Real Estate Law in Wisconsin
The real estate industry in Sturgeon Bay 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.
The law controlling real estate in Sturgeon Bay can get pretty complicated, especially when things such as mortgages, disputes about construction defects, and conflicts over title are involved.
Thus, it's always good to have at least some knowledge of Sturgeon Bay's real estate law.
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 Sturgeon Bay
Financing: Most individuals are unable to make major real estate purchases in Sturgeon Bay with cash, because few people have that kind of money on hand. Thus, 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 govern what types of structures can be built on given parcels of land. Usually, 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 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 Sturgeon Bay, 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 Sturgeon Bay Real Estate Lawyer Help?
These issues, along with many others, can sometimes be fairly confusing. Therefore, you should never hesitate to consult with a Sturgeon Bay real estate attorney if you have any questions.