The real estate law is the law of the land which regulates the rights of the title of the realty properties. It is really an attempt on part of the lawmakers to meet the insatiable desire of the landholders to keep their properties, and add the element of legality on it. The sphere of the real estate law furthermore addresses other elements that are linked to the land which include any kind of building structure, or other things like trees and minerals which form a part of the land. They extend to air spaces and beneath the ground rights. The law in addition specifies the legal rights regarding relationships between renters and landowners, home development, home loans , foreclosures, etc.
Covering such a extensive area, this can be a mind-boggling and huge task to understand everything. Further complicating things are the different interpretations that different states have pertaining to a specific situation. Therefore, when you have real-estate issues a real estate attorney will be the person you need to look forward to work out your disputes amicably and to make certain you don't get robbed.
Real Estate Foreclosure
A situation may happen when borrowers deal with adversities and fail to make repayments for the loans which they secured against their properties. To secure the loan the borrower may have made a loan agreement or promissory note with the financial institution which enables them to claim pound of flesh, and sell off the house to recuperate their money. Therefore, when there is any disagreement between the borrower and the lender, the doors of the courtroom ought to be knocked which will steps in and imparts to the conflicting parties about real estate law pertaining to their concerns.
Drive away Occupants of your property
If you happen to had house guests who steadily took it as their birthright on your property, the relationships with them might get strained. They may act like arrogant chimps, consuming your food, making use of your power services and cooling back down for paying any bills. And when you try showing them the doors, you might find your self on the wrong side of it. Calling 911 would not be the solution to that, for its potency would be equal to that of a castrated bull. So, how to shoo them away? Well, they need to be taught a lesson or two regarding real estate law which will do the spade work for you.
These circumstances can come up when the government rustles in and labels your premises for development purpose of the modern society such as making highways, flyover, and for other public facilities. Though several states have smartened up and have bounded such practices, but when they do happen they could be tricky, as the governments have their very own calculating yard to assess the exact property cost, which is often far below the market rate. Here again you need to smarten up on the real estate law in order to save yourself from this raw deal.
There can be plenty of other scenarios like, nagging neighbors, or fraud committed on real estate properties, the list goes on…