Purchasing real estate in Tennessee, whether it is your first home, an investment property or commercial property, is essentially a legal transaction. One part of the transaction is the execution of a purchase contract. The following are some provisions that can be included in a well-rounded purchase contract.
Sometimes, a tenant violates their lease with the landlord, forcing the landlord to take legal action. Madison County is subject to the Uniform Residential Landlord and Tenant Act. This act lays out the process landlords in Jackson must follow to evict a tenant.
Sometimes the United States government needs to take a person's land or other private property so the property can be used for a public purpose. In exchange for doing so, the government will pay the property owner just compensation. The government's power to take land is called the power of eminent domain, and it can be found in the Fifth Amendment of the U.S. Constitution. It is important for property owners in Tennessee and elsewhere to have a basic understanding of this power and what their rights are when faced with it.
College towns are filling up with students as summer ends and the new school year begins. However, some college students in Tennessee may be looking for a new place to live due to the pending foreclosure of a large apartment complex.
Many people in Tennessee who rent their home have a basic understanding of the obligations their landlord has to them, as well as their rights as a tenant. However, tenants in Tennessee also have obligations to their landlords that are equally important.
Many people in Tennessee only have a limited understanding of the world of real estate. Maybe they have rented an apartment or purchased a home, but other than that have little real estate experience. However, the realm of real estate issues is much greater than that. It is a complex area of law that often necessitates professional assistance to navigate.
Property owners in Jackson may take pride in their homes and land. Some people make a living off of their land or property, for example, through farming or having a business they own on their property. A person's private land and the buildings on it may be the most valuable asset they own. However, does the government have any right to take a person's private land?
Renting out apartments can be a lucrative endeavor for many people in Tennessee. But, just like any other business dealing, this endeavor relies on contracts -- specifically leases. Landlords depend on their tenants to pay rent on time and to possess the premises. Sometimes, however, rent goes unpaid and the tenants cannot be found. Tennessee law addresses what rights landlords have in such situations.
"House-flipping" has been a major trend over the past few years. House-flipping is the process in which a person buys an inexpensive home, renovates it and then sells it for a substantially higher price than what they bought it for. Television shows have glamorized the process, making it seem easy and accessible to just about anyone. However, some Tennessee residents looking to "flip" their next home may find that inexpensive homes are not so easy to find these days and they are not making the money they once did on flips.
While oftentimes real estate growth is good for a city's economic development, sometimes issues regarding the development of property arise. Take, for example, a situation in Hendersonville, Tennessee, where some members of the community are opposed to the development of green space in their area.