Are you seeking to acquire information about Florida real estate law? Luckily, you have arrived at the right place. Real estate law presides in every state of our country but it can vary depending on the state that you live in. If you are considering purchasing a property in Florida, you must be aware of the different property laws presiding in this specific state.
Buying a household or being a homeowner can be a dream come true for most people. Your home can be your biggest asset because it will keep you or your future family safe and secure. However, certain legalities can appear when you purchase a home. For example, the real estate market can fluctuate in price depending on the day or your property may suffer damages due to bad weather or robbery.
Having these factors in mind, it is recommended to seek representation from a real estate lawyer. These highly-trained professionals possess the necessary expertise for your own specific case. They are knowledgeable about the aspects and mandates of Florida real estate law that can become confusing for a regular person. For that reason, we invite you to join us throughout this article while we explain to you those specific mandates and, and the importance of receiving legal advice effectively tackle them.
What Is Real Estate Law in Florida?
Real estate law, also known as property law, is the area that governs buying, using, or selling land. It determines how individuals acquire property, and what they can do to improve the value of the premises. Although individuals commonly associate the words “real estate” with physical structures such as buildings and homes, real property refers to other aspects.
These are tangible factors like plantations and trees or intangible aspects such as interests, benefits, and rights within the property. These can range from rental fees to more long term payments like mortgages. Additionally, real estate law governs every detail surrounding changes in the property. These can be property renovations, public construction, and soil drilling.
Real estate is a form of real property. However, it differs from personal property, which are factors not exactly attached to the land. These can be vehicles, furniture, clothing, and jewelry. There are four types of real estate:
- Residential real estate is an area utilized for individuals to live in. Some examples of residential real estate are single-family houses, condominiums, vacation homes, apartment buildings, and townhouses.
- Unlike residential real estate, commercial real estate is developed for offering goods and services. This includes hotels, malls, hospitals, educational institutions, and office buildings.
- Industrial real estate covers manufacturing buildings, factories, and warehouses. This type of property is utilized for the production, storage, and distribution of goods.
- Land covers vacant land, farms, and ranches.
Real Estate Laws in Florida
- Florida Homestead Laws: These defend elderly and disabled individuals from evictions and foreclosures. Florida’s homestead exemption provides an absolution from forced sale before and during death. This mandate does not limit the value of certain real property that can be protected from creditors.
- Florida Lease and Rental Agreement Laws: These establish limits on security deposits and time limits for the return of deposits. Furthermore, Florida lease and rental agreement laws protect individuals from any discrimination or abuse from their landlords or tenants.
- Florida Adverse Possession Laws: When individuals move into a damaged property, these mandates defend the interests of the homeowners who wish to perform changes in the space. These laws also grant individuals the title to the property after moving into it and then renovating the property.
- Florida Civil Statute of Limitation Laws: These establish the amount of time that homeowners are given to file a claim or start a legal process. Usually, they preside over personal injuries, damaged property, trespasses, and fraud.
Benefits of Legal Expertise
- Easy and Effective Negotiation: An experienced lawyer has the necessary expertise in negotiating with property adjusters. They will review the household contract and verify that there aren’t any dishonesties that can negatively affect your interests.
- They develop a background check: Whenever you are about to purchase a home, background checks may be difficult to develop without the needed expertise. However, real estate lawyers can create a background check of the property to ensure that it is free from any legal issues.
- Expedition: Purchasing a home on your own can be quite complex. Realtors and sellers are much more likely to sell you the property if you have a legal expert on your side.
- Facilitating Title Searches: These are highly important when it comes to negotiating. Title searches help you determine the person with whom you should be doing business. For example, if the individual selling the property does not possess the legal authority to do so, the entire negotiation can be voided.
You Need Legal Advice
This information was brought to you by the best real estate law firm in the state of Florida! We would like to thank you for taking the time to read this article. We now believe that you have been given a better insight into the governing aspects of Florida real estate law. However, if you do decide to purchase residential property, we encourage you to reach out to a real estate lawyer right away!