The co-founder of Louisiana Fish Fry recently purchased a local commercial building for $564,295. The property was purchased in Baton Rouge by the limited liability company owned by the man and his wife. The purchase includes two lots just less than 10,000 square feet total and a building just over 2,417 square feet. Though it is unclear what the couple plans to do with the property, there are many ideas for it. The acquisition of the commercial property is at a time when the fish fry co-founder is in a legal dispute with his brother related to an attempt to dissolve a holding company.
Sometimes in business transactions, such as commercial real estate transactions, disputes arise. Because there are many components to the process, including drafting a purchase agreement, contract negotiations and real estate closings, disputes sometimes arise between the parties. Many parties can be involved in a commercial real estate transaction, ranging from owners and developers to others associated with the transaction.
To avoid as many possible conflicts as possible, it is important to have a thorough understanding of the process. Various factors, however, can lead real estate litigation and the response to the dispute can be important. When a conflict arises, and a party becomes involved in real estate litigation, options are available for negotiated settlement or taking the dispute to court for resolution.
The purchase, or sales and purchase, of commercial real estate may sometimes encounter challenges. To help ensure that the process proceeds smoothly, an experienced business attorney can serve as a guide throughout the process and a resource should any disputes arise.
Source: The Advocate, "La. Fish Fry co-founder buys Kean's building," Timothy Boone, April 12, 2014