Monthly Archives: April 2013

Real Estate Investment in St. Louis, Missouri

I recently came across an article on China’s real estate market and real estate investment in China, which I thought was fascinating. A link to the video can be found here: http://www.cbsnews.com/video/watch/?id=50142079n

In my legal practice, we represent many real estate investors and real estate businesses in the St. Louis area.  Anyone involved in the real estate industry is keenly aware of the extent of “contracts” “agreements” and other documents that are part of any real estate transaction.  The detail and complexity of some real estate transactions can be daunting.  We work hard to provide clarity, protection and peace of mind to our clients.

We work with both commercial and residential real estate and assist real estate sellers and buyers navigate the potentially dangerous paths of real estate transaction from financing and loan issues, to title problems, easements and closing.  With a hopefully-improving economy (unlike that described in China), more and more investors are engaging in real estate transaction and we are anxious to assist in this process.

 

Keywords: Real Estate Law, Contracts, Agreements, Commercial Real Estate, Residential Real Estate, Title Problems, Easements, Closing, Schleiffarth Law Firm, Jim Schleiffarth, Lawyer, Attorney, St Louis, Webster, Missouri

How Do I Add a Partner to My Business in Missouri?

In our firm’s representation of small and mid-sized businesses in St. Louis, we often handle matters involving adding additional business partners.  While the decision to add a partner to an existing business is a big issue to begin with, the process for finalizing and documenting the new ownership structure is perhaps an even bigger issue.  The importance of reaching a detailed agreement and preparing related documents cannot be overstated.

I recently worked with a successfully existing Missouri business that was expanding from two owners to three.  The existing LLC members were seeking to add a mutual colleague as a third owner or partner in the business in order to utilize his unique business expertise.  We became involved once the decision to add the new partner was made.

In working with these business owners, our top priority was to only document the transfer in ownership, but to also provide a detailed agreement that matched the expectations of the owners.  The primary change we made was drafting an amendment to the LLC operating agreement which provided some much-needed additional language regarding ownership interests and other matters relating to the business. In finalizing this transaction we also prepared necessary LLC company resolutions and a detailed assignment agreement that transferred partial ownership in the business to the new partners.

Our law firm is based in St. Louis and represents businesses primarily in Missouri.  We practice in the areas of business law, real estate law and estate planning.

 

Keywords: Business Law, LLC, Business Partners, Agreements, Operating Agreement, Amendment, Schleiffarth Law Firm, Jim Schleiffarth, Lawyer, Attorney, St Louis, Webster, Missouri

St. Louis Commercial Leases: What is Important?

In a review of two recent articles provided by Inc. Magazine, I was reminded of how daunting leases and especially commercial leases can be for a businesses.  At Schleiffarth Law Firm, we work with many St. Louis businesses in negotiating commercial leases and protecting their interests.

A business leasing commercial property must be careful in agreeing to and signing a lease in Missouri.  Beyond the dollars and cents of the agreement and the location and layout of the premises, a business leasing real estate (a “lessee” or “tenant”) must consider how to protect itself before, during and after the term of the lease.  Leasing and contract preparation requires expertise—from the lessee, from outside consultants and preferably from an experienced St. Louis real estate attorney.  

In counseling and representing our business clients in a leasing situation, I am quick to identify five provisions that we must be sure not to overlook: (i) use Limitations, exclusive Use provisions and maintenance obligations, (ii) options to extend the term of the lease, (iii) non-rent financial obligations, (iv) assignment and subletting and (v) sale of the property during the lease term.  There are many important components to any commercial lease, but these five critical provisions are too often overlooked and could create dire consequences.

Lawyers who primarily practice in other areas of the law too often miss the nuances and details of real estate lease agreement and non-attorneys often lack to the understanding of sometimes complex legal provisions.  Even the referenced Inc. Magazine article, intended to provide some useful guidance to a business owner, really fails to address the important underlying issues in any commercial lease. 

We are a St. Louis based law firm that works with clients in matters primarily in Missouri and Illinois.  We take our client relationships seriously and are anxious to help business owners succeed.

Here is a link to the Inc. Magazine articles referenced above:

http://www.inc.com/articles/2000/05/19694.html

http://www.inc.com/articles/1999/10/14495.html

 

Keywords: Business Law, Commercial Leases, Contracts, Agreements, Commercial Real Estate Leases, Schleiffarth Law Firm, Jim Schleiffarth, Lawyer, Attorney, St Louis, Webster, Missouri