Ketchikan Commercial Real Estate Lawyers

Ketchikan Commercial Real Estate Lawyers, AK

Find the Right Lawyer Now

Commercial Real Estate Law in Alaska

In Ketchikan, Alaska, "commercial real estate" is any type of land or building which is used for a business, as opposed to residential, purpose.

The laws governing real estate in Ketchikan, 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 many others. Of course, the most basic protections, such as prohibiting the seller from actively concealing defects, apply to both.

Common Commercial Real Estate Law Issues in Ketchikan, Alaska

Financing: Many businesses in Ketchikan, 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 problem, most rely on a mortgage. A mortgage is a common 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.

Duty to Disclose Defects: It is of the utmost importance that sellers and lessors of commercial real estate be up front about any defects that might be present in the property. Failing to disclose them can be bad, and actively concealing them can be much worse. In general, if a defect is serious enough that it would influence a reasonable person's decision to buy a piece of property, and the seller knows about it, the seller should disclose it. Failure to disclose can have serious consequences. If the buyer later discovers the defect, they can sue for the cost of repairing it, or for any reduction in the property's value caused by it. And, of course, if it causes any injuries, the buyer can sue the seller for those, as well.

Duty to Inspect: This is a companion to the duty to disclose defects. Generally, buyers of real estate are expected to inspect the property. If they fail to conduct a good inspection, they might not be able to recover damages if they are harmed by any defects which an inspection would have revealed.

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 Ketchikan, 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 Ketchikan Lawyer that Specializes in Your Area of Need:

Can a Ketchikan, Alaska Attorney Help?

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

9 Real Estate, Housing & Property Law cases posted to LegalMatch lawyers in Ketchikan

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.

Family Law Lawyer
LegalMatch Family Law Lawyer Jeffrey K.

Jeffrey K.

BALTIMORE, MD

Family Law

Rating (3 users) ****
See Reviews
Real Estate, Housing & Property Law Lawyer
LegalMatch Real Estate, Housing & Property Law Lawyer Scott H.

Scott H.

SNOHOMISH, WA

Real Estate, Housing & Property Law

Rating (1 users) *****
See Reviews
Criminal Law Lawyer
LegalMatch Criminal Law Lawyer William U.

William U.

BREVARD, FL

Criminal Law

Rating (1 users) *****
See Reviews
Family Law Lawyer
LegalMatch Family Law Lawyer Bruce W.

Bruce W.

BROWARD, FL

Family Law

Rating (8 users) ***
See Reviews

Need a Real Estate Lawyer?

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

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