Real Estate Law in Michigan
In Grand Blanc, real estate law can affect just about anything involving the use, purchase, or sale of land and fixtures to land, such as buildings.
The many laws affecting real estate in Grand Blanc can sometimes feel overwhelming in their volume and complexity. This might apply doubly when your case involves a foreclosure, or a construction dispute.
So, if you're planning on engaging in any kind of real estate transaction, it's crucial that you learn at least the basics of real estate law in Grand Blanc.
Knowing the law can serve you in a number of ways: it can put you in a better negotiating position, it can help you spot unlawful terms in lease agreements, and ensure that you know your rights if a dispute arises, among other things.
Common Real Estate Law Issues in Grand Blanc
Financing: Most people are unable to make major real estate purchases in Grand Blanc with cash, because few people have that kind of money on hand. Therefore, 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 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 to Disclose: When buying a home in Grand Blanc, you are protected 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 ensure that you aren't faced with a lawsuit from the buyer sometime in the future.
Implied Warranties: In Grand Blanc, 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 stated in the lease agreement, and it still applies even if the landlord tries to disclaim any such warranty. There are many conditions that might make an unit uninhabitable. A few examples are a lack of electricity, no running water, or no heating.
Can a Grand Blanc Real Estate Lawyer Help?
Because the issues discussed above can get confusing for laypersons, if you have a real estate issue, such as an eviction, or a construction dispute, you should not hesitate to contact a Grand Blanc real estate attorney ASAP.