The world of real estate law is famous for its complexity. Maybe that is why so many people depend on the services of qualified real estate attorneys to help them navigate it. Every year, the market for real estate law firms generates more than $25 billion!
The world of real estate law consists of many different areas of law that are related to each other. That means that some people end up using real estate lawyers for very different things. This is one reason why some people want to know which areas of law fall under the umbrella of real estate law.
Read on to learn all about the most important aspects of real estate law and how legal experts help people navigate them!
What Is Real Estate Law?
Real estate law is a broad term that refers to all of the laws related to the ownership of property. It also includes some laws about how people can use the property when they do not own it themselves.
Real estate law governs some of the kinds of agreements that people are allowed to make with each other about their property. For example, when a landlord makes a deal with a tenant, they cannot do so however they want. Instead, they must make certain kinds of agreements that follow the rules laid out in real estate law.
The same basic principle applies to many other facets of real estate law. We will examine five of the areas of law that fall under the umbrella of real estate law.
Real Estate Law Basics for Zoning
Zoning law determines how land can be used in different places. It designates certain areas as places where land can be used for homes and other areas as places where land can be used for commercial reasons.
It also establishes where mining and other kinds of operations occur. After all, most people do not want to live in the immediate vicinity of these kinds of operations.
Zoning law also regulates how landowners buy and sell their property. In some cases, people violate zoning laws by accident. Not everyone realizes that the land they own can only be used in certain ways.
Accidentally violating zoning laws can lead to serious consequences for businesses as well as for individual homeowners. In many cases, zoning law violations lead to fines or taxes. In most cases, accidentally violating such laws does not come with a criminal sentence or prison term.
A Real Estate Lawyer Can Help With Disclosure Law
Some people have a tendency to mix up zoning laws and disclosure laws. In general, zoning laws are all about how the location of a property affects how it can be used. However, disclosure laws have much less to do with geographical location.
Instead, they regulate things like how a new owner needs to handle the owner ownership transferral process. During moments of property transferral, owners and sellers have to be upfront with each other about the essential details of the property in question. Among other things, they have to advise everyone involved about any toxic chemicals that may be near or on the property.
In general, you can think of disclosure laws as making sure that people do not omit essential information when it comes to property transfer and management.
What Does a Real Estate Lawyer Do for Landlords?
Another area of real estate law is landlord and tenant law. In every state, landlords have certain designated rights and responsibilities. Tenants have their own complementary rights and responsibilities.
For example, landlords and tenants need to balance rights to privacy with rights to property maintenance. That is why these laws govern things like how and when a landlord can insist on visiting their property while a tenant is renting it.
These laws also govern things like what landlords are allowed to take into account when it comes to deciding who their tenants will be. For example, landlords are not allowed to take into account things like race, religion, and sexual orientation.
These laws also include things like when a tenant is required to return a security deposit and in what way. When landlords or tenants have disputes, they sometimes turn to a real estate lawyer.
A real estate lawyer can clarify if everyone involved in a situation is following the laws that apply to them. When they are not, a real estate lawyer can help the injured party find justice.
How a Real Estate Lawyer Can Help With Insurance
Insurance is a valuable piece of social and economic technology. However, it works best when certain rules are followed. For that reason, insurance laws in the world of real estate regulate what kind of insurance can be bought and sold.
People often turn to a real estate lawyer when they feel that they are not receiving from their insurance what they are supposed to. Real estate lawyers help real estate owners and others to receive whatever an insurance company is obligated to provide them with.
Real Estate Contract Laws
Contract laws are another essential piece of social technology. They allow people to coordinate and trust each other even if they do not know each other well enough to trust them as individuals. The legal system enforces contracts so that they are trustworthy regardless of the trustworthiness of the people involved in agreeing to them.
Understand the Most Important Things to Know About Real Estate Law
Although we use a single word to refer to the whole of real estate law, the truth is that there are many facets to this complicated part of our legal system. Finding the right legal counsel to help you navigate your real estate law needs can help you achieve the best outcomes possible. Spending a little extra time and effort to find the right attorney to help you is an investment that will more than pay for itself over the years.
To learn more about real estate law and how to find real estate lawyers who can help you with it, reach out and get in touch with us at any time!