State-Specific Real Property Laws: State-level legislation governing real property transactions, including specific requirements for land contracts and recording procedures. Each state maintains its own distinct set of real property laws.
Statute of Frauds: Legal principle requiring real estate contracts to be in writing, with proper signatures and essential terms clearly stated to be legally enforceable.
Truth in Lending Act (TILA): Federal law requiring specific disclosures in seller financing arrangements, including APR disclosures and detailed payment terms and schedules.
Real Estate Settlement Procedures Act (RESPA): Federal legislation governing real estate settlement processes, including mandatory disclosures, settlement requirements, and prohibited practices in real estate transactions.
State Contract Laws: General contract law principles at the state level, covering contract formation requirements, consideration rules, and capacity to contract.
Local Zoning Laws and Regulations: Municipal and local regulations governing property use, including zoning restrictions, building codes, and local ordinances affecting property utilization.
Tax Laws: Federal, state, and local tax regulations affecting property transactions, including property tax obligations, transfer taxes, and income tax implications.
Recording Acts: Laws governing the recording of real estate documents, including notice requirements, priority rules, and proper recording procedures at county/state level.
