Real Estate Law in New Hampshire
Epsom'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 Epsom 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 Epsom's real estate laws.
If you have even a little bit of basic familiarity 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 Epsom
Financing: Most individuals, families, and small businesses in Epsom cannot afford to buy a large piece of real estate with the money they have on hand. However, they often can afford to pay for it over a long period of time, in installments, with interest. Consequently, most real estate is purchased using a mortgage - a loan for a specific purchase, using the item purchased as collateral.
Zoning: Zoning laws dictate what types of buildings can go on given pieces of property. These laws are usually 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 usual inspection, must be disclosed to the buyer.
Implied Warranties: In Epsom, every residential lease agreement, whether it's specifically 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 Epsom Real Estate Lawyer Help?
The issues discussed here, along with others, can be intricate and confusing. Therefore, if you have any questions on this subject, you should not hesitate to ask an Epsom real estate lawyer.