What is Real Estate Law?
Any plot of land and the permanent buildings and structures on or within it are considered real estate, or real property. In the state of Florida, there are a variety of laws and statutes that govern the buying, selling, and use of real estate. Notably, the protections of real estate law are not applicable to personal property residing on a plot of land. The real estate law definition refers to how people purchase and utilize their commercial or residential property, and how these transactions are recorded.
Within real estate law lies a range of legal intricacies. For instance, different laws may apply to a commercial versus residential property, or to a building that is rented out by a tenant. Additionally, local governments may have unique zoning ordinances that determine how the land and surrounding environment can be used. Generally, the majority of real estate laws are governed by state laws with the expectation of a few federal laws that remain consistent throughout the country like the Interstate Land Sales Full Disclosure Act.
Terms and Intricacies of Real Estate Law
The sub-categories of real estate law pertain to the detailed legalities of purchasing and using a property. At the Saade Law Firm, P.A., we highly suggest working with a real estate lawyer whenever there is a property transaction to ensure transparency and compliance with the wide range of laws.
Depending on the type of property being purchased, the buyer will receive a range of deeds. A deed in real estate law is a legal document outlining who owns the property. Real estate deeds must be thorough and detailed, and the types of deeds vary depending on the terms and conditions, so it is best to have an experienced attorney manage the transaction.
Another crucial part of purchasing real estate is holding the title to a property. This process also has several different potential routes depending on who holds the title. If a married couple is purchasing real estate together, they may either become tenants by the entirety or joint tenants with the right of survivorship in the case of a spouses’ death. As another alternative for purchasing property with others, each owner may have their own share of the property, also known as a tenancy in common. Additionally, a person may grant another person a life tenancy, which allows the property to transfer to that person, often with a list of conditions. It is imperative to consult with an experienced attorney to determine which form of title is best and how to properly draft a contract based on that decision.
With a plethora of options regarding deeds, titles, mortgages, zoning, taxes, and tenancy, among many other laws and regulations, the first step in purchasing or selling a property should be to consult with a real estate lawyer. At the Saade Law Firm, P.A., our experienced attorneys understand the intricacies of real estate law and are determined to help all property owners and buyers to achieve their individual goals. Working with our Miami-based law firm is the best way to ensure compliance, transparency, and that each person’s specific needs are met.