Real Estate Law in Nebraska
Kearney's real estate industry is governed by a huge body of laws. This is because almost any real estate transaction invokes laws concerning civil rights, consumer protection, land use, and contracts.
The law governing real estate in Kearney can get pretty complicated, especially when things such as mortgages, disputes about construction defects, and conflicts over title are involved.
Accordingly, it's a good idea to learn some of the basics of Kearney's real estate laws.
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 disagreement arises, among other things.
Common Real Estate Law Issues in Kearney
Financing: The majority of people in Kearney can't afford to make a major real estate purchase by paying the entire purchase price up front. Most individuals and small businesses, therefore, use a mortgage to make real estate purchases. A mortgage is a loan given for the purpose of buying a piece of property, with the bank obtaining a security interest in that property until the loan and interest are paid off.
Zoning: Zoning laws establish rules saying what kinds of buildings are authorized in various areas of a city or town. These rules serve a variety of purposes. For example, they normally 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 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 Kearney, 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 Kearney Real Estate Lawyer Help?
These issues, along with many others, can sometimes be fairly convoluted. Therefore, you should never hesitate to consult with a Kearney real estate attorney if you have any questions.