A company recently expressed renewed interest in building a luxury residential development in California. However, it has received resistance from the council of the city in which it wishes to build, as the development would be built on an area considered to be environmentally sensitive. The company, therefore, recently decided to file a legal claim against the municipality. If people in Los Angeles or other parts of the Golden State are unable to resolve a real estate dispute on their own, it is within their rights to take legal action.
The real estate buying and selling process can be complicated for a wide range of reasons in Los Angeles. One common reason for a real estate dispute is a seller's failure to disclose a defect in his or her property. A seller is obligated to disclose any potential problem to prospective purchasers that may impact the property's value.
Real estate is a complex area for both a home seller and buyer, but it can be particularly challenging for the buyer. One area in which a real estate dispute may surface in Los Angeles or other parts of California involves construction defects. Typically, these cases are based on contracts between developers and homeowners.
There is always a risk when it comes to real estate investing. Unknown issues can crop up which result in money down the drain. The goal is to minimize these risks as best you can to get the most profit. If you keep these three tips in mind while searching for your next real estate investment then you will be on the right track.
Purchasing a house in Los Angeles is a complicated and lengthy process. A majority of used homes feature some items requiring upgrading or replacement -- for instance, rusted pipes or outdated wiring. However, in general, the seller has a duty to disclose any major defects in the house, and if this is not done, a real estate dispute may ensue.
A man in California who purchased a mansion in cash was under the impression that the home was 15,000 square feet in size. However, a couple of years later, he discovered that the home's square footage was actually listed as being under 10,000 in records for the home. That is when he sued the agent of the seller as well as the brokerage firm. California's Supreme Court in this real estate dispute recently ruled unanimously in the plaintiff's favor, with the outcome of this legal case having implications for both homebuyers and real estate agents in Los Angeles and elsewhere.
Voters in Los Angeles have approved a new measure that imposes new requirements on certain residential development projects. Measure JJJ applies to projects where builders are seeking zoning changes, such as constructing more units than allowed or in a location where building currently isn't allowed.
A real estate attorney can ensure that the provisions in your real estate contract will protect you. You can also have a claims strategy designed that mitigates losses and maximizes your ability to get insurance coverage in the future, even in a challenging market. Unfortunately, not all real estate transactions go smoothly. If a real estate dispute occurs in Los Angeles, the right legal assistance can help you navigate the litigation process.
Under California law, real estate agents are obligated to disclose every known material fact that may affect the choice of a buyer. This same requirement applies to sellers of residential real estate. If these parties fail to abide by the law, this is grounds for real estate litigation in Los Angeles.
The buying and selling of private and commercial properties is an integral part of the economy in Los Angeles and throughout California. Regardless if they are investors looking to improve and re-sell, average families searching for a dream home, or business owners scouting out the perfect locations for their companies, the ebb and flow of the real estate market affects many people in various ways. When a real estate dispute arises, litigation is sometimes the only way to successfully resolve the issue.