Owning property may feel like more of a privilege, as it takes time and money to obtain real property; however, the ownership of real estate is a right. Residents in Tennessee have the right to life, liberty and property without unreasonable government interference.
It can take years for a Tennessee family to pull together enough money to buy their own house. Owning a home comes with many responsibilities, but before a person can call a residence their own, they must find a way to pay for it, negotiate the purchase and close on the deal. Getting to closing can take a long time, and unfortunately, there are a number of problems that can come up that can derail a family's purchase of a home.
The basis for a government taking is found in the Fifth Amendment to the United States Constitution. Tennessee residents may know it as the "Takings Clause." This clause in the Bill of Rights ensures that private citizens cannot have their land taken from them by the government without also receiving just compensation for their losses.
One of the biggest investments that a Jackson resident makes during their lifetime is buying a home. When they buy a lot on which to build their dream home or acquire land where they plan to erect the building for their business, they may take on a mortgage or other significant loan that must be paid back. To this end, ensuring that property owners understand their rights and responsibilities regarding their land is imperative to protecting their ownership interests.
A Tennessee resident may save money for much of their life to purchase a parcel of property. For many, owning property is a major life goal, a financial investment, and an opportunity to have something of value to pass on to their kids. A lot of planning can go into the property buying process, and when individuals who hope to buy property decide to move forward with their plans, they may wish to consult with real estate attorneys.
It is commonly held that a person cannot get something for nothing. The idea behind this concept is that everything has a cost - from what one gives in their personal relationships to what they literally pay when they choose to purchase a consumer good. All across Tennessee individuals make transactional decisions when they choose how to spend their time, energy and incomes.
Zoning is a complex real estate topic that can have serious repercussions on how individuals may use the land that they purchase. In Jackson and communities all throughout Tennessee, property owners' rights are impacted by the zoning regulations that attach to their parcels. Although this post will provide a general overview of what zoning is, it will not provide its readers with any legal advice. Consultation with an attorney should sought by anyone with case-specific questions.
Landlords in Jackson who want to evict a tenant cannot simply kick the tenant off their property. There is a legal eviction process that must be followed. Madison County is subject to the Uniform Residential Landlord and Tenant Act, which dictates how a tenant must be notified of the eviction, among other requirements. These requirements must be met for the eviction to be lawful.
Buying a home is exciting, especially for first time homeowners. However, there are legal aspects to purchasing a home in Tennessee, including the execution of a real estate purchase contract. This is the contract that is drafted when the buyer makes an offer on the property they wish to purchase. The following are some provisions that homebuyers may want to make sure they include in their real estate purchase contract.
Landowners in Jackson may have heard of the phrase, "eminent domain," but they may not know exactly what it means. Under the law of eminent domain, the government can take private property for public use only if the property owner is given just compensation in return. The "Takings Clause" of the Fifth Amendment to the U.S. Constitution serves as the basis for the law of eminent domain.