The Basics of Real Estate Law and How it Affects You

Before we discuss when you need to speak with a real estate lawyer you should have an understanding of the basics of real estate law and how they affect you. Real estate laws cover things like terms, conditions, scenarios and your obligations when entering a deal involving land or buildings.  This can include everything from farms, homes, apartment complexes or office buildings.  They include the sale or purchase along with leasing of land or buildings and real estate laws were put into place to protect both parties ain any agreement.

Common Situations

The most common situations where real estate law will affect you are buying/selling your property, lease agreements, mortgages, closing home sales, foreclosures and landlord-tenant agreements.  All of these situations are important and in many cases there is a great deal of money involved in the transaction.  You need someone on your side that understands all of the details involved in these transactions and can help you understand them so you can make the right decisions.  Let’s look at some of these cases and how they can impact you.

Buying/Selling Real Estate

At some point in our lives we buy a house and you need to know what your rights are as a buyer and what the responsibilities of the seller are according to the law.  A real estate attorney who understands real estate law can inform you of all of this and keep the transaction free of stress and avoid any future litigation.  The real estate lawyer can ensure that you have proper documentation every step of the way should any legal actions arise in the future.  Both parties will need to agree to the terms and conditions laid out in the sale and attorneys for both parties are there to ensure that the agreement is adhered to.  Here are some things that may come up during a sale of property.

Leasing

If you own a business and you are looking for retail or office space, chances are you will lease before you buy a building.  Having a real estate lawyer on your team will help ensure that the transaction goes smoothly.  That the right zoning is there for your type of business and that you can use the property in a manner that you need to run your business.  Your attorney can also help you avoid lawsuits on commercial property you own.

Real estate law is far more complicated that most people think, the average American only uses the services of a real estate lawyer when they are buying or selling a home.  Business owners will rely more often on the services of a real estate lawyer but in either case real estate law isn’t something you want to tackle on your own.

What Exactly Do Real Estate Lawyers Do?

When it comes to buying or selling property that’s when most people have to use the services of a real estate lawyer, but real estate law is more than just buying or selling a home.  Real estate law can be as simple as selling your primary home or extremely complicated leasing agreements.  So what exactly to real estate lawyers do?  Let’s have a look at some of the legal issue that they handle.

Purchases and Sales

This is the most common situation where you will come into contact with a real estate lawyer, when you are buying or selling your home.  An attorney will provide services to sellers, buyers or the broker during a real estate transaction.  They can do more than title searches they can also help you through the entire negotiating  process when you are buying a home, buying land, an office building or an apartment complex.  They can also let you know of any potential tax issues surrounding a real estate deal.

Litigation

Unfortunately not all disputes can be solved in a civilized manner and litigation happens.  However litigation in real estate law covers more than just law suits, it can also cover restructuring of debt, loans against property and recovery of assets during a default.

Commercial Leases

Commercial leases can become very complicated and you’re best served working with a real estate lawyer before signing a commercial lease.  This type of transaction can include office, industrial, warehouse and leverage leases just to name a few.

Titles

A real estate lawyer can help you with issues you may have to look at before agreeing to a deal, particularly in regards to titles.  This could be advice on your rights and responsibilities when it comes to legal access to roads, they can evaluate documents pertaining to your property.  The can help you find the current owners, if there are liens on the property and what the taxes are, are there development interests and are there any encroachments.

Disputes with Your Real Estate Agent

Disputes between clients and realtors happen more often than it should and these are some of the most common real estate issues attorneys deal with.  A good attorney can help resolve this dispute in your favor.

Finding the Right Attorney

There are dozens of real estate attorneys in your city so you will have to filter through them to find the right lawyer for your situation.  Check with friends and colleagues for recommendations and you can also check into review sites, the number of cases the attorney has won along with testimonials from previous clients.  Take into consideration how long they have been practicing as well.