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Running Head: LEGAL RAMIFICATIONS OF LOCATION OF A RIVER RAFTING BUSINESS

Legal ramifications of location of a River rafting business

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Introduction

Over the last ten years, river rafting has exploded on the adventure scene as the sports of choice. This explosion has expanded the business opportunities and market in various regions within United States that are located near rivers. North Carolina is just among the places where whitewater rafting is quickly catching up and companies are taking advantage of the booming market to set up business (Bryson city North Carolina, 2011). In order to be able to open a new river rafting business, research on the legal ramifications important to the area of the business needs to be conducted. Of important consequence are the legal aspects or real property, personal property, environmental regulations and issues and insurance.

Legal aspects of acquiring, holding and disposing of Real property in North Carolina

Sole proprietors, partnerships, limited liability companies and even corporations can be able to acquire, hold or even transfer title to real property in the same manner as individuals. Real property that is surplus to the needs of the State and Federal government may be conveyed to eligible individuals for public purposes or it may be sold to private individuals and companies by a competitive bid. This is so as to put the real property to productive and income generating activities. Since the client wants to acquire the property for public recreational activity and sports then he can be abler to acquire the property by way of public benefit conveyance and get substantial discounts in price of up to 100% reduction in fair value (Lawrence & Szypsszak, 2007; GSA, 2011).

The acquisition of land is often subject to competitive bidding. As a sole owner, the client will retain unlimited liability of the business and this implies that all the...