NH, you need a commercial real estate lawyer to assist you. Our team at Feniger, Uliasz & Stacey is ready to help you throughout the process. Contact us today for more information.