Real Estate Law in Texas
Muleshoe'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 huge volume of laws governing real estate in Muleshoe might seem overwhelming to the uninitiated. Indeed, they can get very complicated, especially when issues about title defects or construction disputes are involved.
Therefore, it's always good to have at least some knowledge of Muleshoe's real estate law.
Some understanding of the relevant law can give you an advantage in almost any situation. In the real estate context, 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 Muleshoe
Financing: Most people are unable to make major real estate purchases in Muleshoe with cash, because few people have that kind of money on hand. Therefore, 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 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 ordinary inspection, must be disclosed to the buyer.
Implied Warranties: In Muleshoe, 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 Muleshoe Real Estate Lawyer Help?
These issues, along with many others, can sometimes be fairly complicated. Therefore, you should never hesitate to consult with a Muleshoe real estate attorney if you have any questions.