The world of corporate real estate involves a lot of legalities. Unsurprisingly, that means folks who operate in that world will often require the services of a corporate real estate attorney. If you're wondering whether one might be able to assist you, here are five things they regularly handle on behalf of their clients.
In the simplest sense, a corporate real estate lawyer does a lot of the same things an attorney who only handles residential work takes on. On the transactional side, they handle things like title searches, transfers of deeds, placing or stripping liens, and drawing up contracts.
Similarly, a corporate real estate attorney is also able to represent a client in a wide range of disputes. Although fairly rare, misrepresentations and fraud are among the most common types of disputes that lead to lawsuits in real estate.
Real estate investment trusts are among the things that make the corporate world of property significantly different than residential practice. A REIT is an investment vehicle that allows a company to bundle many properties together into a security. Folks can then invest in that security rather than trying to invest separately in pieces of property.
Generally, a REIT is focused on a certain type of property, such as apartment complexes, office buildings, or retail stores. Likewise, REITs frequently focus on acquiring properties in specific cities, states, or regions.
Especially for corporations that own and lease out many properties, it can be challenging to deal with numerous properties. If you need to set up a separate company to manage the properties, a corporate real estate attorney can help you put things in order.
It's not uncommon for corporations to require easements. Particularly when it comes to industrial activities, easements are often required to deal with issues like noise, traffic, and smells. The lawyer will contact the neighbors who might be affected by activities on your property to offer them good compensation in exchange for accepting an appropriate easement.
Easements like the ones that homeowners offer their neighbors are also sometimes required. For example, you might need an easement to move vehicles across a parking lot owned by a neighboring business. If you're putting up an office building that obstructs a previously clear view, you may also want to compensate the offended parties and acquire easements from them. The terms of the easements should maximize long-term utility for your company too.