Real Estate Law in Texas
Hillsboro'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 many laws affecting real estate in Hillsboro can sometimes feel overwhelming in their volume and complexity. This might apply doubly when your case involves a foreclosure, or a construction dispute.
Thus, 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 Hillsboro.
Some understanding of the proper law can give you an advantage in almost any situation. In the real estate instance, it can help you spot illegal terms in lease agreements, give you some idea of what your rights are in a dispute, among other things. If nothing else, knowledge of the law can help you spot people who are willing to break it, so you can avoid dealing with them.
Common Real Estate Law Issues in Hillsboro
Financing: Most individuals, families, and small businesses in Hillsboro 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 establish rules saying what kinds of buildings are permitted in various areas of a city or town. These rules serve a variety of purposes. For example, they typically 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: If you're buying a house in Hillsboro, you have specific legal protections. The seller has a duty to tell the buyer about any defects that the property has. All defects which the seller knows about, and which the buyer can't be expected to discover through an ordinary inspection, must be disclosed. If the seller fails to disclose a defect, and the buyer later discovers it, the seller can be sued for any diminution in the property's value caused by the defect, the cost of repairing it, and any injuries the buyers suffers as a result.
Implied Warranties: Every lease of a residential unit in Hillsboro carries with it an implicit promise by the owner that the unit will meet some basic minimum standards for human habitability. There are many factors that go into determining if an unit is "habitable," but there are a few essentials, and they include running water, heat, electricity, and adequate shelter from the elements.
Can a Hillsboro Real Estate Lawyer Help?
These issues, along with many others, can sometimes be fairly intricate. Therefore, you should never hesitate to consult with a Hillsboro real estate attorney if you have any questions.