Real Estate Law in North Carolina

Wesley Chapel's real estate industry is controlled by a huge body of laws. This is because almost any real estate transaction invokes laws regarding civil rights, consumer protection, land use, and contracts.

Real estate law in Wesley Chapel can be fairly complex, especially when it comes to things like mortgages and the resolution of disputes over construction defects.

So, if you're planning on engaging in any kind of real estate transaction, it's important that you learn at least the basics of real estate law in Wesley Chapel.

Having at least some knowledge of real estate law will be to your advantage in basically 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 Wesley Chapel

Financing: Most individuals are unable to make major real estate purchases in Wesley Chapel 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 laws establish rules saying what kinds of buildings are allowed in various areas of a city or town. These rules serve a variety of purposes. For example, they usually protect residents by making it illegal for industrial facilities to be built in residential areas. This also protects industries, allowing them to do their business without being bothered by constant complaints and lawsuits from their residential neighbors.

Duty to Disclose: When buying a home in Wesley Chapel, 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 Wesley Chapel, 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 Wesley Chapel Real Estate Lawyer Help?

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