Caveat emptor


Commercial Lease Form

Texas Association of Realtors standard commercial lease

 

Caveat emptor is Latin for “Let the buyer beware”. Generally Caveat emptor was the property law doctrine that controlled the sale of real property after the date of closing. In many states, including Texas commercial leases are not covered under consumer protection laws that normally safeguard tenant rights. It is assumed that commercial leases are contracts between knowledgeable business people, and therefore less government regulation is needed than in residential leases. Landlord/Tenant law under the Property Code focuses almost exclusively on extending rights and remedies to residential lessors and lessees.

Commercial tenants are basically allowed to contract for anything legal, and are not bound by a majority of the terms set forth in the property code relating to landlord/tenant  issues.

Thus it is essential to scrutinize every aspect of the lease and renegotiate unfavorable terms before signing.