TOP QUESTIONS
What is a real estate transaction?
A real estate transaction is described as the legal process of transferring ownership of property from one party to another. Real estate transactions may involve commercial or residential property and may range in value depending on the worth of the property.
How can an attorney help with a real estate purchase or sale?
Purchasing or selling a home or commercial property is a complex transaction. It is also most likely one of the largest financial transactions you may deal with in your lifetime, making it all the more important to ensure that your interests are properly protected. A real estate attorney can help by guiding you through every step of the transaction, conducting a deed and title review, reviewing and explaining all documents before you sign and otherwise protecting your legal rights. This can facilitate a faster and more beneficial transaction while avoiding costly, unnecessary delays or expenses.
What is a deed?
A deed is a legal document that transfers property from one party or parties to another. This is one of the most important documents associated with a real estate transaction.
Why is a title review important in a real estate transaction?
A title is a document that shows evidence of right or ownership of real property. If you are purchasing a home or commercial property, it is important to make sure the title is reviewed. The proper transfer of ownership will depend on whether the title is clear and can help you avoid future problems if you wish to sell the property at a later date.
ADDITIONAL INFO
When a real estate dispute arises, is litigation the only option?
Disputes are possible in any legal field, including real estate. If you are dealing with any type of real estate dispute, such as a property defect or boundary dispute, you may be able to resolve the matter outside of the courtroom through negotiation. This will usually be an attorney’s first course of action, with litigation only considered if it is impossible to reach and out-of-court agreement.
What are some situations that may result in real estate litigation?
Real estate litigation may arise from various issues. Some possibilities include: boundary disputes, homeowners association disputes, construction defects and delays, property defects, breaches of contract and landlord-tenant disputes.
What is the difference between residential and commercial property?
Residential property is generally any structure or land intended for private housing. Commercial property, on the other hand, is used for business or industrial use. Some examples of residential property include single-family homes, townhouses and condominiums. Examples of commercial property include office buildings, parking garages, shopping malls, apartment buildings and farm land.