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Buying a new home or investing in real estate are typically enormous financial transactions, governed by a complex network of laws and regulations. Because of the value of real estate, state and local property laws require that certain aspects of every transaction be carefully recorded to protect the rights of the buyer, seller, and owners of adjacent properties. Before purchasing real estate, developing an understanding of real estate law can help avoid issues and expensive mistakes later.

3 Important Factors of Property Law

1. Ownership Rights

property lawProperty law covers every aspect of real estate, including establishing ownership, tax issues, and how the property might be used. Before a sale can be finalized, most states require a thorough title search to ensure no one else, such as a local government or relative of a previous owner, has a legal claim to the property. If any ownership conflicts do exist, property law also describes how these issues should be resolved.

2. Zoning

Zoning laws of local governments also dictate what activities can take place on a particular plot of land. For instance, some areas are set aside for industrial use, so converting a warehouse into a nightclub might require an exemption from the local government. In some residential areas, zoning rules can limit the height of certain buildings, forbid owners from obstructing another resident’s view, or require new additions to match the architectural character of the neighborhood.

3. Buyer Protection

Property law also provides powerful protection for home buyers, giving them legal recourse if a seller intentionally conceals a serious defect or misrepresents the condition of the property; because of this, it’s recommended to get an appraisal of a home before making an offer. Many jurisdictions even require an attorney to protect buyers’ and sellers’ rights in every transaction.

 

As one of Connecticut’s most established real estate professionals, Stuart R. Norman Jr. has been providing buyers and sellers throughout Jewett City with high-quality legal advice for over 40 years. Whether you’re buying a home or investing in commercial real estate, you can rely on his property law expertise to protect your rights. Visit his website to learn more about his property law services, or call (860) 376-0069 for your free consultation.

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