What’s the Difference Between Residential Real Estate Law and Commercial Real Estate Law?
- By: Ramona Martinez-Salopek
- Comments: 0
In residential law, the properties are owned by a resident. In commercial law, the property is owned by a business.
Any commercial real estate that you sell is heavily dependent on a contract. You will want an attorney for commercial transactions because those are heavily dependent and governed by the contract language itself.
Residential law includes real estate contracts and residential leases. In New Mexico, most disputes arise from the landlord-tenant relationship. New Mexico statutory provisions related to the landlord-tenant relationship are well defined and provide remedies for both landlords and tenants and attempt to equally protect both parties.
Most tenants do not realize that these statutory provisions provide many rights so they are not wrongfully evicted, discriminated against because of race, religion, national origin or ancestry, sex, family status (with children), or because of a disability, and ensure the landlord generally upkeeps your place safe and livable.
A tenant must notify the landlord in writing if repairs are required and a tenant may use the landlord’s failure to repair the problem as grounds to cancel the lease.
Landlords on the other hand must follow the strict notice provisions laid out by statute to notify the tenant of any breach of the lease. Most common is failure to pay rent. Such notice provision are easy to follow, but must be adhered to.
If you are unsure how to resolve your legal matter, you should speak with one of our experienced landlord-tenant attorneys before you enter into any lease or agreement. Our Las Cruces landlord-tenant attorneys can help you sort out your legal matters.