Due Diligence Summary Chart (Owned Commercial Property)

The Due Diligence Summary Chart (Owned Commercial Property) is a legal template specifically tailored for conducting a due diligence investigation on a commercial property under the jurisdiction of the United States. Due diligence refers to the comprehensive examination and evaluation of a property's legal, financial, and physical aspects before completing a transaction, such as a property acquisition or lease agreement.

This template assists legal professionals, real estate agents, or property investors in organizing and summarizing crucial information about a commercial property. It covers various key areas that are typically scrutinized during the due diligence process, allowing users to compile relevant facts, figures, and supporting documentation.

The summary chart comprises sections dedicated to multiple aspects of due diligence, including but not limited to:

1. Property Details: This section outlines essential information about the property, such as its legal description, address, zoning, and land use restrictions. It may also cover details regarding the property's boundaries, easements, encroachments, or any other title-related issues.

2. Ownership and Title: This section delves into the property's ownership history, listing previous and current owners, holding entities, and any associated recorded liens, mortgages, or encumbrances. It may also include information about pending or past lawsuits or legal disputes involving the property.

3. Environmental Considerations: This part focuses on environmental due diligence, assessing potential contamination risks, hazardous material usage or storage, compliance with environmental regulations, and any ongoing or completed environmental studies or assessments.

4. Leasing and Occupancy: If the property has existing tenants or leases, this section captures pertinent details about lease agreements, rental terms, and obligations. It may include information about rent rolls, lease expirations, concessions, tenant improvement obligations, and any legal disputes with tenants.

5. Financial Considerations: This section highlights financial aspects of the property, including historical and projected income statements, rent rolls, operating expenses, tax assessments, and potential sources of revenue or expenses from the property.

6. Additional Due Diligence Areas: This part covers other relevant aspects not included in the previous sections, which may vary depending on the nature of the property or specific due diligence requirements. Examples could include insurance coverage, building code compliance, utility services, or historical or cultural preservation restrictions.

By utilizing the Due Diligence Summary Chart (Owned Commercial Property) template, users can efficiently compile and organize the information necessary to make well-informed decisions about a commercial property transaction while ensuring compliance with U.S. legal regulations and best practices.