Real Estate Law in Illinois

Real estate law in Harvard governs almost everything involved in the sale and use of land.

The large volume of laws regulating real estate in Harvard might seem overwhelming to the uninitiated. Indeed, they can get very complicated, especially when issues about title defects or construction disputes are involved.

Therefore, it's a good idea to learn some of the basics of Harvard's real estate laws.

Knowing the law can serve you in a variety of ways: it can put you in a better negotiating position, it can help you spot unlawful terms in lease agreements, and confirm that you know your rights if a dispute arises, among other things.

Common Real Estate Law Issues in Harvard

Financing: Not too many individuals or small businesses in Harvard can purchase real estate with the cash on hand, simply because land is expensive, and few people have hundreds of thousands (or even millions) of dollars in the bank. In buying real estate, a mortgage is an outstanding solution for most people. Of course, you still have to pay the full price of the real estate you're buying, but a mortgage allows you to do this in installments, over a period of years.

Zoning: Zoning regulations determine what types of structures are allowed on various parcels, based on their location in a municipality. For instance, some areas in a city might be zoned only for residential use. Another area might allow industrial use. These rules are meant to keep property values up, and promote harmony among neighbors by preventing conflicts.

Duty to Disclose: When buying a home in Harvard, 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: In Harvard, 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 mentioned in the lease agreement, and it still applies even if the landlord tries to disclaim any such warranty. There are many circumstances that might make an unit uninhabitable. A few examples are a lack of electricity, no running water, or no heating.

Can a Harvard Real Estate Lawyer Help?

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