Appleton Commercial Real Estate Lawyers

Find the right Commercial Real Estate attorney in Appleton, WI

Commercial Real Estate Law in Wisconsin

In Appleton, 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 Appleton, Wisconsin which control commercial real estate differ substantially from the laws governing the rental and purchase of residential real estate.

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

For instance, residential real estate is governed 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 typically 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 Appleton, Wisconsin

Financing: Many businesses in Appleton, Wisconsin can't save up enough money to pay the full asking price of a decent-sized piece of real estate up front. Nonetheless, it's sometimes necessary for businesses to acquire real estate. To solve this issue, most rely on a mortgage. A mortgage is a typical type of loan, taken out to purchase real estate. The lending institution lends the full purchase price to the borrower, who then purchases the property. The property, in turn, becomes collateral for the loan, which must be paid back over a period of years, with interest.

Concealment of Defects: Sellers and lessors of commercial real estate are under a duty to disclose any defects in the property which might impact the buyer's decision to purchase it, such as water damage, mold, or other structural problems. These defects are quite typical, and the buyer has a right to know about them. If the seller doesn't disclose these defects, where they exist, the buyer can sue for any harm this causes.

Duty to Inspect: Buyers of commercial real estate are expected to be diligent, and a court will not reward a lack of diligence. Thus, if the buyer fails to conduct a thorough inspection of the property before buying it, and thereby fails to discover defects which such an inspection could have easily revealed, he will not be able to sue the seller over these defects later on.

Encumbrances: Encumbrances are defects of a different type: rather than physical defects, they are defects of title. In Appleton, Wisconsin, 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.

Can a Appleton, Wisconsin 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 an Appleton, Wisconsin attorney before buying or selling commercial real estate.

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Life in Appleton

Appleton is located in both Calumet and Winnebago Counties of Wisconsin. Surrounding waters include the Fox River and Green Bay. Per the 2010 census, it has a population of 78.086 people.

Some popular attractions include the Appleton Art Center, the Gardens of the Fox Cities, Goodland Field, The History Museum at the Castle, John Hart Whorton House, Temple Zion, Time Warner Cable Field at Fox Cities Stadium and the Fox Cities Performing Arts Center.

Top employers include the school district, Miller Electric, St. Elizabeth Hospital, Outagamie County, West Business Services, Valley Packaging Industries and Voith.

Although the legal industry is not included in the top employers list, Appleton is home to many small law offices that provide legal services in practically all areas of practice. Thus, residents do not have to travel far to have their legal needs tended to.

Famous residents include Myrt Basing, Rocky Bleier, Brian Butch, Willem Dafoe, J.P. Hayes, Erik Jensen, Ron Kostelnik, and Terry Zwigoff.

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