When two or more parties have an interest in a particular property, the likelihood of real estate litigation in Broadway North Carolina arising increases. With rules in the industry and the economy constantly changing, there are several reasons why such real estate litigation in Broadway North Carolina may arise.
Acquisition and Development
Disputes may arise as properties are acquired and developed. For example, differences may emerge that pertain to a sale, development or option agreement. Additionally, there may be disputes if an area that was previously zoned for commercial purposes is rezoned for only residential purposes.
Real estate litigation may be pursued when there is a dispute regarding the title to a residential or commercial property. This may occur when the property line is in dispute or when a person is trying to seek more rights pursuant to a quiet title or adverse possession action. If a person’s enjoyment of his or her property is being disturbed, real estate litigation may cite nuisance as a cause of action.
The government may interfere with a person’s possessory interest in a property by exerting rights under eminent domain or by seeking condemnation of a property. This may require valuation of the fair market value of the property. The government may also require environmental audits of certain properties.
When a party is seeking to build his or her own property or make important renovations to the real estate, he or she wants to protect the property’s value. If there is a dispute with a contractor or subcontractor, real estate litigation may result. Liens may also be placed on the property by these parties. Sometimes these situations can be resolved through mediation or alternative dispute resolution.