Real Estate Law in Missouri
In Rolla, real estate law can affect just about anything involving the use, purchase, or sale of land and fixtures to land, such as buildings.
The massive volume of laws governing real estate in Rolla might seem overwhelming to the uninitiated. Indeed, they can get very complicated, especially when issues about title defects or construction disputes are involved.
Accordingly, it's a good idea to learn some of the basics of Rolla's real estate laws.
Having at least some knowledge of real estate law will be to your advantage in essentially any real estate transaction. Knowing the law can give you a bargaining advantage and prevent you from being saddled with obligations that you don't have to assume.
Common Real Estate Law Issues in Rolla
Financing: Not too many people or small businesses in Rolla 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 excellent 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 laws dictate what types of buildings can go on given pieces of property. These laws are typically designed to ensure that residential areas are as clean and as quiet as possible, thereby preserving property values. They accomplish this by ensuring that other uses that might be inappropriate in a residential area, such as heavy industry, are in different parts of town. This also ensures that industries will be able to go about their business without constant complaints from their neighbors.
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 normal inspection, must be disclosed to the buyer.
Implied Warranties: In Rolla, every residential lease agreement, whether it's clearly 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 Rolla Real Estate Lawyer Help?
Because the issues discussed above can get complex for laypersons, if you have a real estate issue, such as an eviction, or a construction dispute, you should not hesitate to contact a Rolla real estate attorney ASAP.