Small business owners are the backbone of our economy. They are the entrepreneurs who solve important problems through their service. It is always exciting when a startup business grows, and the business requires a new space to continue the growth.
A small business owner considering signing a commercial lease should take great care in understanding the implications of each section. Commercial leases are different from residential leases. Residential leases are usually very simple, contain standard form language and are subject to consumer protection laws. Commercial leases are far more complex and require a great deal of analysis to understand the implications to the tenant.
Here are just three of the most common sections pertaining to commercial leases that small businesses should understand:
I am often asked by worried property owners involved in a legal case whether they can simply sell their properties and ignore the case. After all, if the property owner liquidates everything, how can the opposing party collect a judgment? Is it not cheaper to liquidate rather than defend a case and pay a judgment?
The quick answer is that there is no law that prohibits a sale, but the seller probably will not like the consequences. If the opposing party discovers the property has been listed for sale, an emergency petition can be filed to stop the sale. But even if the seller can make a transfer without the opposing party’s knowledge, the sale can still be reversed.
Real estate is one of the world’s oldest forms of investment. What happens when you pair land and buildings with cutting edge technology like “blockchain”? Some of the most innovative real estate investors are experimenting with this technology. Many investment opportunities will be created in the coming years with this technology.
Blockchain is like a database except that it is publicly controlled.