In real estate, written contracts exist so that both parties are fully aware of their obligations in the transaction. However, when one party does not uphold their end of the contract by failing to fulfill the obligations outlined within the contract, this is known as a breach of contract. There are different ways a breach can happen: the party may not have fulfilled their obligations in a timely manner, the party may have performed these obligations in a way that did not meet the terms of the contract or the party may have not performed the obligations at all. In all of these cases, the non-breaching party is entitled to sue the other party for compensatory damages. The exact amount and kind of damages is dependent on the facts of the case. There are also other remedies, such as specific performance, in which a court requires the breaching party to fulfill their obligations according to the contract.
What if my property has a title defect? What is a title defect? Will a title defect derail my real estate transaction? These questions may be running through your head as you are considering executing a real estate transaction.
Sometimes it appears the government has taken over an area for its own use, even against the landowner's consent. For Arizonans, the prospect of losing your land to such a situation is a scary one, but certain key factors must be met before this type of extreme action can be taken.
A new lawsuit has been filed against the owners of a golf course near Phoenix. Two residents of Ahwatukee Foothills filed the suit in an effort to receive a court injunction requiring restoration of the land to its former condition.
Given the lucrative nature of real estate in general -- and Arizona in particular -- many people are trying to get involved in it as owners, developers or by working in construction. That lends itself to the creation of jobs and income for many. It also sets the stage for the possibility of a real estate dispute. Knowing the various ins and outs of the real estate industry can help a person who's getting involved in it, but nothing beats having the assistance of a fully qualified and experienced attorney to avoid legal mishaps when doing business with others.
Adverse possession is a process through which a trespasser openly and exclusively inhabits another individual's abandoned or neglected property under a claim of right and, if the trespasser remains on that land for a consecutive period of time, he or she acquires legal title to that property. Depending on the circumstances, other conditions must also be met before title can be obtained, and they vary depending on the state.
Real estate law is complex and ever-changing. Bills are constantly being amended, with new provisions being added to existing laws and the nature of certain laws being changed altogether. Keeping up with the fluid, ever-shifting landscape of real estate law can be challenging. However, it is often necessary for those who hope to avoid a real estate dispute or circumvent foreclosure to be aware of these changing laws.
It is not always easy to navigate the Arizona housing market. Whether someone is acquiring land, investing in a commercial development, looking to stave off foreclosure, or is in the middle of real estate litigation or a property dispute, there are likely going to be complex laws involved. Some of these issues can be resolved in a DIY way, but not many. Much that involves real estate law often requires legal expertise.