Real Estate Law in Alabama
Real estate law in Huntsville covers almost everything involved in the sale and use of land.
The law controlling real estate in Huntsville can get pretty complicated, especially when things such as mortgages, disputes about construction defects, and conflicts over title are involved.
Therefore, it's a good idea to learn some of the basics of Huntsville's real estate laws.
If you have even a little bit of basic understanding of applicable real estate law, your life will probably be a great deal easier. If you have some understanding of the law, your knowledge will likely put you in a better bargaining position.
Common Real Estate Law Issues in Huntsville
Financing: The majority of people in Huntsville can't afford to make a major real estate purchase by paying the full purchase price up front. Most individuals and small businesses, therefore, use a mortgage to make real estate purchases. A mortgage is a loan given for the purpose of buying a piece of property, with the bank obtaining a security interest in that property until the loan and interest are paid off.
Zoning: Zoning regulations govern what types of structures are allowed on various parcels, based on their location in a municipality. For example, some areas in a city might be zoned only for residential use. Another area might authorize industrial use. These rules are meant to keep property values up, and promote harmony among neighbors by preventing conflicts.
Duty to Disclose: sellers of real estate, particularly 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 frequent 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 Huntsville 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 Huntsville Real Estate Lawyer Help?
The issues discussed here, along with others, can be complicated and intricate. Therefore, if you have any questions on this subject, you should not hesitate to ask a Huntsville real estate lawyer.