In one way or another, everyone is affected by real estate. Whether you are a tenant, a property owner, or a potential purchaser, real estate, and the laws that govern it, have an impact on our daily lives. Navigating the intricate world of real estate law can be daunting without the right legal guidance.
Various laws come into play in any real estate transaction in Oakland County. The federal legislature and various federal agencies have promulgated legislation and regulations such as the Real Estate Settlement Procedures Act, the Americans with Disabilities Act, the Consumers Protection Act, and the Fair Housing Act. Michigan law is codified in the Michigan Compiled Laws, and regulations are also established by state agencies such as the Michigan Department of Licensing and Regulatory Affairs, the agency that oversees real estate practice licensure.
Locally, zoning laws and municipal ordinances will govern operating and occupancy rights. In addition to statute, case law also creates regulatory structure in the field of real estate.
Almost every real estate transaction in Wayne County requires oversight by experienced real estate attorneys.
Imagine you are looking to purchase a condominium that you wish to operate your business out of it and hold it open to the public in Oakland County. What laws affect you? Will the covenants governing the condominium development permit your business? Is your business permitted to operate where it is located?
Consider even more commonly a simple home purchase. A real estate agent is required to know real estate law, but does not practice law. The purchase of a home is most likely the largest purchase you will make in your lifetime. Simple contractual errors can cost you thousands of dollars, and in larger issues such as undiscovered encroachments on your property could cost much more. Oftentimes, such a major life event requires proper legal representation.
Even a home renovation can go south with an inexperienced and undependable contractor. With faulty work and constant delays, what are your options? Consider an on-site injury – has the contractor procured adequate insurance and will you be indemnified and held harmless for the contractor’s actions?
Commercial loans often include prepayment penalties, debt service coverage ratio (DSCR) requirements and personal guaranties, among various other restrictions that a borrower may not understand or even acknowledge. Failure to understand these provisions can be catastrophic to a commercial borrower.
At B. Kizy Law, we help clients navigate commercial and residential real estate issues in Oakland County such as:
The real estate attorneys at B. Kizy Law review each and every real property matter with scrupulous detail and expertise. Our attorneys work to ensure that the most successful game plan is implemented while working toward the best possible outcome transaction for our clients. We work efficiently and creatively with the client’s goal in mind.
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