What kinds of businesses may need real estate contracts in Tennessee?

Nashville, TN – Real estate is an important aspect of some businesses and their dealings. However, there is a complex group of laws and regulations that govern real estate transactions, and parties to a contract that involves real estate should be aware of these issues before proceeding. Because certain businesses are more likely to have to deal with real estate than others, professionals working in these companies should pay special attention to their contracts. 

Investors and investment groups

Real property is one of the most common and profitable investments. This is because land and the property that occupies a certain area will likely increase in value much more quickly than other assets, and there is generally less risk of sudden loss and bankruptcy. If an investment firm wants to get the most out of their properties, they should make sure that they have real estate contracts drafted by experienced lawyers who know how to protect their interests and avoid a breach. 

Property owners

It is common for property owners to lease or sublease some or all of their property for rentals and other uses. All of these transactions need to be managed by a contract. It is also important that the owner knows whether the property will be used for commercial, industrial, or residential purposes, and place relevant conditions in the contract language. If the contracts are deficient, it may be difficult for the owner to collect money and rental fees for the use of their property, or even make an insurance claim, if there is ever a dispute or foreclosure. 

Agents with a right to sell

Real estate agents and firms will need an agreement with a home or property owner to have exclusive rights to sell their property. This is common in most real estate sales to avoid multiple agents competing to bring in clients and sell a property at the same time, as well as lost money from agents marketing their services to owners who will not utilize them throughout a deal. When an agent is starting their business, they should have these documents reviewed by an attorney for all of the correct provisions. 

Land contracts

This is a type of real estate contract that is sometimes used when the seller agrees to receive payments to purchase a piece of land gradually over time. This is essentially a type of installment contract as used in other types of sales and business. The seller can keep the title to the property until the contract is paid in full. 

Finding more information about business issues and law

George Fusner is an experienced business lawyer who helps clients in the Nashville area with various issues. Anyone who needs assistance can contact his office for specific advice that is relevant to their situation. 

Firm contact info:

The Law Office of George R. Fusner

7104 Peach Court, Brentwood TN 37027

615-251-0005

gfusnerlaw.com