The legal industry has continued to grow and become more complex over the years, as our society has continued to evolve. Two areas of law that have gotten considerably larger are real estate law and business law, and anyone who has worked in the professions will likely not be surprised at their evolution. In order to get a better understanding of how real estate law and business law differ, let’s take a look at each of them in more detail.
Real Estate Law
In its most basic terms, real estate law refers to real estate properties and how they are used. Properties can be used for both residential and commercial use but must go through a legal process to be approved. Real estate law ensures that properties are not only being used for the original intentions but are properly owned and managed as well.
Because commercial real estate properties are often used for business purposes, it is necessary to perform regular safety and maintenance inspections. This ensures the safety of the visitors to the property while also reducing the risk for the owners. Real estate law offers services for both residential and commercial real estate, as there are many legal requirements when purchasing or selling a property. Their services are meant to protect those involved in real estate from unexpected issues.
Business law focuses more on legal matters within the business sector. In addition to helping new companies come to fruition, business law focuses on handling any legal matters as the company grows. A business will likely have ongoing interactions with both other businesses and individuals of the community, so it is important to understand business law. This can help reduce the risk of something significantly impacting one’s business. Business lawyers are qualified to help businesses with complex transactions, assembling a legal counsel, nonprofit law, commercial litigation, and more.
While real estate law and business law do have similarities, their main focuses and roles will vary. As a business owner or real estate investor, it is important to understand how real estate law and business law differ from each other.