Real Estate Law in Kentucky

In Danville, real estate law can affect just about anything involving the use, purchase, or sale of land and fixtures to land, such as buildings.

The various laws affecting real estate in Danville can sometimes feel overwhelming in their volume and complexity. This might apply doubly when your case involves a foreclosure, or a construction dispute.

Thus, it's always good to have at least some knowledge of Danville's real estate law.

Some understanding of the proper law can give you an advantage in almost any situation. In the real estate instance, it can help you spot illegal terms in lease agreements, give you some idea of what your rights are in a dispute, among other things. If nothing else, knowledge of the law can help you spot people who are willing to break it, so you can avoid dealing with them.

Common Real Estate Law Issues in Danville

Financing: Not too many individuals or small businesses in Danville 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 control 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 permit industrial use. These rules are meant to keep property values up, and promote harmony among neighbors by preventing conflicts.

Duty of Disclosure: Sellers of homes are bound by a legal duty to disclose defects in the home to prospective buyers, before they buy the house. Any defect which the seller knows (or reasonably should know) about, and which cannot be discovered by the buyer through an average inspection, must be disclosed to the buyer.

Implied Warranties: In Danville, 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 Danville Real Estate Lawyer Help?

The issues briefly discussed above, as well as many others, can be very confusing. Accordingly, if you are engaged in any real estate transaction, it's never a bad idea to first consult with an experienced Danville real estate attorney.