Type of law that stipulates who may own and make use of particular land. Real estate law includes different legal specialties in many units. Land or real estate may be commercial or residential and this law has provisions to how it is used, titled and many other things. The law provides for quite a variety of things in real estate . An example is contract law it requires that the transaction be made in writing. It is obvious that various aspects in real estate have a specific type of law that is attached to them and which influences them. To be brief, real estate law is centered around many complex activities which vary greatly.
The law is very important in many areas . The law serves a great purpose in the legal acquisition and ownership of property . This law is widely used in buying and selling of real estate thus gives one peace of mind and no their problems likely to befall in the future. Land ownership is very great and thus having a title is very advantageous in some cases. Real estate law examines the title to real estate, evaluation of title among other things. Real estate law firms negotiate title insurance policies using real estate law so as to determine who is the legal owner of real estate.
Real estate law is also beneficial in guiding land and environmental use. Real estate law provides for land use as well as compliance with environmental laws . Another important area that is covered by real estate law is development, in negotiation and preparation of development and construction agreements and other documents required.
There is also tenancy law, it is very essential in establishing the relationship between grantor and grantee. It provides for negotiation and preparation of industrial leases and long term ground leases. It provides for fiscal discipline as well . Covers a lot when it comes to finances, for example, loan sales, purchases. Very critical when it comes to joint ventures. Real estate law, in this case, provides a good position for creating partnership agreements and understanding more about tax elements of the transactions.
It is important as to do with restructuring and workouts. Usually sometimes a transaction may not be completed, this will allow for real estate law to carry out transactional, bankruptcy, tax and litigation work to make everything good . This law is essential in determining what to be done to a defaulter, in real estate the property can be sold out forcefully, guarantee actions among other things. Also deals with trespass . Real estate law provides so much when it comes to real estate ownership, use or sell etc.