Locating a property or a tenant for leasing can be a very time-consuming process, so it’s understandable that parties often rush to get the lease signed; however, having a good lease agreement that’s been drafted and reviewed by an attorney can be essential. If issues or disputes arise between the landlord and tenant, it will be too late to address problems with the lease agreement.
Almost everyone has had the opportunity to review a lease during their life, but commercial leases are far more complex. Further, consumer protection laws that save renters from bad landlords often only apply to residential leases, not commercial. With commercial leases, the laws generally assume you are a sophisticated business person and were not “taken advantage of” if your landlord or tenant gives you an unfair lease agreement. Continue reading “Commercial Leases – Drafting and Review”
When purchasing real estate for investment, you should be concerned about the liability your investment property can create. Often, your biggest worry will be paying the mortgage, but don’t think that’s the extent of your possible liability. A personal injury attorney could turn your retirement investment into a wealth destroying nightmare unless you protect your assets.
The most common way to minimize your potential liabilities would be to have your properties held by and managed by a separate entity with limited liability. While you may consider the property to be separate from your personal assets, unless you proactively create that separation, an attorney will pursue your personal assets in addition to the value of the property itself… Continue reading “Form a Maryland LLC for Real Estate Investments”
The fourth article in a series on the purchase and sale of a Maryland business. In this article I address the importance of ensuring necessary commercial leases are preserved following a business sale.
For many businesses, the business location is its most valuable asset. This remains true even if the company only leases the location. Therefore, maintaining the right to use the property following the transfer is of utmost importance. If the lease is valuable to the buyer, it should not be assumed the seller has the right to sublease or assign the lease to the buyer.
Continue reading “Buying or Selling a Maryland Business – Commercial Leases”