Real Estate Law in Michigan

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

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

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

If you have even a little bit of basic knowledge 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 Bridgeport

Financing: Most individuals, families, and small businesses in Bridgeport cannot afford to buy a large piece of real estate with the money they have on hand. However, they usually can afford to pay for it over a long period of time, in installments, with interest. Therefore, most real estate is purchased using a mortgage - a loan for a specific purchase, using the item purchased as collateral.

Zoning: Zoning regulations determine 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 allow 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 ordinary inspection, must be disclosed to the buyer.

Implied Warranties: In Bridgeport, every residential lease agreement, whether it's explicitly stated or not, has an "implied warranty of habitability." This is a legally-imposed promise by the landlord that the rented dwelling (whether it's a house or apartment) is fit for habitation by humans. While there are many requirements for a place to be considered habitable, some of the most critical ones are electricity, running water, heating, and protection from the elements.

Can a Bridgeport Real Estate Lawyer Help?

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