The Real Estate Laws in the US are governed by federal statutes, state statutory and common laws. These laws cover a wide spectrum of real estate issues. There are laws on acquiring, financing, developing, managing, constructing, leasing, and selling commercial and residential properties of various kinds.
Laws on Transactions
There are laws on the transactions of the real estate. The principal laws are on negotiation of mortgages, residential purchase and sales agreements, commercial purchase and sale agreement, residential leases and commercial leases. The commercial leases are concerned with the leasing out of offices, medical buildings, restaurants, industrial property, and shopping centers. Also on the list are litigation, consultation, mortgage re-financing, reverse mortgages, 1031 tax deferred exchanges.
Laws on Disputes
There are several forms of disputes in the real estate. The chief areas of legislation are adverse possession, property taxes, and encroachments. There are other subjects too like, prescriptive easements, eminent domain, condemnation, title and boundaries, views, trees, branches, party walls, fence, nuisance, trespass, and sale disputes, which includes, breach of contract, specific performance, non disclosure, fraud, and misrepresentation.
Laws on Brokers
Customers can move to court against brokers, or defend against them. The issues usually are negligence, fraud, misrepresentation, breach of fiduciary duty, and disclosure obligation.
Laws on Construction
The main issues under this segment are construction defects, claims against construction defects, disputes, and construction accident claims.
The laws on land use cover different topics like zoning matter, which includes representation of property owners before governmental departments like cities, counties, zoning boards, design review boards. There are also laws on use of land applications, permits variances, zoning exceptions, design review approvals, special use permits, common interest communities, interpretation and enforcements of Covenants and Conditions and Restrictions.
Blue-sky Laws
This law has been formulated to prevent consumers from buying deceitful securities.
Federal Fair Housing Laws
This law has been formulated to prevent discrimination on the grounds of race, color, sex, handicaps, or even familial status, or even nation of origin, when selling or renting apartments or houses.
License Laws
This law governs the works of professions that require them to be licensed. The profession of real estate agents is one amongst many such jobs.
Megan's Laws
It is a Federal law which necessitates States to develop programs to inform communities when a convicted sex offender has been released into the neighborhood. On most occasions a public register needs to be maintained so that there is an indication of the presence of such a criminal. It was formerly known as the Child Protection Act of 1996.
