Real Estate Law in Wisconsin

The real estate industry in Hales Corners 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 Hales Corners can be fairly complicated, 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 Hales Corners'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 Hales Corners

Financing: The majority of people in Hales Corners can't afford to make a major real estate purchase by paying the full purchase price up front. Most individuals and small businesses, therefore, use a mortgage to make real estate purchases. A mortgage is a loan given 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 laws control what types of structures can be built on given parcels of land. Typically, cities and towns are zoned in order to ensure that neighborhoods are clearly divided into residential, commercial, and industrial categories, to ensure that everyone who uses the land can make the best possible use of it, for their particular purpose

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 Hales Corners, 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 Hales Corners Real Estate Lawyer Help?

These issues, along with many others, can sometimes be fairly difficult. Therefore, you should never hesitate to consult with a Hales Corners real estate attorney if you have any questions.