Lakewood Commercial Real Estate Lawyers

Find the right Commercial Real Estate attorney in Lakewood, WA

Commercial Real Estate Law in Washington

In Lakewood, Washington, commercial real estate is any parcel of land, or any building, which is used for business purposes, as opposed to residential, agricultural, or industrial use.

The laws in Lakewood, Washington which regulate commercial real estate differ considerably from the laws governing the rental and purchase of residential real estate.

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

For example, commercial real estate typically isn't covered by rent control laws, nor does it carry with it an implied warranty of habitability (because people usually won't be living in it). Furthermore, it also doesn't come with a covenant of quiet enjoyment. However, some of the most basic legal protections (such as laws against fraud, and concealment of defects) apply in both the commercial and residential context.

Common Commercial Real Estate Law Issues in Lakewood, Washington

Financing: The majority of small businesses in Lakewood, Washington can't afford to make large real estate purchases with the money they have in the bank. Still, buying real estate is sometimes imperative for a business' survival. This problem is sometimes remedied by taking out a mortgage; a loan used to buy property, with that same property being used to secure the loan.

Concealment of Defects: if the seller or lessor of commercial real estate actively conceals a material defect in the real estate, they can be responsible to the buyer or renter for any damages caused by this concealment.

Duty to Inspect: Lest you believe that the duty to disclose defects relieves any duty of diligence on the part of the buyer, the law will not reward such lapses with a major cause of action. Buyers have a duty to conduct a reasonable inspection of the property before they buy it, typicallyy with a licensed building inspector. If the buyer fails to do this, they won't be able to recover any damages for defects which they could have discovered through a reasonable inspection.

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 typical encumbrance is an easement. In Lakewood, Washington, an easement is some right of some third party to make limited use of land owned by someone else. For example, 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.

Can a Lakewood, Washington Attorney Help?

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

Talk to a Real Estate Law Attorney now!

Life in Lakewood

Lakewood is a city in Pierce County, Washington. It is home to approximately 59,000 people. Popular media publications include The Suburban Times, The News Tribune, Lakewood Press and Lakewood Journal.

Popular sites in Lakewood are Fort Steilacoom, Lakewold Gardens, Lakewood Towne Center, Lakewood Playhouse, and Thornewood.

The top employers include Fort Lewis and McChord Air Force Base.

Some Lakewood residents include attorneys who have either stopped practicing or currently practice. Residents turn to these attorneys for their legal needs. If these attorneys cannot handle the cases, then they refer residents to attorneys in nearby locations. Such a system ensures that the legal needs of Lakewood residents will be taken care of.

All in all, Lakewood is a charming place to visit and a must-see when in Washington!

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