Fort Payne Commercial Real Estate Lawyers

Fort Payne Commercial Real Estate Lawyers, AL

Find the Right Lawyer Now

Commercial Real Estate Law in Alabama

In Fort Payne, Alabama, "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 Fort Payne, Alabama 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.

For instance, residential real estate is covered by laws concerning rent control, living conditions, and other things relevant to buildings where people will be living. Most of these protections don't apply to commercial real estate, because the law assumes that the average business person is a bit more sophisticated in such dealings than the general population, and because a place to do business is generally less important than a place to live. However, the most basic protections, such as protection from fraud and deliberate concealment of defects, still apply.

Common Commercial Real Estate Law Issues in Fort Payne, Alabama

Financing: The majority of small business owners in Fort Payne, Alabama probably can't afford to buy much real estate outright, with cash paid up front, so most small business buy commercial real estate with a mortgage. A mortgage is a loan taken out for the purpose of buying real estate, using that real estate as collateral for the loan.

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.

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 some small ownership interest in land held by a third party, or some right held by a third party to restrict the use of a parcel of land. A common encumbrance is an easement. In Fort Payne, Alabama, an easement is some right of some third party to make limited use of land owned by someone else. For instance, cable companies often purchase easements from property owners (or they are imposed by the government) allowing them to string cable wiring from the telephone wires on the street to nearby houses. Like any other property right, the holder of an easement can prevent others from interfering with it. Obviously, if a buyer doesn't know about an encumbrance on a piece of land, he might find that he's unable to make the use of the land that he was expecting.

Find a Fort Payne Lawyer that Specializes in Your Area of Need:

Can a Fort Payne, Alabama Attorney Help?

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

10 Real Estate, Housing & Property Law cases posted to LegalMatch lawyers in Fort Payne

Commercial Real Estate Attorneys in the Largest AL Cities

Show Alabama Cities

Commercial Real Estate Lawyers in Other Alabama 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 Joseph R.

Joseph R.

MORRIS, NJ

Family Law

Rating (4 users) *****
See Reviews
Business - Transactional Lawyer
LegalMatch Business - Transactional Lawyer Max M.

Max M.

NELSON, VA

Business - Transactional

Rating (1 users) *****
See Reviews
Criminal Law Lawyer
LegalMatch Criminal Law Lawyer Cristian T.

Cristian T.

CUMBERLAND, NJ

Criminal Law

Rating (3 users) *****
See Reviews
Family Law Lawyer
LegalMatch Family Law Lawyer Matthew A.

Matthew A.

SAN AUGUSTINE, TX

Family Law

Rating (2 users) *****
See Reviews

Need a Real Estate Lawyer?

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

Fort Payne commercial real estate lawyer, Fort Payne commercial real estate attorney, Fort Payne commercial real estate lawyers, Fort Payne commercial real estate attorneys, commercial real estate attorney in Fort Payne