Real Estate Law in Utah
Santaquin'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 wide volume of laws regulating real estate in Santaquin 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 a good idea to learn some of the basics of Santaquin's real estate laws.
Knowing the law can serve you in a variety of ways: it can put you in a better negotiating position, it can help you spot unlawful terms in lease agreements, and confirm that you know your rights if a dispute arises, among other things.
Common Real Estate Law Issues in Santaquin
Financing: The majority of people in Santaquin can't afford to make a major real estate purchase by paying the full purchase price up front. Most people and small businesses, therefore, use a mortgage to make real estate purchases. A mortgage is a loan issued 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 regulations determine what types of structures are allowed on various parcels, based on their location in a municipality. For example, some areas in a city might be zoned only for residential use. Another area might allow industrial use. These rules are meant to keep property values up, and promote harmony among neighbors by preventing conflicts.
Duty of Disclosure: Sellers of homes are bound by a legal duty to disclose defects in the home to prospective buyers, before they purchase 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 Santaquin, 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 crucial ones are electricity, running water, heating, and protection from the elements.
Can a Santaquin Real Estate Lawyer Help?
These issues, along with many others, can sometimes be fairly perplexing. Therefore, you should never hesitate to consult with a Santaquin real estate attorney if you have any questions.