Franklin Commercial Real Estate Lawyers

Find the right Commercial Real Estate attorney in Franklin, WI

Commercial Real Estate Law in Wisconsin

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

The laws in Franklin, Wisconsin which govern commercial real estate differ significantly from the laws governing the rental and purchase of residential real estate.

When renting or buying residential real estate, renters and buyers have significant legal protections which often don't apply to commercial real estate.

Several of the protections that don't apply to commercial property include warranties of habitability, rent control, and warranties of quiet enjoyment. There are others, as well. The most general protections, nonetheless, apply to buyers of both residential and commercial real estate, including remedies for fraud and concealment of physical or title defects.

Common Commercial Real Estate Law Issues in Franklin, Wisconsin

Financing: The majority of small business owners in Franklin, Wisconsin 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: Undisclosed encumbrances are defects of another sort: defects of title. An encumbrance is any interest that a third party has in the Franklin, Wisconsin commercial real estate. These usually take the form of easements, which are rights held by third parties to use the land for a specific purpose. Easements can have profound effects on how a new owner can use the land, so it is necessary to know about them before buying.

Can a Franklin, Wisconsin Attorney Help?

These issues can be very complicated, and most people consider such financially-weighty decisions to be very necessary. If you are one of those people, it's a smart move to contact a Franklin, Wisconsin real estate attorney if you are facing any of the issues discussed above.

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Life in Franklin

Franklin is a city in Milwaukee County, Wisconsin. It has a population of about 32,000 people. Franklin is frequently ranked among the top 100 places in the U.S. to live by Money Magazine. Franklin is also highly ranked by some specialty publications, in certain niche categories. For example, FDi Magazine (a publication for the Foreign Direct Investment industry) has also ranked Franklin quite highly in terms of human resources and infrastructure. Milwaukee County contains many prized natural features, many of which are located in Franklin, Wisconsin. Among them are unspoiled wetlands, old-growth forests, prairies, river habitats, and many others. Because of its natural beauty, it should be no surprise that Franklin has many parks and outdoor recreation areas. Paradoxically, Franklin is also home to a superfund site, thanks to a (now defunct) landfill company that illegally allowed the dumping of toxic waste on its land. If you are looking for an attorney, and live in Franklin, Wisconsin, chances are you'll be able to find one. Franklin, Wisconsin lawyers are well-educated, and highly skilled. If you have any legal problem whatsoever, you should consider retaining a Franklin, Wisconsin lawyer.

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