Renting or owning property can be extremely stressful if you’re not in an ideal situation. Whether it’s an issue with your finances, the area where you’re living, or the property owner, things sometimes don’t work out and major problems can arise.

Real estate law varies from state to state, and it’s extremely important to be knowledgeable on your state’s laws. Knowing what and what not to do when it comes to renting or owning property can save you from stressful situations down the road.

Although you should have some knowledge about the laws regarding your property, as long as you are in contact with professionals, it shouldn’t be an issue. Knowing when to contact a real estate law firm that can get you in touch with experienced and professional real estate lawyers can save you from renting or owning troubles.

Here are some basic tips and information regarding property law that can potentially benefit you in the future.

• Eviction — If you’re in the middle of an eviction and it is heading to court, a judge will decide the eviction case within an average of 20 days after you or the landlord originally filed the court request.

 

• Foreclosure — In 2013, one out of every 96 homes reported a foreclosure filing. That number is up to one out of every 200 homes now. There are strict laws in place throughout each state regarding foreclosures. The proper amount of notice and opportunities to pay must be given to the tenant before the property can be foreclosed upon.

 

• Purchasing — Once you have entered into a real estate contract for purchase, the amount of time it takes to close will depend on the specifics of that contract. A closing date, however, should be specified or at least an expected number of days before closing. Typically, the closing process takes about four to 10 weeks.

Porperty renting or ownership can be stressful if you’re in a tough situation. All you can ask for is fair treatment and that’s why you should know enough information, know your rights, and know who to get in touch with when things get more complicated.

If you’re in need of legal counsel regarding property law, contact us today!