Real estate is one of the main reasons that legal systems exist in the first place. Keeping tabs on which properties belong to particular people and organizations is important in dealing with taxation, boundary disputes, usage rights, and even fraud. With so much at stake, it's wise to hire a real estate attorney to help you handle any of these issues.
Title Searches
One of the most basic tools that real estate attorney services providers use is the title search. Every county in the U.S. maintains a registry of the properties within its boundaries. This registry includes information about many details, including changes in the property's lines, lists of previous owners, and even major land shifts due to things like floods, earthquakes, and excavation.
Among the biggest details included in the registry is a list of liens against the property. These are claims levied against the property by creditors. A lien doesn't necessarily mean a landowner is in default. Instead, it simply is a marker letting the county know the property has been offered up as collateral or was flagged in something like a tax court or bankruptcy proceeding. You don't want other parties to have a claim to property you're buying, so a title search is essential.
Misrepresentations
Property sellers have an obligation to disclose known issues with a location. This can include some odd things, such as claims that a house is haunted. It also includes more basic concerns, such as whether there are problems with the foundation or the roof. Similarly, known issues with the ground, such as mine subsidence, also have to be disclosed prior to sale.
If you're a seller, it's smart to have a real estate attorney review any disclosures or listings you make before putting a property on the market. Buyers should also have a lawyer review disclosures to see if there might be anything amiss.
Transfer Documents
A lot of paperwork goes into moving a property from one owner to another. These documents can include a lot of details, including what financial conditions have to be met, when the keys will be handed over, and who pays certain fees.
The transfer process is one of the most targeted parts of the process for fraud. Even if you're extremely comfortable with the other party, it's best to have a real estate attorney services firm like Souders Law Group approach the situation with an eye toward fraud. Misrepresentations, intentional or not, need to be before you execute a deal.
Share21 December 2019
Just as there are laws to protect us on the roads, there are laws to protect our families. Whether you are fighting for the right to see your children, or are in the beginning stages of a divorce, a lawyer can help. There are many laws and stipulations that can have a serious impact on the outcome of any family legal situation. Having a lawyer working at your side to get through a difficult time is the only way to ensure that your rights are fully protected. On this site, you will learn about some of the family laws that could be impacting your life today.