Real Estate Law in Kentucky
In Radcliff, 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 Radcliff 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 Radcliff's real estate law.
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 Radcliff
Financing: Most individuals are unable to make major real estate purchases in Radcliff 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 regulations govern 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 authorize 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 Radcliff, 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 Radcliff, 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 Radcliff Real Estate Lawyer Help?
Because the issues discussed above can get intricate for laypersons, if you have a real estate issue, such as an eviction, or a construction dispute, you should not hesitate to contact a Radcliff real estate attorney ASAP.