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Commercial property, also called commercial real estate, investment property or income property, is real estate (buildings or land) intended to generate a profit, either from capital gains or rental income. [1] Commercial property includes office buildings, medical centers, hotels, malls, retail stores, multifamily housing buildings, farm land ...
The purpose of obtaining a certificate of occupancy is to prove that, according to the law, the house or building is in liveable condition. Generally, such a certificate is necessary to be able to occupy the structure for everyday use, as well as to be able to sign a contract to sell the space and close on a mortgage for the space.
A commercial leasing agreement is also called a commercial property, commercial real estate, business, industrial, and office space lease. [1] The individual in ownership of the property to be rented is called the lessor or landlord. [2] The lessee or tenant uses and rents the property owned by the lessor and provides them with monetary ...
If the zones which separate commercial, industrial, and residential area are clearly zoned for commercial use, the city will allow the sale to proceed for the stated use. If any part of the property extends into a residential or industrial zone, however, then the buyer must seek a 'variance', special permission to cross over a zone boundary.
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Alternatively, a developer who is also a builder may purchase a property with the plans and permits in place so that they do not have the risk of failing to obtain planning approval and can start construction on the development immediately. The financial risks of real estate development and real estate investing differ due to leverage effects. [3]
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Ye, the rapper formerly known as Kanye West, is being accused of sexual assault in a lawsuit that alleges he strangled a model on a music video set in 2010 and shoved his fingers in her mouth in ...
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