Purchasing a property in Florida may be the inhaled dream of a grand chunk of Americans. Since our state is known for its variety of beaches, amusement parks, and beautiful homes for sale. In consequence, it is significantly important to learn about real estate laws in Florida.
Furthermore, certain legal issues could arise when buying or selling property in Florida as well. For example, your home could suffer damage due to circumstances beyond your control. These situations are troublesome if you are not educated on this state’s mandates. And the different types of real estate guidelines that exist in Florida.
To avoid unnecessary stress deriving from these matters, you’ll need to be represented by a real estate attorney. These trained professionals are prepared to assist individuals with any kind of complexity regarding their properties.
We kindly ask you to keep reading our article in order to learn about what real estate law in Florida is and the advantages of having a real estate attorney on your side.
What Is Real Estate Law?
Real estate is real property that covers land and any reparations to buildings, roads, fixtures, fences, structures, and more. In addition, individuals who acquire properties are given the title to ownership of the natural resources within the space such as water, trees, bushes, plantations, and minerals.
Real estate law covers an extensive area, which is regulated by federal and state guidelines, as well as common law.
The practice area of real estate focuses on several related legal issues including the following:
- Rights and interests in real property,
- Sales, purchases, and other transactions of real estate,
- Rental property and landlord issues,
- Tenants’, renters’, and homeowners’ rights in the property,
- Titles to real property,
- Settlement of claims against property rights,
- Property development,
- Zoning and land use,
- Agriculture-related situations,
- Home loans and foreclosures.
The Different Types of Real Estate
- Residential Real Estate: This type of real estate land utilized to live, purchase, sell, and rent. It also includes new construction and resale homes. Residential real estate includes single-family houses, condominiums, townhomes, high-value homes, vacation homes, and more.
- Commercial Real Estate: This category refers to land that used exclusively for business-related purposes or to offer a workspace instead of a living space. Most often, commercial real estate leased to tenants to perform income-generating activities. This type of real estate covers shopping centers, malls, medical and educational buildings, restaurants, hotels, resorts, and more.
- Industrial Real Estate: It is utilized for industrial activities such as production, assembly, manufacturing, warehousing, research, storage, and distribution. There are specific areas in each city designated to industrial properties depicted on a zoning map, which describe where these buildings can be constructed and operate. So that the activity does not disrupt businesses or residences that are present in the area.
- Land: This category refers to vacant land, working farms, and ranches. Developers purchase land, combine it with other properties and rezone it in hopes of increasing the value of these spaces.
Real Estate Law in Florida
- Florida Homestead Laws: These mandates protect elderly and disabled individuals from evictions and foreclosures. Florida homestead exemption prevents forced sales before or during death. With this law, you can protect the entire value of your property if you file for bankruptcy.
- Florida Lease and Rental Agreements: These laws set limits on security deposits and establish deadlines for their return. In addition, Florida lease and rental agreement regulations protect people from any abuse coming from their tenants.
- Florida Adverse Possession Laws: These defend people’s interests in remodeling their properties when they purchase ancient, dull, or damaged properties. Florida adverse possession laws require claimants to inhabit a given property for at least seven years either under “color of title” or payment of property taxes for seven years. “Color of the title” can be defined as the appearance of possessing title to personal or real property by some evidence, but there is either no title or vital defect in the title. In other words, the title becomes invalid.
- Florida’s Statute of Limitations: Establishes the amount of time that homeowners have given to file a claim or start a legal process. Most commonly, lawsuits are filed for personal injuries, damaged property, trespassers, and fraud. It is important to mention that in Florida, individuals have four years to file a lawsuit against trespassers and damaged personal property.
Benefits of Hiring a Real Estate Lawyer in Florida
Real estate attorneys can provide you with consultations, representation, and many other legal services that allow you to take part in property development and investment.
Real estate attorneys can also help you with the title search process. Title searches are crucial since they determine who you should do business with. For example, if the individual selling the land does not have the authority to conduct the business, the entire negotiation can be voided.
Real estate lawyers can represent you in disputes if there is any contract breach at the time of the negotiation. Furthermore, attorneys can assist you in the following manners:
- Claims concerning statutory schemes,
- Condominium disputes,
- Damage to property,
- Mortgage enforcement and foreclosure.
It’s Time to Hire a Real estate Lawyer!
This article is brought to you by the best real estate law firm in Florida. Remember, the key to success in buying a property in Florida is fully understanding real estate law in Florida. That is why you should not hesitate in hiring a real estate attorney. What are you waiting for? Contact one right now!