This article is the last in our three-part series about the role of a commercial real estate lawyer in MA and NH. If you have read our previous two posts on this subject, you know that a commercial real estate lawyer has many tasks before, during, and even after a real estate transaction is complete. In this third installment of our series on commercial real estate, we are focusing on what happens at the end and after the conclusion of a real estate transaction.
A commercial real estate lawyer in MA or NH has an important and complex role. Here is one more look at this role.
Closing the Deal
Once both parties have agreed on the terms, a lawyer double-checks all the documentation and ensures the deal is legally binding. This step is much more than dotting the i’s and crossing the t’s. If either party or their legal representatives miss something, the entire transaction could be null and void. The final review process includes:
- Reviewing and signing closing documents.
- Ensuring proper title transfer and recording with local authorities.
- Ensuring that all conditions of the deal (e.g., financing approval, property inspections) have been met before the transaction is finalized.
Ongoing Representation
Even after a real estate transaction closes, lawyers continue to provide ongoing legal services. Owning a commercial property brings new legal responsibilities, including:
- Property management and leasing issues.
- Handling disputes that may arise during the ownership or leasing period.
- Contract modifications or extensions.
- Advising on any necessary real estate tax filings.
Specialized Areas of Practice
Different lawyers and legal teams have different areas of expertise. Depending on what you plan to do with a commercial property, there can be different legal implications or requirements. Some of the relevant areas of legal expertise include:
- Real estate development (e.g., zoning, land use, and entitlement issues).
- Real estate finance (e.g., securitizations, syndications).
- Environmental law (e.g., compliance with hazardous materials laws or brownfield remediation).
- Eminent domain and condemnation (in cases where the government is taking property for public use).
Commercial Real Estate Lawyer in MA & NH | Feniger, Uliasz & Stacey
If you are buying or selling commercial real estate in MA or NH, you need our team at Feniger, Uliasz & Stacey. We have the knowledge and expertise to help you navigate the complexities of commercial property law.