Frequently Asked Questions about Real Estate Law

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Frequently Asked Questions about Real Estate Law
Q: What is a Mechanicвs Lien? A: A mechanicвs lien is a security interest available to contractors, engineers, architects, and other entities and individuals that provide materials or services for work on real property. Q: What Can I Do About an Unresolved Mechanicвs Lien in Utah? A: As a construction company or other commercial entity, enforcing a mechanicвs lien requires foreclosure through the Utah court system.
For mechanicвs liens on residential properties, along with filing a complaint the lienholder must make certain specific disclosures to the homeowner in order to preserve its rights. Q: What Can I Do About an Encumbrance Unaccounted for in My Purchase Agreement? A: This can be a tricky situation. With encumbrances such as mechanicвs liens, mortgages, easements, and rights of way, both you and the party benefitted by the encumbrance are going to feel equally entitled to the benefits of your respective bargains.
Likewise, with encroachments and deed restrictions, it is unlikely that you will obtain a favorable resolution without a fight. Regardless of whether your goal is to keep the property or attempt to void the purchase agreement, the best way to approach this issue is to speak with a qualified real estate attorney who can assess your situation and carry out a plan to protect and enforce your rights. Q: What Happens if a Contingency in a Real Estate Purchase Agreement Goes Unfulfilled? A: Generally, if a contingency in a real estate purchase agreement goes unfulfilled, the buyer has the right to rescind the contract and back out of the purchase.
However, both (i) what constitutes unfulfillment, and (ii) what rights the purchaser has if a contingency goes unfulfilled, must be determined with reference to the specific language in the purchase agreement. Q: What Are the Legal Remedies for Failure to Disclose Property Defects? A: Here too, the answer will depend in part on the terms of the purchase agreement. If a seller knowingly fails to disclose property defects and does not waive warranties on the property, the buyer may have a claim for fraudulent inducement and the right to void the contract.
Q: What Are the Legal Remedies for Violation of a Lease Agreement? A: In the commercial lease environment, the remedy for breach of a lease is generally going to be to seek damages for the amount of the loss incurred. If a tenant has committed a significant breach (e. g. , non-payment of rent or abandonment of the property), the landlord may also be able to commence eviction proceedings through the Utah court system. The same generally holds true with residential leases as well, though special laws provide certain protections for most residential tenants.
For More Information, Contact Greg Smith Associates To schedule a free consultation with one of our experienced real estate lawyers, Greg Smith Associates today.
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