Real Estate Law in Wisconsin
The real estate industry in Grafton is controlled by a wide variety of laws, and these laws can affect the process and outcome of basically any transaction or deal involving the sale, lease, or use of land.
Real estate law in Grafton can be fairly intricate, especially when it comes to things like mortgages and the resolution of disputes over construction defects.
Therefore, it's a good idea to learn some of the basics of Grafton's real estate laws.
Having at least some knowledge of real estate law will be to your advantage in basically 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 Grafton
Financing: Most persons, families, and small businesses in Grafton cannot afford to buy a large piece of real estate with the money they have on hand. However, they generally 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 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 usual inspection, must be disclosed to the buyer.
Implied Warranties: In Grafton, 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 mentioned in the lease agreement, and it still applies even if the landlord tries to disclaim any such warranty. There are many circumstances that might make an unit uninhabitable. A few examples are a lack of electricity, no running water, or no heating.
Can a Grafton Real Estate Lawyer Help?
Because the issues discussed above can get complicated for laypersons, if you have a real estate issue, such as an eviction, or a construction dispute, you should not hesitate to contact a Grafton real estate attorney ASAP.