Due diligence is a necessary part of any business transaction. In the context of buying or leasing commercial property, the goal of due diligence is to review and analyze all relevant information which bears on the property or the seller/landlord in order make a well-informed decision about moving forward with the acquisition or lease. The…
Nassau County recently announced a new service designed to alert county residents of fraudulent property record filings with the Nassau County Clerk. “Nassau County Property Fraud Alert” is an electronic notification service that alerts residents via email any time a land record document (deed, mortgage, lien, etc.) is recorded on their home. Suffolk County has…
Commercial leases are complex and can be intimidating to tenants who may have less power in negotiations. Even worse, the effects of a bad lease can last for years. If you must move or if your business fails, you may still be on the hook for payments. That’s why it’s crucial that you fully understand…
For those thinking about selling investment property, the time may be right to take advantage of tax-deferred exchanges. Thanks to §1031 of the Internal Revenue Code, a properly structured transaction will allow an investor to sell a property, to reinvest the proceeds in a new property and to defer all capital gains taxes. Such a…
Renewal options in commercial leases are valuable to landlords and tenants. For tenants, they provide the opportunity to lock in the space, costs and other negotiated benefits for another lease term. Landlords benefit by having more certainty of keeping a tenant and avoiding the time and expense of finding someone else and making improvements to…
As of June 27, 2016, commercial property owners, landlords and tenants are required to comply with legislation regarding carbon monoxide detectors. For those who don’t have the mandated detection equipment, it’s time to look at your lease agreement to determine who is responsible for compliance with the law. Non-compliance can result in civil, criminal or…
So, you’re thinking about buying a franchise? Maybe you thought about it on your own, or someone has approached you about buying one. Many people will have you believe that buying a franchise is a fast track to success and riches. Like buying any other business, there are pros and cons. In this article, we…
There are many complex legal issues that can arise when negotiating a commercial lease, whether it be a lease for office, retail, warehouse or industrial space. Here are five reasons why you need to consult an attorney when leasing commercial space. 1. Commercial Leases are Favorable to Landlords. Commercial leases are drafted by the landlord,…
