Author Archives: Staff Attorney

Welcome to the DeAngelis, McNamara & Cofone P.C. blog! As experienced real estate attorneys in Rhode Island, we understand that buying or selling property can be both an exciting and complex process. In this post, we’ll explore key considerations in real estate law that every buyer and seller should be aware of to ensure a smooth transaction.

Understanding Rhode Island Real Estate Law

Real estate transactions in Rhode Island are governed by a variety of state and local laws designed to protect the interests of both buyers and sellers. From contract formation to closing, each step of the process requires careful attention to detail to avoid potential legal pitfalls.

1. The Importance of a Purchase and Sale Agreement

The Purchase and Sale Agreement (P&S) is a critical document that outlines the terms and conditions of the property transaction. It includes details such as the purchase price, contingencies, closing date, and any special conditions agreed upon by the parties. Ensuring that this document is thoroughly reviewed and properly drafted can prevent future disputes and misunderstandings.

2. Title Search and Title Insurance

Conducting a title search is essential to verify that the seller has clear ownership of the property and that there are no liens, encumbrances, or title defects. Title insurance provides protection for buyers and lenders against any issues that may arise with the title after the purchase. This step is crucial to secure your investment and avoid unexpected legal challenges.

3. Disclosure Requirements

Rhode Island law requires sellers to disclose certain information about the property, including any known defects or issues that could affect its value or desirability. Failure to provide accurate disclosures can lead to legal consequences and costly disputes. Buyers should review these disclosures carefully and consider conducting a thorough home inspection.

4. Zoning and Land Use Regulations

Understanding local zoning and land use regulations is vital, especially if you have plans to modify or develop the property. These regulations determine how the property can be used and may impact your intended use. Consulting with a real estate attorney can help you navigate these rules and ensure compliance.

5. Financing and Mortgage Considerations

For most buyers, securing financing is a crucial step in the real estate transaction. It’s important to understand the terms of your mortgage, including interest rates, repayment schedules, and any potential penalties for early repayment. Working with a knowledgeable attorney can help you negotiate favorable terms and protect your interests.

6. The Closing Process

The closing process involves the finalization of the transaction, including the transfer of funds and the signing of all necessary documents. An attorney’s presence during closing ensures that all legal requirements are met and that the transaction proceeds smoothly. This step also includes the recording of the deed and the payment of any applicable taxes and fees.

Why Choose DeAngelis, McNamara & Cofone P.C.?

At DeAngelis, McNamara & Cofone P.C., our team of experienced real estate attorneys is dedicated to providing comprehensive legal support throughout your property transaction. We offer personalized attention, meticulous attention to detail, and a deep understanding of Rhode Island real estate law to ensure your transaction is handled with the utmost care.

Whether you are buying, selling, or investing in real estate, we are here to guide you every step of the way. Contact us today to schedule a consultation and learn how we can assist you with your real estate needs.

Welcome to the DeAngelis, McNamara & Cofone P.C. blog! Real estate transactions are significant investments, whether you’re buying, selling, or leasing property. While it might be tempting to navigate this complex process on your own, hiring a real estate attorney can provide invaluable benefits and protections. In this post, we’ll discuss why it’s essential to have a knowledgeable real estate attorney by your side in Rhode Island.

Expertise in Rhode Island Real Estate Law

Real estate transactions involve numerous legalities and regulations that can vary significantly from state to state. Rhode Island has specific laws and procedures governing real estate transactions, and a real estate attorney with local expertise can ensure compliance with all state and local regulations. At DeAngelis, McNamara & Cofone P.C., our attorneys have in-depth knowledge of Rhode Island real estate law and are well-versed in handling the nuances of property transactions in the state.

Thorough Review of Contracts and Documents

Real estate transactions involve a multitude of documents, including purchase agreements, mortgage contracts, title documents, and closing statements. A real estate attorney meticulously reviews these documents to ensure that all terms are fair, accurate, and in your best interest. They can identify any red flags or potential issues that may not be obvious to someone without legal training.

Negotiating and Drafting Agreements

A skilled real estate attorney can assist in negotiating terms and drafting agreements that protect your interests. Whether you are a buyer or a seller, having a legal professional who understands the intricacies of real estate contracts can help you secure favorable terms and avoid potential pitfalls. Attorneys at DeAngelis, McNamara & Cofone P.C. are experienced negotiators who can advocate on your behalf to achieve the best possible outcome.

Conducting Title Searches and Resolving Title Issues

One of the critical aspects of a real estate transaction is ensuring that the title to the property is clear and free of any encumbrances. A real estate attorney conducts a thorough title search to verify the legal ownership of the property and to identify any liens, claims, or defects. If any issues are discovered, the attorney can work to resolve them before the transaction proceeds, ensuring that you receive a clear and marketable title.

Ensuring a Smooth Closing Process

The closing process involves finalizing the transaction, transferring ownership, and signing numerous legal documents. A real estate attorney ensures that the closing process goes smoothly by coordinating with all parties involved, reviewing the closing documents, and addressing any last-minute issues. Their presence at the closing provides peace of mind that all legal requirements are met, and any unexpected complications are promptly addressed.

Protection Against Legal Risks and Disputes

Real estate transactions can sometimes lead to disputes or legal challenges, whether related to contract terms, property boundaries, or undisclosed defects. Having a real estate attorney on your side provides a layer of protection against these risks. If a dispute arises, your attorney can represent your interests and work toward a resolution, whether through negotiation, mediation, or litigation.

Why Choose DeAngelis, McNamara & Cofone P.C.?

At DeAngelis, McNamara & Cofone P.C., our experienced real estate attorneys are dedicated to providing comprehensive legal support throughout your property transaction. We offer personalized attention, meticulous attention to detail, and a deep understanding of Rhode Island real estate law. Our goal is to ensure that your transaction is handled with the utmost care and that your interests are fully protected.

Whether you are buying, selling, or investing in real estate in Rhode Island, trust DeAngelis, McNamara & Cofone P.C. to provide the expert legal guidance you need. Contact us today to schedule a consultation and learn how we can assist with your real estate needs.

Welcome to the DeAngelis, McNamara & Cofone P.C. blog! As trusted real estate attorneys in Rhode Island, we aim to provide valuable insights into various aspects of real estate transactions. In this post, we will explore the importance of real estate title searches and what you need to know to protect your property investment.

What is a Title Search?

A title search is a detailed examination of public records related to a property to verify the legal ownership and identify any claims, liens, or other encumbrances that may affect the title. This process ensures that the seller has the legal right to transfer ownership and that the buyer will receive clear and marketable title to the property.

Why is a Title Search Important?

Conducting a title search is crucial for several reasons:

1. Verifying Ownership: A title search confirms that the seller is the legitimate owner of the property and has the right to sell it.
2. Identifying Liens and Encumbrances: It reveals any existing liens, such as mortgages, tax liens, or judgments, that must be addressed before the sale can proceed.
3. Uncovering Title Defects: It helps identify any title defects, such as errors in public records, undisclosed heirs, or boundary disputes, which could impact the property’s ownership.
4. Ensuring Clear Title: Ensuring the title is free of encumbrances protects the buyer from potential legal issues and financial losses in the future.

The Title Search Process

1. Initial Examination: The title search begins with a review of the property’s chain of title, which includes the history of ownership transfers, to ensure a clear and unbroken line of ownership.
2. Public Records Review: The search involves examining public records, including deeds, mortgages, liens, wills, and court records, to uncover any issues that may affect the title.
3. Title Report: The findings are compiled into a title report, which outlines any encumbrances, defects, or issues discovered during the search.
4. Addressing Issues: If any issues are identified, they must be resolved before the closing. This may involve paying off outstanding liens, correcting public records, or obtaining title insurance.

Title Insurance: An Added Layer of Protection

In addition to conducting a title search, obtaining title insurance provides an added layer of protection for both buyers and lenders. Title insurance protects against potential losses due to title defects, undiscovered liens, or other issues that may arise after the purchase. There are two types of title insurance:

• Owner’s Title Insurance: Protects the buyer’s interest in the property.
• Lender’s Title Insurance: Protects the lender’s interest in the property, usually required by mortgage lenders.

Common Title Issues

Several common issues can arise during a title search, including:

• Outstanding Mortgages: Previous owners may have unpaid mortgages that need to be resolved.
• Tax Liens: Unpaid property taxes can result in liens that must be settled before the sale.
• Judgments: Court judgments against the seller can create liens on the property.
• Easements: Rights granted to others for access or use of the property can affect ownership and use.
• Boundary Disputes: Conflicting property descriptions or surveys can lead to disputes over property boundaries.

Why Choose DeAngelis, McNamara & Cofone P.C.?

At DeAngelis, McNamara & Cofone P.C., our experienced real estate attorneys are dedicated to ensuring a smooth and secure property transaction. We provide comprehensive title search services, identify potential issues, and work diligently to resolve them. Our goal is to protect your investment and provide peace of mind throughout the process.

Whether you are buying or selling property in Rhode Island, trust DeAngelis, McNamara & Cofone P.C. to handle your title search with the highest level of expertise and care. Contact us today to schedule a consultation and learn how we can assist with your real estate needs.