Buying or Selling a Home
Purchase agreements must be in writing. Some purchase agreements are created by real estate agencies, other by title companies, and yet others by attorneys. Before a purchase agreement is signed, the buyer must be provided with several disclosures about the status of the home. A purchase agreement might be voidable if there are frauds within the disclosures. After the purchase agreement is completed, a title search must be conducted to verify the home can be sold by the seller to the purchaser. Clouds on titles are when unexpected liens or other persons claim to have an interest in the property. Assuming the title comes back without any problems, a closing is scheduled where documents are signed by the both the purchaser and seller, including mortgage documents and a deed.
Commercial leases have none of the same protections that a residential lease has. Furthermore, they often run for more than a year, which requires careful crafting and reading of the document to know the rights of all concerned parties.
A deed is a means of transferring a piece of property. Often people will need Quit Claim Deeds to transfer property without a formal sale. Such common needs for Quit Claim deeds involve gifts, estate planning or transfers to one spouse or the other as part of a divorce judgment.
Leases do not have to be in writing. However, those that are not fall prey to the same problems that any contract has when it is not in writing. Nobody can prove what the terms are without a lengthy course of dealing or several witnesses. Whether a lease is in writing or not, all tenants are guaranteed the rights of quiet enjoyment of the leased property and the right for the property to be fit for residential purposes. Landlords cannot come into the leased property unannounced or without other legal authority. Furthermore, landlords may only take a security deposit that is one and a half times the amount of monthly rent or less. This does not include non-refundable cleaning fees or pet fees.
Real Estate Attorney Ypsilanti MI
Primarily serving the cities of Ypsilanti, Ann Arbor, and the counties of Wayne and Washtenaw, although we extend our legal services throughout the State of Michigan.
If you are looking for a real estate attorney Ypsilanti MI, call Wolverine Law today at 734.481.8911 or contact us to set up an appointment for a free consultation.