Wetumpka Commercial Real Estate Lawyers

Wetumpka Commercial Real Estate Lawyers, AL

Find the Right Lawyer Now

Commercial Real Estate Law in Alabama

In Wetumpka, 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 Wetumpka, Alabama apply differently when dealing with commercial, as opposed to 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 Wetumpka, Alabama

Financing: The majority of small business owners in Wetumpka, 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.

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 significant 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 significant 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: Undisclosed encumbrances are defects of another sort: defects of title. An encumbrance is any interest that a third party has in the Wetumpka, Alabama 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 critical to know about them before buying.

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

Can a Wetumpka, Alabama Attorney Help?

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

27 Real Estate, Housing & Property Law cases posted to LegalMatch lawyers in Wetumpka

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

Need a Real Estate Lawyer?

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

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