Moore Real Estate Lawyers
Real Estate Law in Oklahoma
Moore'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.
Real estate law in Moore can be fairly complex, especially when it comes to things like mortgages and the resolution of disputes over construction defects.
Accordingly, it's a smart idea to obtain at least a very basic knowledge of how real estate law in Moore works.
Having at least some knowledge of real estate law will be to your advantage in virtually 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 Moore
Financing: Most people are unable to make major real estate purchases in Moore with cash, because few people have that kind of money on hand. Therefore, 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 Moore, you are protected 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 ensure that you aren't faced with a lawsuit from the buyer sometime in the future.
Implied Warranties: In Moore, every residential rental agreement carries with it a warranty of habitability, in which the landlord implicitly promises that the unit is fit for human habitation. This applies whether or not such a warranty is stated in the lease agreement, and it still applies even if the landlord tries to disclaim any such warranty. There are many conditions that might make a unit uninhabitable. A few examples are a lack of electricity, no running water, or no heating.
Find a Moore Lawyer that Specializes in Your Area of Need:
Can a Moore Real Estate Lawyer Help?
These issues, along with many others, can sometimes be fairly complicated. Therefore, you should never hesitate to consult with a Moore real estate attorney if you have any questions.