Real Estate Law

Real estate law, also known as property law, is a branch of civil law that governs the rights to possess, use, and enjoy land and the permanent structures attached to it, such as houses and buildings.

Real estate brokerage law governs the activities of real estate agents and brokers. It includes licensing requirements, fiduciary duties to clients, and regulations governing real estate transactions.

Zoning laws are regulations enacted by local governments to control land use and development within specific areas or zones. They determine how properties in those zones can be used, such as residential, commercial, industrial, or agricultural purposes.

A deed is a legal document that transfers ownership of real property from one party (the grantor) to another (the grantee). It typically includes a description of the property, the names of the parties involved, and the granting party's signature.

Both a mortgage and a deed of trust are used to secure a loan for the purchase of real estate. The main difference is in the parties involved. A mortgage involves two parties: the borrower and the lender. In contrast, a deed of trust involves three parties: the borrower, the lender, and a neutral third party known as the trustee.

A closing statement, also known as a settlement statement or HUD-1 (in the United States), is a document prepared for a real estate closing that outlines all the financial transactions related to the purchase or sale of a property. It details the costs and payments made by both the buyer and the seller.