No matter who you are, you’re likely to be affected by real estate law at some point in your life. Real estate and property legislation govern a variety of issues ranging from the rights of homeowners and tenants to the kinds of transactions sellers can initiate and the ways certain land can be developed. At Frontier Consumer Law Group, we want to help you learn which aspects of this broad legal domain might apply to you and how to cope.
What Exactly Is Real Estate Law?
In short, real estate law is a field that generally covers transactions, interest, benefits and usage associated with properties such as commercial structures, land, houses and even vegetation. In some cases, real estate law intersects other legal areas, like property or contract law. It’s important to bear in mind that in addition to addressing physical property, this field often applies to abstract factors, like your usage rights or mineral rights.
Why Should I Be Concerned with Real Estate Law?
Real estate laws also define what you can do with your property. For instance, your attempts to sell your home may be governed by specific municipal rules that say you need to have the building inspected first or mandate that you provide a potential buyer with a grace period. If you want to develop your land for agricultural use or start a business, you’ll most likely have to deal with specific zoning regulations and special taxes. You can see why it might be wise to learn about your obligations before making major property decisions.
In some cases, local or federal government agencies may claim rights to portions or all of your property under eminent domain laws. While this most commonly occurs when roads or other public accommodations need to be constructed, some jurisdictions have permitted such land seizures in the name of economic progress. Understanding your rights is a critical part of protecting yourself and ensuring you receive fair compensation.
Real estate law isn’t only an issue for established property owners. Renters whose landlords jeopardize their safety by failing to maintain their properties or providing unsafe facilities may be able to pursue legal action. Families who move into new homes and find that sellers failed to disclose material defects can file lawsuits. Going to court isn’t anyone’s first choice, but for some victims of real estate law abuse, it may be the best option.
One important aspect of real estate law is how it governs financial actions like foreclosure. Unstable housing markets and extremely powerful fiscal institutions may make it seem like there’s nothing you can do to fight back after a lender decides to foreclose on your property. In reality, however, you have the right to advanced notice, lending alternatives and other allowances.
How Can I Benefit from Real Estate Law?
The first step to taking advantage of real estate law is having your case evaluated. Because this field is so broad, it’s important to find out which rules apply to each situation and what you must do to secure your rights. Getting started off on the correct foot is critical to successfully resolving a dispute or filing a case, so contact Frontier Consumer Law Group for a free consultation right away.