{"id":8184,"date":"2020-11-20T08:47:00","date_gmt":"2020-11-20T08:47:00","guid":{"rendered":"https:\/\/diamondlaw.ca\/?p=8184"},"modified":"2022-01-04T17:11:46","modified_gmt":"2022-01-04T17:11:46","slug":"5-essential-things-you-should-know-about-commercial-real-estate-law","status":"publish","type":"post","link":"https:\/\/diamondlaw.ca\/5-essential-things-you-should-know-about-commercial-real-estate-law\/","title":{"rendered":"5 Essential Things You Should Know About Commercial Real Estate Law"},"content":{"rendered":"

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The subject of commercial real estate is an interesting one. We are surrounded by commercial buildings, such as warehouses and offices, which are bought and sold every day. These buildings and the transactions are vital to society. Without them, it would be impossible for people to do business, provide services and sell us the products that we need.<\/span><\/p>\n

That is part of the reason there are so many specialist laws surrounding buying, selling, leasing, and the use of commercial buildings. If these rules and regulations did not exist the sector would be chaotic, which could lead to businesses not being able to find the premises they need to trade. Something that could be disastrous for the financial health of a district or area. It could also have a knock-on impact on people’s daily lives.<\/span><\/p>\n

A significant percentage of the real estate deals<\/a> we provide legal advice for are related to transactions involving commercial properties. So, it is a sector we are deeply interested in and know a lot about. If you want to know more, need to buy, or sell this kind of property, please get in touch. We are here to provide you with a<\/span> <\/span>free initial consultation<\/span><\/a> and advise you about all aspects of commercial real estate law. You can also get an overview of the subject, below.<\/span><\/p>\n

What is Commercial Real Estate?<\/span><\/h2>\n

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First, let’s define what we mean by commercial real estate. Which properties fall into this category and which do not?<\/span><\/p>\n

Simply put, commercial real estate (CRE) is any property that is used exclusively for business-related purposes. As a workspace of some sort. Be it for manufacturing, storage, selling or carrying out other activities that are related to running a business.<\/span><\/p>\n

Properties that include living accommodation do not fall into this category, in Canada. However, there is an exception to this. Hotels and other forms of temporary accommodation that provide living space for tourists, visitors, contractors, do usually meet the criteria set for CRE properties.<\/span><\/p>\n

There are four main categories of commercial real estate, here in Canada. They are:<\/span><\/p>\n