Commercial real estate lawyers find themselves busier than ever following any number of natural disasters. Although even the latest construction techniques can be challenged by hurricanes, tornadoes, and floods, the industry continues to develop materials and strategies. When these materials and strategies pale in comparison to the latest storm, however, there are often lawsuits that require the assistance of commercial real estate lawyers. Because commercial buildings are often constructed at a much higher level, of course, there can be the perception that they will never fail. When the ultimately do, however, commercial real estate lawyers help sort out the results. From claims to settlements, lawyers for construction companies find themselves especially busy after a major weather event.
In addition to claims on buildings that have been destroyed, construction law firms are also involved in the redevelopment and rebuilding process. Knowing when to hire a commercial real estate attorney, in fact, is a decision that many builders, developers, and investors have to make on a regular basis. In general, it is often the right decision to consult legal advisers sooner rather than later.
Is Your Company Trying to Help Clients Rebuild After a Major Hurricane or Other Weather Event?
Whether you are a small commercial real estate owner trying to recover after a fire or you are part of a large commercial real estate group that is attempting to start a new shopping area, there are often many questions that require the assistance of a legal advisor. Consider some of these facts and figures about the many times when seeking legal advice might be in your best interest:
- ISO’s Builders Risk Coverage Form, CP 00 20, is the basic avenue to builders risk coverage in the commercial property program simplified language.
- A whole new area of law is developing around the use of 3-D printers today as onstruction companies have started to print concrete materials.
- Drones will help engineers and architects tackle various construction tasks more accurately, according to Colin Guinn of 3-D Robotics. They will also, however, require new legal precedents to help regulate.
- Partly because of technological advancements, the construction industry eliminated more than 40% of its work force between April of 2006 and January of 2011. Many of these eliminations required the help of labor negotiations and other legal resources.
- Although laws can vary from one state to another, Texas law requires that a breach of contract claim must be filed within four years, unless the contract otherwise specifies two years.
- The U.S. construction market was worth approximately $1,162 billion in 2016.
When most of us think about hurricanes, floods, tornadoes, and fires, we often think about the individual home owner who is suffering. The fact of the matter is, however, there are also many commercial builders and owners who are in need of legal advice as they determine their first steps toward recovery and rebuilding.