Walnut Ridge Commercial Real Estate Lawyers

Walnut Ridge Commercial Real Estate Lawyers, AR

Find the Right Lawyer Now

Commercial Real Estate Law in Arkansas

In Walnut Ridge, Arkansas, "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 Walnut Ridge, Arkansas apply differently when dealing with commercial, as opposed to residential, real estate.

When renting or buying residential real estate, renters and buyers have considerable 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 Walnut Ridge, Arkansas

Financing: The majority of small businesses in Walnut Ridge, Arkansas can't afford to make large real estate purchases with the money they have in the bank. Nonetheless, buying real estate is sometimes necessary 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.

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 outcomes. 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: While buyers of real estate have some considerable protections with respect to defects, they also have some obligations. Before finalizing a purchase, buyers are expected to undertake a reasonable inspection of the property, usually by using a licensed building inspector. If the buyer fails to conduct an inspection, they normally won't be able to successfully sue, if defects are discovered after the purchase.

Encumbrances: Encumbrances are defects of a different type: rather than physical defects, they are defects of title. In Walnut Ridge, Arkansas, 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 particular 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 Walnut Ridge Lawyer that Specializes in Your Area of Need:

Can a Walnut Ridge, Arkansas Attorney Help?

Because of the complexity and importance of many of the issues regarding commercial real estate, it is almost always imperative to consult with a Walnut Ridge, Arkansas attorney before buying or selling commercial real estate.

2 Real Estate, Housing & Property Law cases posted to LegalMatch lawyers in Walnut Ridge

Commercial Real Estate Attorneys in the Largest AR Cities

Show Arkansas Cities

Commercial Real Estate Lawyers in Other Arkansas 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:

Walnut Ridge commercial real estate lawyer, Walnut Ridge commercial real estate attorney, Walnut Ridge commercial real estate lawyers, Walnut Ridge commercial real estate attorneys, commercial real estate attorney in Walnut Ridge