Since one in 200 houses are foreclosed upon, it is very important that homeowners know their rights. While attorneys can provide you the best information possible on foreclosure law, you should know that there are very strict state laws regarding proper notice and opportunities to get your mortgage payments up to date. Here are some other rights homeowners need to know.
One of the most bizarre real estate law cases in America is called adverse possession, but it is known conventionally as squatters rights. Each state takes a different approach to handling this odd legal quandary, and resolving the issue almost always requires the help of a real estate lawyer. If you believe you have the rights to a property, but someone has moved in without informing you or paying for the right to live there, you must contact your real estate attorney immediately.
Real estate has become a fairly litigious industry, which sometimes makes it difficult for the average person to deal with. The nature of real estate law cases is often complicated and deeply infused with legalese. If you find yourself in a confusing legal situation relating to real estate, you might benefit from contacting a real estate lawyer. Here are some common real estate law cases that you could face in the future.
- Eviction Case
If you’re behind on your payments and are at risk of being evicted, you should know your rights. Though it varies from state to state, the tenant has certain rights. For example, in California, if a tenant that has lived at the location for over one year, it is required that the landlord provide a minimum of 60 days notice to vacate the premises. Knowing this can potentially give you enough time to make good on payment requirements.
No one deserves to have their home foreclosed upon, but failure to make payments to your lender certainly gives them the right to repossess your property. This is because mortgages are secured loans. This means the house is collateral for failure to make payment. If you believe, however, that you were not given ample notice of an impending foreclosure, contact an attorney today.
- Building Code Violation
On the other side of things, you might be a rental property owner. Building codes are set forth by administrative government agencies to protect residents. If your tenants become aware of violations and report them, you could be subjected to lawsuits. To avoid this, regularly have your building inspected.
- Adverse Possession
Also known as ‘squatters rights’, adverse possession refers to any resident of property that doesn’t have legal documentation for their ownership of the property but has maintained residence for sufficient duration that the rightful owner no longer has legal claim to the property. The specific laws vary state to state, and it is best to discuss this with a lawyer.
There are many different real estate law cases due to the complex nature of property ownership. Since these laws are frequently obtuse and difficult to make sense of, it is important to talk to a lawyer with experience in these matters. If you need help with any of these cases, or another real estate law, contact us today.
There are many rules and regulations when it comes to real estate sales and building codes. For instance, in California, real estate agents must disclose any information about deaths on a property that have occurred within the last three years prior to a sale. The rules real estate agents must abide by are often fairly strict, but when you are in the property development industry, building code violations can be even more restrictive. This is because building codes are generally in place for the safety of homeowners and residents. So, what are some of the most common building code violations?
- Smoke Alarms
There are different requirements based on the location of your residency, but possibly the most common housing violation involves improperly placed or insufficient smoke alarms. Most places will require smoke detectors to be both hard wired and battery backed.
Having bathroom ventilation that leads into the attic instead of outdoors can lead to moisture accumulation. Following that, mildew and mold can form, leaving the resident at a serious health risk. Properly ventilated homes are much cleaner and safer to reside in.
A seemingly simple device like a handrail might not be traditionally thought of as something that can have a code violation associated with it. The most common handrail violation is not having a ‘return’. This means the handrail doesn’t return to touch the wall but instead runs parallel from the top of the staircase to the bottom. Having a handrail return can protect against falls.
If you are the landlord of a building full of tenants, it is important that you regularly have your property inspected for code violations. If you don’t, it is possible to be found liable for damages or injury caused by a code violation. If you are being accused of code violations, contact a real estate law firm immediately. A real estate lawyer might be able to help you find a more amicable solution to code violation lawsuits. If you need assistance with making sure your building is up to code, talk to a real estate law firm about regulations specific to your area.
Did you know that the National Association of Realtors has data that says 77% of homebuyers have a prospective home inspected prior to purchasing? If you are selling your home, consider having it inspected before putting it on the market. This will give you ample time to make the necessary repairs and list your home for more than you otherwise could. For both buyers and sellers entering into a real estate contract, it is important to get an inspection done. Here’s why.
- Electrical Issues
If you are buying a house, you want to make sure that the wiring is working as advertised. Faulty wiring can lead to excessive energy consumption, non-functioning outlets, power outages, and fires. A home needs to have quality and up-to-date electric. If it doesn’t, the seller won’t get the price they’re asking for, and the buyer will be stuck with a frustrating and potentially dangerous home.
- Foundation Leaks
Whether it’s because the drainage system is incorrect, the gutters are clogged, the foundation has cracks, or the basement windows are improperly sealed, foundation leaks are expensive to repair. If you find foundation leaks in a home, you might be better off looking elsewhere.
- Roofing Repairs
A damaged roof can cost more money than most home repairs. If you notice shoddy shingles, leaks from a ceiling, or a general aged appearance to the roof, you should either look elsewhere or consider a roof replacement as an investment before entering into a real estate contract.
- General Damage
If the home has a run-down feeling to it, consider that a big red flag. Not all homes that look pretty are problem-free upon inspection, but nearly all homes that look worn down do have problems. If you’re a do-it-yourself type of person, you might find good deals in these types of homes, but certainly inspect them first.
When buying or selling a home, it helps to have some knowledge of real estate law cases. Rely on a real estate lawyer for answers to questions you don’t know. Always have a home inspected, whether you’re buying or selling, so you can feel comfortable that there are no building code violations.