Real Estate Industrial Law and Legal Definition
Relevant legal forms include:
There is a myriad of federal, state, county and local laws which govern sales of real property to be used for industrial purposes. Enforcement of these laws typically resides with various governmental agencies which are responsible for keeping you in compliance with these laws. Some of the common areas regulated by government are:
Zoning - restriction on the use of the property as to residential, industrial, agricultural, or commercial purposes are very common. The size and height of improvements attached to the property are likewise subject to restriction.
Environmental hazards - what materials can be stored on the real property as well as who is responsible for removing environmental hazards from real property (such as asbestos, lead paint, petro-chemicals, radon and toxic wastes) are government regulated.
Taxation- special tax abatements and rates may apply to real property used for industrial purposes.