A real estate transaction is the process of transferring ownership of property from one party to another. It may involve commercial or residential property and may range in value depending on the property's worth.
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.
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.
A title is a document that shows evidence of the right or ownership of real property. Suppose you are purchasing a home or commercial property. It's 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.
Disputes are possible in any legal matter. Suppose you are dealing with a real estate dispute, such as a property defect or boundary dispute. In that case, you can 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 an out-of-court agreement.
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.
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 farmland.
Zoning and land use are matters to be considered by a landowner, buyer, or developer. Suppose you wish to add to your home, purchase commercial property, or build on land that you have purchased. In that case, you will have to go through the proper channels and comply with various zoning and land use regulations as set forth by the local government. Noncompliance with these regulations can spell disaster for a development project, business, or home renovation. Disputes related to zoning and land use can also be complex, leading to financial losses. As such, it is beneficial to work with a real estate lawyer who can properly advise you on these matters and who can represent your interests in the event that a problem arises.
If you have a question that isn’t answered above, call Stephanie Whidden today at (845) 338-6500 to discuss.
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