Real Estate Law in New Jersey

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

The law controlling real estate in West Caldwell 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 necessary that you learn at least the basics of real estate law in West Caldwell.

Having at least some knowledge of real estate law will be to your advantage in basically 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 West Caldwell

Financing: Most individuals are unable to make major real estate purchases in West Caldwell with cash, because few people have that kind of money on hand. Thus, to buy real estate, most entities use a mortgage. This is a loan used to buy a piece of property. When the loan is issued, and the property purchased, the lender holds a security interest in the property until the loan is paid off, with interest.

Zoning: Zoning laws establish rules saying what kinds of buildings are allowed in various areas of a city or town. These rules serve a variety of purposes. For example, they usually protect residents by making it illegal for industrial facilities to be built in residential areas. This also protects industries, allowing them to do their business without being bothered by constant complaints and lawsuits from their residential neighbors.

Duty to Disclose: When buying a home in West Caldwell, you are safeguarded by the law. The seller has a legal obligation to disclose to the buyer any defects of which the seller is aware, which the buyer couldn't detect through a superficial inspection. If you are selling a home, it's probably best to disclose every defect you know about, to guarantee that you aren't faced with a lawsuit from the buyer sometime in the future.

Implied Warranties: Every lease of a residential unit in West Caldwell carries with it an implicit promise by the owner that the unit will meet some basic minimum requirements for human habitability. There are many factors that go into deciding 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 West Caldwell Real Estate Lawyer Help?

Because the issues discussed above can get complicated for laypersons, if you have a real estate issue, such as an eviction, or a construction dispute, you should not hesitate to contact a West Caldwell real estate attorney ASAP.