Fairbanks Commercial Real Estate Lawyers

Fairbanks Commercial Real Estate Lawyers, AK

Find the Right Lawyer Now

Commercial Real Estate Law in Alaska

In Fairbanks, Alaska, "commercial real estate" is any form of land or building which is utilized for a business, as opposed to residential, purpose.

The laws regulating real estate in Fairbanks, Alaska apply differently when dealing with commercial, as opposed to residential, real estate.

People who buy and rent residential unites have a greater deal of legal protections not available to buyers of commercial property.

These include implied warranties of habitability, rent control, and covenants of use and quiet enjoyment, among numerous others. Of course, the most general protections, such as prohibiting the seller from actively concealing defects, apply to both.

Common Commercial Real Estate Law Issues in Fairbanks, Alaska

Financing: Many businesses in Fairbanks, Alaska can't save up enough money to pay the full asking price of a decent-sized piece of real estate up front. Nonetheless, it's sometimes necessary for businesses to acquire real estate. To solve this issue, most rely on a mortgage. A mortgage is a typical type of loan, taken out to purchase real estate. The lending institution lends the full purchase price to the borrower, who then purchases the property. The property, in turn, becomes collateral for the loan, which must be paid back over a period of years, with interest.

Concealment of Defects: if the seller of commercial property acts to conceal a significant defect in the property, and then sells the property, he will be liable for any harm this defect cause, as well as the reduced value of the property, or the cost of repair.

Duty to Inspect: Buyers of commercial real estate are expected to be diligent, and a court will not reward a lack of diligence. Therefore, if the buyer fails to conduct a thorough inspection of the property before buying it, and thereby fails to discover defects which such an inspection could have easily revealed, he will not be able to sue the seller over these defects later on.

Encumbrances: An encumbrance is any interest held in a piece of property by a party other than the seller and the buyer. These property interests might make it very difficult for the buyer to use the land as they intended when they bought it. A common type of encumbrance in Fairbanks, Alaska is the easement. An easement is some right that a third party has in a piece of property. For example, suppose that, many years ago, a neighbor adjacent to the land you want to buy, paid a previous owner for the right to cross his land to reach a public road. Unless the agreement states otherwise, this right will usually apply to subsequent owners, and has to be honored. Therefore, it might interfere with the intended use of the new owner.

Find a Fairbanks Lawyer that Specializes in Your Area of Need:

Can a Fairbanks, Alaska Attorney Help?

Because of the complexity and importance of many of the issues regarding commercial real estate, it is almost always crucial to consult with a Fairbanks, Alaska attorney before buying or selling commercial real estate.

49 Real Estate, Housing & Property Law cases posted to LegalMatch lawyers in Fairbanks

Commercial Real Estate Attorneys in the Largest AK Cities

Show Alaska Cities

Commercial Real Estate Lawyers in Other Alaska Cities and Towns


Find the Right Lawyer Now

Top Rated Lawyers

View attorney profiles and see how other LegalMatch users rate attorneys that may respond to your case.

Real Estate, Housing & Property Law Lawyer
LegalMatch Real Estate, Housing & Property Law Lawyer Janis T.

Janis T.

SAN DIEGO, CA

Real Estate, Housing & Property Law

Rating (9 users) ***
See Reviews
Criminal Law Lawyer
LegalMatch Criminal Law Lawyer John G.

John G.

MORRIS, NJ

Criminal Law

Rating (4 users) *****
See Reviews
Family Law Lawyer
LegalMatch Family Law Lawyer Nefertiti J.

Nefertiti J.

PHILADELPHIA, PA

Family Law

Rating (2 users) *****
See Reviews
Criminal Law Lawyer
LegalMatch Criminal Law Lawyer Daniel K.

Daniel K.

BELKNAP, NH

Criminal Law

Rating (6 users) *****
See Reviews

Need a Real Estate Lawyer?

No obligation - Lawyers compete for your case. Choose your issue & get started now:

Fairbanks commercial real estate lawyer, Fairbanks commercial real estate attorney, Fairbanks commercial real estate lawyers, Fairbanks commercial real estate attorneys, commercial real estate attorney in Fairbanks