Passaic Real Estate Lawyers

Find the right Real Estate attorney in Passaic, NJ

Real Estate Law in New Jersey

Passaic's real estate industry is governed by a huge body of laws. This is because almost any real estate transaction invokes laws concerning civil rights, consumer protection, land use, and contracts.

The law governing real estate in Passaic can get pretty complicated, especially when things such as mortgages, disputes about construction defects, and conflicts over title are involved.

So, if you're planning on engaging in any kind of real estate transaction, it's crucial that you learn at least the basics of real estate law in Passaic.

Having at least some knowledge of real estate law will be to your advantage in essentially any real estate transaction. Knowing the law can give you a bargaining advantage and prevent you from being saddled with obligations that you don't have to assume.

Common Real Estate Law Issues in Passaic

Financing: Most individuals, families, and small businesses in Passaic cannot afford to buy a large piece of real estate with the money they have on hand. However, they usually can afford to pay for it over a long period of time, in installments, with interest. Therefore, most real estate is purchased using a mortgage - a loan for a specific purchase, using the item purchased as collateral.

Zoning: Zoning laws dictate what types of buildings can go on given pieces of property. These laws are generally designed to ensure that residential areas are as clean and as quiet as possible, thereby preserving property values. They accomplish this by ensuring that other uses that might be inappropriate in a residential area, such as heavy industry, are in different parts of town. This also ensures that industries will be able to go about their business without constant complaints from their neighbors.

Duty to Disclose: sellers of real estate, especially houses and other residential property, are legally bound to tell the buyer about any defects in the property that the seller knows about, and that the buyer couldn't easily discover on his own (mold or termite problems are common examples). If the seller fails to make such disclosures, he or she could be liable for any harm the defect causes to the buyer, as well as the cost of repairing it. If the seller intentionally conceals or lies about the defect, he or she might also face punitive damages.

Implied Warranties: Every lease of a residential unit in Passaic carries with it an implicit promise by the owner that the unit will meet some basic minimum standards for human habitability. There are many factors that go into determining if an unit is "habitable," but there are a few essentials, and they include running water, heat, electricity, and adequate shelter from the elements.

Can a Passaic Real Estate Lawyer Help?

The issues briefly discussed above, as well as many others, can be very complicated. Accordingly, if you are engaged in any real estate transaction, it's never a bad idea to first consult with an experienced Passaic real estate attorney.

Talk to a Real Estate Law Attorney now!

Life in Passaic

Passaic, New Jersey is a city in Passaic County. As of a 2008 Census estimate, its population is just under 67,000 people.

The city of Passaic can trace its origins to a Dutch settlement established in 1679, on the Passaic River. "Passaic" comes from the Lenape word pahsayèk, which means "valley." The 19th Century saw a great deal of industrial growth, becoming a center for the textile industry. Passaic is sometimes called the "birthplace of television" because, while the TV was not invented there, it is the site of the first permanent TV station designed to broadcast to consumers. It began transmission in 1931.

Currently, portions of Passaic are designated by the state of New Jersey as "urban enterprise zones." This is part of a state program to promote entrepreneurship and economic growth by targeting areas underserved by businesses providing basic services, and encouraging them to set up shop there through reduced sales taxes (3 1/2% as opposed the statewide rate of 7%), and tax credits for hiring new employees.

If you live in Passaic, New Jersey, and need an attorney, chances are good that you'll be able to find one. Thanks to its size, diversity, and proximity to the large city of Newark, there is a significant legal community there. The chances are good that a Passaic, New Jersey lawyer can help you with whatever legal issues you might face.

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