What is residential real estate law?

Residential real estate law is the law concerning the ownership, sale, and leasing of residential property in New York. Residential real estate law includes the laws and regulations governing sale, financing, insurance, and taxes of a residential property. This includes items such as the deed of sale, home inspections, escrow accounts, and title insurance. In New York, the laws are found in the Real Property Actions and Proceedings Law and in the Real Property Law. The purpose of residential real estate law is to protect the rights of all parties involved in a real estate transaction, both buyers and sellers. It sets out the rules that must be followed in order to ensure the fairness of the transaction. For example, the law requires that both parties be informed of all terms and conditions of the transaction and that any disputes be resolved in a timely manner. It also regulates the methods of payment and closing documents used during the transaction. Residential real estate law also includes laws concerning tenant and landlord relationships. These include the rights and responsibilities of renters with regards to their tenancy, as well as the rights of landlords to evict tenants. It regulates how rent is to be paid, how much advanced notice must be given before eviction, and how disputes between landlord and tenant should be settled. In summary, residential real estate law in New York is the collection of laws and regulations that protect the rights of all parties in a real estate sale or rental situation. It establishes the rules for transaction completion, outlines the rights of buyers and sellers, and provides protection for tenants and landlords. The purpose of the law is to ensure fairness and protect all involved.

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What is residential real estate law?

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