Real Estate Law in Wisconsin
The real estate industry in West Salem is controlled by a wide variety of laws, and these laws can affect the process and outcome of practically any transaction or deal involving the sale, lease, or use of land.
The law controlling real estate in West Salem 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 West Salem's real estate law.
Having at least some knowledge of real estate law will be to your advantage in practically 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 West Salem
Financing: Most individuals are unable to make major real estate purchases in West Salem 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 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 West Salem, 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 West Salem Real Estate Lawyer Help?
These issues, along with many others, can sometimes be fairly confusing. Therefore, you should never hesitate to consult with a West Salem real estate attorney if you have any questions.