Real Estate Law in New Jersey

Old Tappan'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.

The law controlling real estate in Old Tappan can get pretty complicated, especially when things such as mortgages, disputes about construction defects, and conflicts over title are involved.

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

Having at least some knowledge of real estate law will be to your advantage in practically 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 Old Tappan

Financing: Most persons, families, and small businesses in Old Tappan cannot afford to buy a large piece of real estate with the money they have on hand. However, they typically can afford to pay for it over a long period of time, in installments, with interest. Therefore, 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 generally 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 average inspection, must be disclosed to the buyer.

Implied Warranties: In Old Tappan, every residential lease agreement, whether it's explicitly 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 necessary ones are electricity, running water, heating, and protection from the elements.

Can a Old Tappan Real Estate Lawyer Help?

Because the issues discussed above can get intricate for laypersons, if you have a real estate issue, such as an eviction, or a construction dispute, you should not hesitate to contact an Old Tappan real estate attorney ASAP.