Commercial Real Estate Law in West Virginia

In Kanawha County, West Virginia, 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 governing real estate in Kanawha County, West Virginia apply differently when dealing with commercial, as opposed to residential, real estate.

Many of the protections that buyers and renters of residential real estate enjoy rarely apply to renters of commercial real estate.

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 Kanawha County, West Virginia

Financing: Most small business owners in Kanawha County, West Virginia don't have the money to buy real estate with the cash on hand. However, there is a solution to this problem, allowing people without massive sums of money (but with a steady income) to buy real estate: the mortgage. A mortgage is a loan used to buy real estate, and the real estate being purchased is used as collateral for the loan.

Disclosure of Defects: Sellers of real estate have an obligation to inform prospective buyers of any defects present in the property, such as water damage and other structural problems. Basically, 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 considerable 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: 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 Kanawha County, West Virginia, 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 example, 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 Kanawha County, West Virginia Attorney Help?

These issues are sometimes difficult, and almost always very important. Therefore, it's necessary to seek the assistance of a Kanawha County, West Virginia real estate attorney if you have any dealings in this area.