Real Estate Law in New Jersey

West Orange'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 Orange 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 important that you learn at least the basics of real estate law in West Orange.

Having at least some knowledge of real estate law will be to your advantage in practically 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 Orange

Financing: Most individuals are unable to make major real estate purchases in West Orange 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: If you're buying a house in West Orange, you have certain legal protections. The seller has a duty to tell the buyer about any defects that the property has. All defects which the seller knows about, and which the buyer can't be expected to discover through an ordinary inspection, must be disclosed. If the seller fails to disclose a defect, and the buyer later discovers it, the seller can be sued for any diminution in the property's value caused by the defect, the cost of repairing it, and any injuries the buyers suffers as a result.

Implied Warranties: In West Orange, every residential lease agreement, whether it's explicitly stated or not, has an "implied warranty of habitability." This is a legally-imposed promise by the landlord that the rented dwelling (whether it's a house or apartment) is fit for habitation by humans. While there are many requirements for a place to be considered habitable, some of the most important ones are electricity, running water, heating, and protection from the elements.

Can a West Orange Real Estate Lawyer Help?

These issues, along with many others, can sometimes be fairly perplexing. Therefore, you should never hesitate to consult with a West Orange real estate attorney if you have any questions.