| Real estate refers to land, whether it is | | | | landlord-tenant disputes, and handle other |
| used for residential, industrial or | | | | matters regarding the evaluation of property, |
| commercial purposes. Real estate has become a | | | | and disputes between architects, contractors |
| hot topic in Michigan after the state | | | | and engineers. Some of the laws in the real |
| legislature amended the constitution to | | | | estate domain include property laws, tenant |
| prohibit eminent domain seizures of property | | | | laws and construction acts.Some of the common |
| from private owners solely for the purpose of | | | | lawsuits regard foreclosure, a process in |
| transferring it to other private owners for | | | | which mortgaged property is sold off to pay |
| economic development or to increase tax | | | | the loan of the defaulting borrower. Equity |
| revenues. This negated an earlier court | | | | skimming is a scam exploiting the foreclosure |
| ruling.Real estate laws are enacted by the | | | | procedure, in which the scamster lures the |
| state and the department of Housing and Urban | | | | financially troubled property owner to deed |
| Development, so homebuyers can have a | | | | out the property, promises to pay the |
| hassle-free and fair buying process. Laws | | | | mortgage and later defaults on the mortgage |
| also regulate mortgage rates, and cover | | | | payment and allows a foreclosure procedure. |
| landlord-tenant issues and other commercial | | | | Other lawsuits are related to the ownership |
| transactions. Michigan has enacted laws to | | | | of the property and landlord-tenant |
| regulate the practice of real estate brokers, | | | | cases.Besides lawsuits, real estate lawyers |
| salespersons and appraisers. These are | | | | handle a broad array of real estate |
| approximately 4,500 appraisers, 20,000 | | | | transactions for developers, individuals and |
| brokers and 40,000 salespersons overseen by | | | | businesses. These include the drafting of |
| the Michigan state board.Real estate laws are | | | | deeds for property transfers, land contracts, |
| designed to prevent fraudulent behavior | | | | leases, construction contracts and mortgages. |
| during home-buying transactions, establish | | | | They help provide services in insuring |
| clear titles for properties, clarify | | | | properties. |