Residential real estate contracts can be filled with massive amounts of confusing boilerplate terms that mean very little to nervous home buyers. Most Florida home buyers want to get through the purchase process as quickly as possible so that they may close on their properties and begin moving into their new residences. However, before they sign on the dotted lines and commit themselves to buying their intended homes, they should fully understand all of the covenants, conditions, and restrictions that are placed on the properties.
The Supreme Court might hear a case that could have major consequences for the power of eminent domain.
Not everyone will have to deal with the sometime difficult process of locating and renting or purchasing a commercial property. While many Florida residents will buy residential homes at some point in their lifetimes, not everyone will take on the responsibility of needing a commercial space out of which they may run a business. When they do, however, they may find that the considerations they must work through are very different than those that apply to finding and acquiring residential properties.
There is a lot of land in Florida and some of it is owned by private individuals and entities and some of it is owned by various governmental agencies. Private owners of land have many rights and generally no one can take the property from them unless they agree to either sell or transfer the property to another person or entity. However, there are a couple exceptions to that rule and one of them is that the government can take all or portions of private property to use for public use through eminent domain.
Property ownership is a goal of many Florida residents, and while some individuals hope to buy their own homes, others aggressively pursue commercial real estate opportunities to grow their wealth. Buying and selling real estate is a big business in the state, and in order to successfully negotiate the purchase of a property, a person must work with the seller to find terms that are agreeable to both parties. As readers can expect, problems are not uncommon during these negotiations.
Most people are somewhat familiar with the legal concept of condemnation.
Anyone who has bought or sold a home in Florida knows that the contracts that govern the sales can be incredibly long. Real estate contracts contain many terms that bind the parties to certain actions and provide them with specific remedies if the other party breaches the agreement. Included in those terms are contingencies and this post will discuss those in more detail.