Long Beach Real Estate Lawyers
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Legal Services Offered by Our On-Demand Long Beach Real Estate Attorneys
The Long Beach real estate attorneys & lawyers on UpCounsel help represent landlords, property management companies, condominium associations, and tenants on any issue relating to real estate purchases, leasing, rent increases or decreases, habitability issues, condo conversions, code violations, owner move-in situations, and more.
They also provide client service across residential and commercial real estate disputes ranging from specific performance of a purchase agreement to land use or zoning issues and construction defect litigation. Real estate agents are generally prohibited from attempting to provide legal counsel or to serve as your legal representative in any manner. Therefore, during the course of a property deal you (as the seller or the buyer) should have your interests represented by an experienced Long Beach real estate lawyer.
You should absolutely hire a real estate attorney before you sign any paperwork. If you have already started the process and did not understand every detail of the sales contract then you should hire an experienced real estate attorney found on UpCounsel. Especially if something in your contract doesn-t make sense or seems out of the ordinary. The smallest oversight or clause could end up costing you big time.
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A commercial lease for office or retail space is a serious commitment for your business. They are typically long-term contracts lasting at least five years, the rent is often your second-biggest monthly expense after payroll, and the rights and limitations in your lease agreement have major effects on your ability to expand, contract and relocate your business.
Companies large and small can make major mistakes when planning for new space and negotiating the lease - these are the most common.
1. Not Allocating Enough Time
Conventional wisdom in the commercial real estate industry is to allow six to 12 months to complete a deal for less than 10,000 square feet and nine to 18 months for larger deals. The lead time is required for the various complicated steps in any business relocation - due diligence of possible locations, negotiation of the lease, planning and design of your new space with an architect and engine
- 5 min read
What Is a Condition Subsequent?
A condition subsequent (CS) is an exit clause from an existing contract. The agreement between parties includes language that frees one of them from the deal. This happens when a conditional outcome occurs. A CS relieves a party of all obligations.
What's the Purpose of a Condition Subsequent?
Think of a condition subsequent as an escape clause. It ends a party's contractual obligation. In contracts, all involved parties have certain responsibilities. The CS gives one party the ability to walk away from their promise to perform a duty.
A CS is a kind of insurance for one or more parties. It makes sure that one of the groups in the contract can leave when certain conditions are met.
Think of a contract as a series of promises. Everyone who sings the agreement must keep their promises. Sometimes, a situation changes and leaves a party in a bad situation. The CS covers that group, protecting t
- 4 min read
What Is the Key Man Clause?
A key man clause (or key person clause) says that when certain executives of an investment firm are absent, the firm cannot make any new investments until they replace them. Investments need constant watching. Therefore, it's important for investment firms to always have someone in charge.
Key man clauses trigger anytime the executives named by the clause aren't spending enough time managing the firm's investments. This can happen if the executive:
- Suffers a permanent or long-term disability
- Spends too much time at another job
- Quits or is fired
- Is convicted of a serious crime
Whatever the cause happens to be, if the executive can't do his or her job, the key man clause puts investing on hold at the very least. Sometimes it means the investment firm has to end, depending on how big the firm is and how important the key person was. When
- 6 min read
What Is Preferred Return?
A preferred return—simply called pref—describes the claim on profits given to preferred investors in a project. The preferred investors will be the first to receive returns up to a certain percentage, generally 8 to 10 percent. Once you reach this profit percentage, the excess profits are split among the rest of the investors as agreed upon in negotiations. This type of return is most commonly used in real estate investment.
How Is the Preferred Return Calculated?
There are three main questions when it comes to calculating preferred return:
- Is it compounded or non-compounded? Compounded means that the calculation of a preferred return periodic growth amount comes from the amount of invested capital plus all previously earned but unpaid amounts.
- Is it cumulative or non-cumulative? Cumulative means that all the m
- 13 min read
What Is Trademark Licensing?
Trademark licensing is the process by which a registered trademark owner, called a licensor or proprietor, allows another party, called a licensee, to make and distribute specific products or services under the licensor's trademark agreement. Trademark licensing is a type of merchandise agreement.
The licensor receives a certain amount of money or royalties, a percentage of all sales, in exchange for sharing the trademark. This compensation is also called consideration. Fashion and consumer products concerned with sports and entertainment are often sold under a trademark licensing agreement.
The licensee usually creates a trademark licensing agreement, but a licensor can also create this document. Both parties usually agree upon the terms before creating a trademark licensing agreement.
To be eligible for legal enforcement, a trademark license