Palmer Commercial Real Estate Lawyers

Palmer Commercial Real Estate Lawyers, AK

Find the Right Lawyer Now

Commercial Real Estate Law in Alaska

In Palmer, 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 Palmer, 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 Palmer, Alaska

Financing: Some small businesses in Palmer, Alaska find it necessary, at some point, to purchase a piece of real estate, for various reasons. Nonetheless, most owners of small to medium-sized businesses can't afford to make a real estate purchase up front, with the cash they have on hand. Simply put, very few individuals have hundreds of thousands of dollars just sitting in the bank. One solution to this is a mortgage, which is similar to most other forms of secured loans: a bank lends you money, and you put up some piece of property as collateral, so the bank has some security in the event of default. With a mortgage, however, the property being purchased with the loan also secures the loan, allowing the bank to foreclose on it in case the buyer defaults.

Disclosure of Defects: Sellers of real estate have an requirement to inform prospective buyers of any defects present in the property, such as water damage and other structural problems. Essentially, if the defect is significant enough that it might affect a reasonable buyer's decision on whether or not to purchase the property, and the seller knows about it, it must be disclosed. Failure to disclose such defects would give a buyer the right to sue the seller, and recover significant damages, including the cost of repairing the defect, compensation for any injuries or illness caused by it, and the reduction in the property's value caused by the defect.

Buyer's Duty to Inspect: generally, buyers of commercial real estate are expected to inspect the property before buying it. A failure to do so might prevent the buyer from prevailing in a lawsuit if he is harmed by physical defects that an inspection would have revealed, and that the seller didn't know about.

Encumbrances: Encumbrances are defects of a different type: rather than physical defects, they are defects of title. In Palmer, Alaska, an encumbrance is an interest in a piece of real estate held by a third party, such as covenants or easements. An easement is a right held by someone to use the property of someone else for a certain purpose. For instance, a person might have an easement on the land of another person, allowing them to cross the land to access a public road.

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

Can a Palmer, Alaska Attorney Help?

Because of the importance and potential complexity of the issues surrounding commercial real estate, it's almost always recommended that, before engaging in any real estate deal, you seek the counsel of a good Palmer, Alaska real estate attorney.

23 Real Estate, Housing & Property Law cases posted to LegalMatch lawyers in Palmer

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.

Employment and Labor Law Lawyer
LegalMatch Employment and Labor Law Lawyer Stephen K.

Stephen K.

DEKALB, GA

Employment and Labor Law

Rating (1 users) *****
See Reviews
Family Law Lawyer
LegalMatch Family Law Lawyer Mikal C.

Mikal C.

WAYNE, MI

Family Law

Rating (5 users) ***
See Reviews
Family Law Lawyer
LegalMatch Family Law Lawyer Darcele H.

Darcele H.

Harris County - North, TX

Family Law

Rating (1 users) *****
See Reviews
Family Law Lawyer
LegalMatch Family Law Lawyer Edwin L.

Edwin L.

TIPTON, TN

Family Law

Rating (7 users) ****
See Reviews

Need a Real Estate Lawyer?

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

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