Real Estate

It is not legally required, but it is worthwhile where anything is unusual. Many residential transactions close with a real estate agent and a title company handling the process.

Counsel earns its cost when there is a title exception, a survey problem, an encroachment, an estate or divorce in the chain of title, a land contract, or a dispute over disclosures or repairs. The time to involve a lawyer is before the inspection and title objection deadlines expire, because that is when there is still leverage.

What the title insurer will and will not cover. The exceptions are the important part: easements, restrictive covenants, mineral reservations, liens, and anything else that limits ownership.

These survive closing and bind future owners. Reading them before the objection deadline is what allows a buyer to require a cure, negotiate the price, or walk away. After closing, options narrow considerably.

The terms that carry money and flexibility. How operating expenses are calculated, capped, and audited. Who maintains the roof, structure, and HVAC. Assignment and subletting rights. What happens if you need more space or need to exit early. Whether a personal guaranty is required and, if so, whether it can be limited in time or amount.

Commercial leases are negotiable to a degree tenants often do not realize, and a landlord's standard form is a starting position rather than a fixed one.

That depends on local zoning, and it should be confirmed before purchase. Municipalities control permitted uses through their zoning ordinance, and a use that is permitted by right in one community may require a variance or rezoning next door.

Making the purchase agreement contingent on confirming the intended use is a straightforward protection. Discovering after closing that the use requires approval that may not be granted is a considerably worse position.

Possibly, though it depends on what was known, what was asked, and what the contract says. Michigan requires a seller's disclosure statement in most residential transactions, and a seller who makes a false statement about a known condition may face liability.

The analysis is complicated by inspection contingencies and any as-is language in the agreement. What the buyer could have discovered through a reasonable inspection matters, which is why documenting the condition and the representations early is important.

It is a claim against the property securing payment for labor or materials furnished to improve it. Michigan's construction lien statute gives contractors, subcontractors, and suppliers this remedy, and it is a real encumbrance on title.

The statute is strict about notice and deadlines on both sides. A claimant who misses a required notice can lose the lien entirely, and an owner who does not obtain the right waivers can pay twice for the same work. Timing is not a technicality here; it is most of the statute.

They are prorated between buyer and seller on the settlement statement according to the purchase agreement.

Michigan buyers should also understand what happens after closing: a transfer of ownership generally causes the property's taxable value to uncap, which can raise the tax bill meaningfully above what the seller was paying. Budgeting from the seller's current tax amount is a common and costly mistake.