Indiana Real Property Law

Get help for your business from an Indiana property attorney
By Emmet McMahan Indiana real property law governs the ownership of land rather than personal property. The associated rights and obligations of real property have their origins in the common law of Medieval England. They can therefore be difficult to interpret under a modern legal system.

Some aspects of Indiana real estate laws will specifically affect business owners. Environmental laws determine how you dispose of the waste that your business creates and zoning laws regulate the type of business you can run on your property.

Keep the following points in mind when you speak with an Indiana property lawyer:

1. Property is not a tangible object in the strict legal sense. Rather, it is a collection of rights that are protected by Indiana property laws. These rights include not only ownership but the right of use.

2. A person that possesses land is entitled to protect his ownership against anyone who is unable to demonstrate a superior claim.

3. A consensual transaction such as a sale or a gift is the most common way of obtaining an interest in property. However, ownership may change without the property owner’s consent, as in the case of bankruptcy or some other court judgment.

Obtain insurance from an agent familiar with real property law in Indiana

The property laws in your state will affect the insurance that your particular business needs. Specific types of property insurance include protection from property damage, public liability and rent interruption.
Try:  To make sure you cover everything you need to, check out the Insurance Services Group website for information on specific types of property insurance coverage for business owners. Nationwide has agents throughout the country and its website offers an agent search capability by name or location.

Find a tax lawyer that is familiar with real estate laws in Indiana

Taxes generally are higher on business property than residential property and most businesses will require the services of an Indiana real estate lawyer. This will ensure you pay your taxes on time and receive any deductions that you are allowed.
Try:  Lawyers.com allows you to search for real estate attorneys by city and allows you to sort by county. Select your city at AttorneyLocate.com and then select real estate as the practice area.

Hire an Indiana real property lawyer to handle real estate transactions

A business owner should have a real estate attorney's assistance in drawing up a contract when buying, selling or renting property. Your attorney can ensure that the contract protects your interests and is legally enforceable.
Try:  Fort Wayne-based Carson Boxberger primarily practices business law and has a real estate group. Indianapolis-based Gary R. Welsh has practice areas that include business, employment, family law, immigration, information technology and real estate.

• Small businesses normally hire an attorney that practices Indiana real property law by the hour, rather than keeping one on retainer. While a lawyer is necessary when buying and selling property, you can save money by completing as much paperwork as possible by yourself.
• Select a lawyer who specializes in Indiana real property law and is familiar with your particular industry. For example, if you operate an agricultural business, your real estate lawyer should know about the property laws that pertain to farming.