Commercial Real Estate
Real property is land and the
things permanently attached to the land. These attachments,
called improvements, include homes, garages, and buildings.
Substances that are beneath the land (such as gas, oil, and
minerals) are also considered permanently attached. Other
items, which can be attached to the land, such as mobile homes
and tool sheds, are not considered real property. All of
these items (land, property, attachments, and substances)
equal real estate.
There are many risks involved with owning real property. Some
of those risks include liability for violating zoning
ordinances, liability for injuries occurring on your property,
and liability to third parties (mortgage lenders).
To fully understand your contracts, closings,
risks and property, you should contact an experienced Coover & Barr, LLC real estate lawyer.
The term “commercial real estate” refers to
retail properties, office buildings, shopping
centers, hotels, warehouses, manufacturing facilities,
apartment complexes – and vacant land that has the potential
for development of these types of buildings. In short, almost
any kind of real estate except single-family homes and land
fall into the category of commercial real estate.
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