Kentucky Real Property Law

Get help for your business from a Kentucky property attorney
By Emmet McMahan Kentucky 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 Kentucky 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 a Kentucky 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 Kentucky 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 laws in Kentucky

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:  State Farm offers insurance on business property in all 50 states and allows you to search for an agent by city, state, zip code and area code. Create your own checklist of types of coverage your business will need at Smart Business, which gives the steps to take and types of coverage to consider when obtaining property insurance.

Find a tax lawyer who is familiar with Kentucky land laws

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

Hire a Kentucky real estate attorney 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:  Grayson-based W. Jeffrey Scott has a variety of practice areas, including commercial and residential real estate. Louisville-based Morgan & Pottinger has a law group with specific experience in real estate transactions and dispute resolution.

• Small businesses normally hire an attorney that practices Kentucky 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.