Tuesday, June 15, 2010

Should one have a lawyer when leasing land? Why, if we have a legal lease.?

We will be leasing land for a new business venture and will receive a handsome amount of money each month. This is commercial land and the banks aren't loaning money for commercial property so we opted to lease it out. We've been paying taxes on it for 50 years with no income from the 6 acres. With a legal lease signed by all parties why would we need a lawyer and have to pay those extra fees?

You need an attorney for this. How do you know you have a proper legal lease without professional review ? Are you certain all potential avenues have been covered properly in the lease ? Leasing land needs very special criteria to make it acceptable to a landlord. You've paid taxes for fifty years, and NOW you want to cheap out on an attorney ??? Use your head, my friend.

To protect yourself and your property, that is why. There are a host of things that can go wrong, and if you want to protect your nvestment, you need to have an attorney review the documents. Your "legal lease" may not be worth the paper it is printed on and having an attorney look at it is inexpensive insurance.

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