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Commercial Property

Commercial property refers to either land or buildings for profit-generation purposes from rental income or capital gains. Commercial properties include among others office buildings, retail stores, hotels, shopping centers, industrial properties and warehouses.

497 Questions

Difference between off premise and in premise?

Off premise means away from the business building or establishment. In premise means inside the business building or establishment. Premise is the building that houses a business or organization.

What does it mean if a seller owns a freehold interest in a property and an under leasehold interest?

freehold n. any interest in real property which is a life estate or of uncertain or undetermined duration (having no stated end), as distinguished from a leasehold which may have declining value toward the end of a long-term lease (such as the 99-year variety).

What is the percentage of poverty in Colorado?

As of the most recent data, the poverty rate in Colorado is approximately 9.6%. This figure can vary slightly based on the source and the specific year of the data. It's important to consult the latest reports from the U.S. Census Bureau or state agencies for the most current statistics.

What can we do about a zoning exception being sought by a church that bought property to build a church in our neighborhood zoned single family residential?

If you are against the change, write a letter to the zoning board why you don't feel the exception should be granted. And the more people in the neighborhood that feels that way, the more the zoning board is likely to listen. You can also attend the meeting and voice your opinion to the board in person.

What does a contract cover if it states latent defects?

Well, a latent defect would be any defect not previously detected or immediately visible, so the contract would cover that. Normally that means that the warranty covers defects that are not noticed until later, but could have been present at the time of sale.

How to spell premises?

The correct spelling is premises.

One example sentence for you is: We will have to close the premises.

Another example sentence is: You have been asked to leave our premises twice now.

Are the twin towers still in new york?

The Twin Towers, or the World Trade Center, were destroyed on September 11, 2001 in a terrorist attack. They are not still standing today, however there is a memorial in their place.

What is the procedure for change in zoning from residential to commercial?

You would generally submit an application for a building permit to make a change from residential to commercial, if there were any changes required for that type of commercial occupancy.

Otherwise, you would simply apply for a permit for change of use and obtain the necessary inspection and certificate of occupancy for the commercial use.

Depending upon the location and local rules, you may be prohibited from changing residential to commercial of various types, absent a "waiver", known as a variance, after a public hearing and assuming the local rules allow it under the circumstances. Just because you own some property does not necessarily mean you can use it for whatever you want. Zoning laws carry out the police power to regulate land use for the health, safety, morals and general welfare of all.

How do you find out whether land is registered or not?

Hi you will need a plan (OS is fine) with the land coloured. Then you send it off wth a small fee and application know as an Index Map search to your local land registry.

They will let you know if its registered or not.

If its agricultural or land that has not been sold or bought or otherwise dealt with since 1990 it is unlikely to be registered as that's when complulsory registration came in.

What does Passive Freehold mean?

==One Answer== "Freehold" is the term used for the private ownership of land in Australia. Most land in Australia is owned by the government with only about 15% being privately owned. The remaining small portion is aboriginal land, approximately 13%. The government owned land is occupied by people or corporations that hold leasehold interests on huge tracts that may include thousands or millions of acres. "Passive freehold" would describe an arrangement such as the purchase in fee of a privately owned commercial property (such as a hotel) that is already built, already in an active, ongoing business and under management that will remain in place after your purchase of the property. You would be the owner but would not take any active role in the day to day management of the property or activities of the business. You would take on a passive role as the owner of the property, i.e., passive freehold.

How much does it cost to build a mall?

Why type of mall is being considered? What is the local building code like and what sort of work is required to improve the local roads or other infrastructure details?

The price varies depending on the size of the mall and the features you want. A high end mall full of designer shops will have a high specification and likely be in a more expensive compared to build a small strip mall where limited parking is needed. Other things that can cause the costs to vary are the number of washrooms, how many elevators if more than one floor, multi-story car parks, signaling upgrades for local intersections, tax assessments to fund the impact to the local community, cost of the property and so on.

Also remember the cost of maintenance should be factored in as well. Enclosed malls with central water features, snow removal and other seasonal issues that impact the design and construction requirements such as HVAC. Any required mass transit facilities to bring in shoppers and reduce the number of car journeys. Environmental and transport studies plus the general planning plus permit processes.

The list can go on and on and is very much based on the specific mall being considered.

You were never married but own a house with a friendare they intitled to half of the house they never paid anything towards it?

rent of an apartment in the house did pay for a portion of the mortage,25%.the other half owner nevr paid anything,and lived there 7 yrs,what legal rights do i have.

If both husband and wife are on the deed to the house but husband is the only one on the mortgage if something were to happen to the husband would the wife have to refinance?

Technically the wife and husband own the home while the husband is the only one who owes money to the lender. The property has been pledged to the lender to secure the loan. If the loan has a due on sale clause or other restrictions then there could be a situation where the lender will call the loan due. It is rare for a lender to make a loan to only 1 party who is on the deed. Normally what has happened is an individual took out a loan secured by a property when they were the sole owner. Later the other party, the spouse, was added to the property's title. Normally this is a technically violation of the Due On Sale (DOS) clause in the mortgage contract if you check the fine print. The transfer while valid has triggered a situation where the lender is free to call the loan due. In many cases a better solution that to put the wife on title when the husband already owns the property is to have the husband deed the property to a trust and then have the trust set up so the wife retains the ability to live in the property and to otherwise gain the same benefits as owning the property. The key with a trust is the DOS clause is not triggered when the trust is being used for estate planning. Providing for one's spouse after something happens is exactly what estate planning addresses. If the wife is on title and the husband is no longer alive, the wife may or may not be asked to pay off the loan. If that is the case she can refinance or use savings to pay off the loan. In many cases the lender will not take any action if the payments remain current. Insurance is one possible way to help the wife protect her interest if the husband was to die or otherwise not be able to work and she is on title. It may or may not be the right solution in any particular situation. Insurance can also be a good solution even if the property is in trust as it can provide a lump sum so the wife has fewer economic problems. Assuming the wife is being asked to pay off the loan and she lacks the means to either refinance or pay off the loan from savings then a sale of the property becomes the normal solution. Otherwise the lender can start a foreclosure action to force a sale at auction.