Real estate law, or property law, generally refers to the laws controlling the ownership, use, buying, and selling of land. Real estate law is a branch of civil law that covers the right to possess, use, and enjoy land and the permanent man-made additions attached to it. Real estate law directly or indirectly impacts homeowners, renters, landlords, home buyers, and home sellers.
· Buying or selling a home. Federal government, state and city real estate laws govern the rules of residential property sales and purchases. Real estate laws protect buyers from unscrupulous sellers who might attempt to misrepresent the property to a potential buyer and it could also protect the environment from a buyer who wants to make alterations that are damaging to the land or natural environment.
· Landlord and tenant law. Real property laws also govern the rules around leasing apartments and tenants. Tenant agreements and forms, eviction rules, and whether or not a property is considered inhabitable are all issues governed by real estate laws.
· Foreclosure. Real estate laws determine how foreclosures should be processed. The entire process of foreclosure is impacted by various federal real estate laws and include financial and administrative details.
· Land use laws. How a piece of land can be used is governed by real estate laws. The zoning of residential, commercial, or industrial property is important. Understanding if land can be rezoned from one type to another can impact how an owner or renter of property can use that land within the law.
· Construction. Where construction may take place and what kind of buildings may be built is determined by real estate law. Real estate law also determines the building codes that all new construction must meet. When building and construction codes are violated, real estate law governs how violators are punished.
· Financing. Real estate laws govern mortgages given to buyers of both commercial and residential real property.
· Title and boundary disputes. Real property law governs disputes between two parties over the ownership and boundaries of property. These types of disputes or code violations are common and can impact ownership, a housing association, and the community.
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