Real estate disputes are generally the last thing a commercial property owner wants to be involved in. As a commercial real estate owner or investor, litigation can be financially draining and time-consuming. Because of this, it is imperative for property owners to understand the legal options available to them when an issue arises.
Negotiation
Attempting to negotiate with the other party may be the best place to start. This will give you the opportunity to reach an agreement without having to endure the litigation process. As long as you are willing to find common ground, negotiating with the other party can allow you both to hear each other’s arguments and potentially find a solution that satisfies everyone. However, before and after each meeting or conversation, be sure to keep a record of what occurred.
Mediation
If you were unsuccessful at finding a resolution to your dispute through negotiation, mediation may be the next best option. Mediation is an alternative to litigation that gives both parties the ability to solve their disagreement while saving time, money and maintaining their privacy. During the mediation process, a third party will collaborate with you both to craft a solution that meets both of your needs.
Litigation
If you have exhausted all of the other legal options available to you, litigation is the final step to settling your dispute. The litigation process can be significantly more time-consuming than mediation and will undoubtedly be more contentious.
Settling a commercial real estate dispute is often challenging, but by working through the negotiation and mediation processes, property owners can generally find a resolution that is mutually beneficial. However, in the event that these alternative methods are not successful, having the knowledge and support of a Texas commercial real estate attorney can help you move through the litigation process with certainty.