Developing real estate can be a lucrative business, but it is by no means easy. Real estate development is not as simple as picking a plot of land and building.
Developers have to carefully plan and strategize as well as act following the law. Here are some common legal issues that real estate developers encounter.
Zoning regulations
Zoning laws impact what an owner can and cannot do with a piece of property. This is something that developers have to consider carefully before committing to a project. For example, a geographical area may only permit new residential buildings. Thus, if the developer plans to build a commercial development, they could run into serious trouble.
Environmental laws
New York has stringent environmental laws. These laws are not in place for no reason- they are intended to protect the environment and well-being of New York residents and visitors.
Developers have to think about the types of building materials they use as well as the emissions that will result from the development. Failure to comply with environmental laws could halt a project and cause developers to face heavy fines.
Easements and title disputes
The title of a property or piece of land clarifies ownership rights and permitted use. Some pieces of land have easements attached to them. This means that while someone may own the land outright, others may be entitled to access and use it.
For example, a piece of land may contain a public park or walkway. The owner cannot simply shut this land off to the public if there is an easement attached. As a real estate developer, having sound legal guidance on your side can help ensure that your projects go as smoothly as possible.