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The Pros and Cons Of Hiring A Real Estate Lawyer

Thursday, June 11th, 2009

You’re travelling in a foreign country and you get arrested for something that you didn’t even know was against the law. The potential fine is huge, more than you earn in 10 years. Would you represent yourself in front of judges who might not even speak your language? Not if you had any sense you wouldn’t. You’d probably hire a lawyer.

Let’s think about that. Most people are not willing to risk 10 years salary when they’re in front of the judge, yet those same people are willing to risk that same amount of money, or more, whenever they buy real estate in a foreign country.

What’s the risk? There are plenty.

Not being fully aware of the laws that affect the ownership of real estate for starters. In some cases, you’re not only subject to the laws of real estate ownership which affect any property owner in that country, but there may be special laws which affect only foreign owners as well as local laws which differ from jurisdiction to jurisdiction.

Perhaps you’re not an expert at reading the language that the purchase and sale agreement is written in. Maybe you’ll overlook terms or conditions that would be a deal-breaker if you were aware of their presence.

And then there are all of the considerations which affect any buyer whether they are a foreign national or not. Things like zoning or permitted use laws, neighborhood or condo association by-laws, environmental restrictions, tax issues, and all of the other little gremlins that can pop up and turn a great deal into a great deal of misery.

Those are the kinds of things that a Real Estate lawyer is trained to handle. It’s not good enough to have your family lawyer or corporate lawyer review the deal. If you want an iron-clad real estate purchase and sales agreement which addresses all of the unique and common issues that you face as a real estate buyer in a foreign country, then you need to hire a real estate lawyer who is licensed to practice in that country. Nothing else is “good enough”.

So, if the advantages of hiring a Real Estate lawyer are so obvious, what, if any are the disadvantages of using one for your foreign real estate transactions?

First, a Real Estate lawyer will add cost to the transaction because of his or her fees. While these costs are usually not excessive, they are a consideration.

If you are a seasoned buyer of real estate in a particular country then you may not need a Real Estate lawyer to guide you through the intricacies of property ownership.

Using a Real Estate lawyer may cause the deal to close at a later date due to his or her need to review and revise the purchase and sale agreement.

I’m not really sure, however, if these can be labeled as disadvantages considering the amount of money that you are about to invest in a deal where legal ramifications that pop up later could haunt you for life and drain all of the equity and more out of your foreign property.

If you find this information useful you should visit the site http://www.about-realestate.net where you will find lots of interesting articles related to this topic , all original and wrote by Dascar Daniel.

Understanding the Role of Your Real Estate Lawyer

Thursday, June 11th, 2009

Anyone purchasing real estate property should be acquainted with the responsibilities of their real estate lawyer. One particular responsibility for every real estate transaction is the obligation of the lawyer acting on behalf of the buyer to perform a search of title. The title search is necessary for a variety of reasons. To list a few, the lawyer discovers the name(s) of the property’s registered owner(s), the name of property’s current mortgage provider, the principal amount owing on the mortgage, and the date the mortgage will expire.

The title search is a critical step in the real estate transaction, and quite possibly the most important step taken toward ensuring the transaction runs smoothly. In the process of conducting the search, the lawyer can determine if legislation concerning the Planning Act has been contravened; non-compliance with this legislation is fatal to any intended transaction. The lawyer can also determine if there are any registered liens on the property. If registered liens are discovered, it is the responsibility of the lawyer to deal with them immediately in order to avoid the serious consequences that can result if they are not handled properly.

Time is the essence of title searching. By conducting a search in a timely fashion, the diligent lawyer is able to provide the lawyer acting on behalf of the seller with a letter of requisition regarding any outstanding issues associated with the property. This letter can be explained as a series of inquiries and requests, with which the seller must comply, excepting exemptions in accordance with the conditions of the sale, arising as a result of a proposed purchase.

When the seller’s solicitor receives the letter of requisition, the seller becomes obligated to resolve any issues that are detailed therein. In other words, this letter serves as a point from which communication begins between the legal representatives of the buyer and the seller to solve legal issues related to the property in question.

Once the title search is complete, the lawyer is in a much better position to provide an opinion of the property to the relevant parties, such as prospective lenders, who would rather secure their loan with a lawyer’s opinion of the property’s title before furnishing financing to the buyer, or insurance providers, for example, who require that the buyer’s lawyer is able to advise them of the state of the title to ensure the well-being of a title insurance policy before it is provided to the new owner(s).

This article has been published for educational purposes by the good folks with PropertySOLD Magazine. PropertySOLD combines the power of online and offline publishing to advertise FSBO real estate for its clients and puts a particular focus on educating people about selling privately. For more information about selling privately in Ontario, Canada, please visit our website, http://www.PropertySOLD.ca

Texas Real Property Law for Commercial Landlords

Thursday, June 11th, 2009

I have found that landlords generally face the same set of issues and have the same set of questions pertaining to their rights, duties and obligations as landlords under Texas law. The answers to these questions depend on whether residential tenants or commercial tenants are involved. Although commercial and residential property ownership and operation have some similarities, the differences are numerous and diverse enough to justify separate treatment for each area. This article is intended to discuss issues related to commercial property with commercial tenants only. This article is my attempt to create a quick and very general reference guide on the rights, duties and obligations of commercial landlords and operators under the Texas Property Code. It is by no means complete, but hopefully is informative enough to assist the reader in asking informed questions of legal counsel and thus be more efficient and economical while consulting legal counsel.

You should not take this article as legal advice, and I strongly urge you to seek competent legal advice for your specific situation. The Texas legislature updates and passes new laws relating to landlord/tenant issues on a regular basis. In addition, Texas courts regularly interpret these laws. Thus, the laws discussed in this article are in effect as of December 2005. I have not assumed any duty or obligation to update this article beyond this date.

I. Duty to Mitigate

If a tenant abandons the leased premises in breach of the lease, the landlord has the duty to mitigate (lessen) the damages that the landlord would experience as a result of the abandonment. Thus, the landlord should not let the premises lie vacant in hopes of being able to recover lost rents from the tenant. This duty to mitigate damages may not be waived by the tenant, so any provision in the lease that tries to waive this duty or exempt the landlord from liability is void.

II. Security Deposit

A security deposit is any advance of money, other than a rental application deposit or an advance payment of rent, that is intended primarily to secure performance under a lease.

III. Retention of Security Deposit

Before returning the security deposit, the landlord may deduct from the deposit damages or charges for which the tenant is obligated under the lease or resulting from a breach of the lease. However, normal wear and tear (does not include deterioration that results from negligence, carelessness, accident or abuse) may not be withheld from the security deposit.

If the landlord retains any portion of the security deposit, the landlord must refund the balance of the security deposit and give the tenant a written description and itemized list of all deductions. However, this description and itemized list is not required if the tenant owes rent and no controversy exists concerning the amount of rent owed. The refund and written description and itemized list of all deductions is not required until the tenant gives the landlord a written statement of the tenant’s forwarding address for the purpose of refunding the security deposit. However, failure to provide a forwarding address does not cause the tenant to forfeit its right to receive a refund or a description of deductions.

IV. Refund of Security Deposit

A landlord must refund the security deposit not later than the 60th day after the date the tenant surrenders the premises and provides notice of the tenant’s forwarding address.

V. Change of Landlord/Owner and the Security Deposit

The new owner or landlord of the leased premises is liable for the return of the security deposit starting from the date title to the leased premises is acquired, except where the new owner acquired the premises by foreclosure through a real estate mortgage. However, the former landlord or owner remains liable for the security deposit received while the person was the owner or landlord until the new owner delivers to the tenant a signed statement acknowledging that the new owner has received and is responsible for the tenant’s security deposit and specifying the exact dollar amount of the deposit.

VI. Liability of Landlord for Security Deposit

A landlord who in bad faith retains a security deposit is liable for an amount equal to the sum of $100, three times the portion of the security deposit wrongfully withheld, and the tenant’s reasonable attorneys fees incurred in a suit to recover the deposit. It is presumed that a landlord who fails to return a security deposit or to provide a written description and itemized list of deductions on or before the 60th day after the date the tenant surrenders possession is acting in bad faith.

VII. Preventing Access to Leased Premises

A landlord may not intentionally prevent a tenant from entering the leased premises except with permission of the court unless such prevention results from (i) bona fide repairs, construction or an emergency, (ii) removing the contents of the leased premises abandoned by a tenant or (iii) changing the door locks of a tenant who is delinquent in paying at least a part of the rent. The lease may alter this provision.

VIII. Changing Lock Due to Delinquent Payments

If a landlord changes the door lock due to delinquent rent payments, the landlord must place a written notice on the tenant’s front door stating the name and address or telephone number of the individual or company from which the new key may be obtained. The new key is only required to be provided during the tenant’s regular business hours and only if the tenant pays the delinquent rent. The lease may alter this provision.

IX. Landlord’s Removal of Property After Abandonment by the Tenant

A landlord may remove and store any property of a tenant that remains after the premises has been abandoned. The landlord may also dispose of the stored property if the tenant does not claim the property within 60 days after the date the property is stored. The landlord must deliver by certified mail to the tenant at the tenant’s last known address a notice stating that the landlord may dispose of the tenant’s property if the tenant does not claim the property within 60 days after the date the property is stored. A lease may alter this provision.

X. Abandonment by the Tenant

A tenant is presumed to have abandoned the premises if goods, equipment or other property, in a substantial enough amount to indicate a probable intent to abandon the premises, is being or has been removed from the premises and the removal is not within the normal course of the tenant’s business. The lease may alter this provision.

XI. Interruption of Utilities

If the tenant pays for utility services directly to the utilities companies, the landlord may not interrupt or cause the interruption of such services unless the interruption results from bona fide repairs, construction or an emergency. A lease may alter this provision.

XII. Removal of Doors, Windows, Locks, Hinges, Etc.

A landlord may not remove a door, window, attic hatchway, lock, hinge, hinge pin, doorknob or other mechanism connected to a door, window or attic hatchway cover from the leased premises. Additionally, a landlord may not remove furniture, fixtures or appliances furnished by the landlord from the leased premises. However, the landlord may remove these items for a bona fide repair or replacement, which must be promptly performed. A lease may alter this provision.

XIII. Landlord May Terminate Lease Due to Public Indecency Conviction of Tenant

A landlord may terminate a lease signed or renewed after June 15, 1981 if the tenant or occupant uses the property for an activity for which the tenant, occupant or any of their agent or employee is convicted of public indecency (prostitution, promotion of prostitution, display or distribution of obscene materials, sexual acts with persons under the age of 18, etc.) and such person has exhausted or abandoned all avenues of direct appeal from the conviction. Notice of termination must be by written notice within six months after the right to terminate arises. The landlord obtains the right to possess the property on the 10th day after the date of notice is given.

XIV. Notice Requirement Prior to Eviction

The landlord must give a tenant who defaults or holds over beyond the end of the term at least three day’s written notice to vacate the premises before the landlord files a forcible detainer suit, unless the parties contracted for a shorter or longer period of time in a written lease or agreement.

The notice to vacate must be given in person or by mail at the premises in question. If notice is delivered in person, it may be by personal delivery to the tenant or any person residing at the premises who is 16 years of age or older or personal delivery to the premises and affixing the notice to the inside of the main entry door. Notice by mail may be by regular mail, by registered mail or by certified mail, return receipt requested, to the premises in question. The notice period starts from the day on which the notice is delivered.

Copyright 2005, Tri Nguyen

Tri Nguyen practices primarily business, corporate and real estate law in Houston, Texas. He may be contacted by telephone at 713.513.4808 or e-mail at tri@trilawoffice.com.

Atlanta Real Estate Lawyers

Thursday, June 11th, 2009

Search on the Internet and you will come across the names of many lawyers and law firms who can represent you or your company on matters related to real estate, land disputes or property claims. In fact, you will also find that many firms offer free consultation. This gives you ample opportunity to study your options carefully before settling for a lawyer who can do justice to your cases.

You will come across many trained and competent lawyers, but their skill will vary. When buying property, you may feel that a real estate agent is good enough, but a real estate lawyer can provide you services that go beyond purchasing decisions. This is especially true when there is a property dispute. Considering the amount of the investment involved, you will need the services of an extremely competent person to review the facts and understand clearly where you stand. According to the laws of the state, he will build a watertight case, handle the paperwork, court procedures and work for the best possible settlement. There is a lot of investment involved in real estate, and you need to ensure the right person for the job. Don’t just settle for any lawyer that your friend suggests. The lawyer may be nice and well meaning, but you need to focus on the person’s track record and reputation. You must ensure that the lawyer has specific skills dealing with real estate cases.

Also, keep in mind that an expensive office and a flashy car is no guarantee that the lawyer is competent. Your lawyer should have the patience to listen to you, provide personalized services, have a thorough knowledge of the law, and effective communication skills to put his or her point across.

Atlanta real estate lawyers can be found through a referral service provided by Georgia State Bar Association, the county bar association and other professional law associations. Information is also available in the yellow pages or through search engines like Google and Yahoo on the Internet. You can check advertisements of law firms in magazines and newspapers. Friends and family members are also excellent sources of information.

Atlanta Lawyers provides detailed information about Atlanta lawyers, Atlanta bankruptcy lawyers, Atlanta business lawyers, and more. Atlanta Lawyers is affiliated with Legal Malpractice.

Louisiana Real Estate Lawyers

Thursday, June 11th, 2009

Trading in real estate involves huge amounts of investments, sometimes your life savings. You may even have to raise loans at exorbitant rates of interest to buy the real estate, hoping that its appreciation will outbalance the investments. Yet there is always an element of risk involved, and instead of profits you may also end up with a loss. To put it simply, real estate investments involve great risks and should not be taken without thorough calculation based upon extensive expertise and research about the risks, and technical and legal aspects.

This may occur more particularly when you happen to purchase real estate in Louisiana, where the laws are different from other states of the US. In the process of buying real estate, you may have to interact with a variety of persons like real estate brokers, agents, bankers, mortgage officers, inspectors or other authorities whose functions you may not fully understand, before buying the property. Then there are the intricacies of real estate law, which need to be understood in order to draft the documents correctly. Several contract papers have to be signed, and a slight mistake in understanding a clause may cost you heavily.

The best course in such a situation would be to engage a Real Estate Lawyer who is conversant with laws in Louisiana. A little amount of money spent on legal fees can save a lot of loss and frustration. Real Estate Lawyers are easily available in every city and county. But you have to contact the right type of lawyer who specializes in your area of requirement. A generalist lawyer may not deliver the goods. A purchase agreement is a complicated document. Despite stringent laws, the possibility of fraud cannot always be ruled out. The property has to be accurately described. Then there are the technical terms and conditions of agreement which need to be understood. A slight error may land you in trouble, and so the best way out is to hire the services of a qualified Real Estate Lawyer.

Louisiana Lawyers provides detailed information about Louisiana lawyers, Louisiana probate lawyers, Louisiana real estate lawyers, Louisiana divorce lawyers and more. Louisiana Lawyers is the sister site of New Jersey Business Lawyers.

New Jersey Real Estate Lawyers

Thursday, June 11th, 2009

Investing or selling real estate will probably the largest transaction you will undertake. In addition to the enormous financial commitment, real estate buyers and sellers face numerous details and a lapful of paperwork, much of which has been drafted in indecipherable legalese. It is indeed a difficult task for an individual to handle and fulfill these formalities successfully and without any complications on his own. With so much at stake, it is always advisable to hire a real estate lawyer to handle real estate transactions and deals.

Real estate lawyers have expertise and regular practice in the field of wills, trusts, probate and estate planning. These lawyers can be the best guides to give you sound legal advice as you put your estate selling or buying plan into place. Estate-planning attorneys are subject to the regulations of state bar organizations. Many of these organizations have continuing education requirements, as well as liability insurance in case of attorney error. When you speak with an estate-planning lawyer, you can get answers to your questions-including how much investing would cost. Hiring an estate-planning lawyer also helps to avoid the financial and emotional nightmares that can occur with a poorly drafted plan.

In case you are planning to buy or sell a real estate in New Jersey, it is always advantageous to hire a real estate lawyer from local office, as they are fully equipped with the knowledge of real estate law and rules of court. They can help you come out of the most legally and factually complex real estate cases, involving several layers of relationships, extensively detailed contracts, and rare or conflicting legal issues. Often the expense incurred in retaining an estate-planning lawyer to prepare and help you put an estate plan into place is worth several times what you and your family would pay with no planning or poor planning.

New Jersey Lawyers provides detailed information about New Jersey lawyers, New Jersey bankruptcy lawyers, New Jersey business lawyers, New Jersey criminal lawyers and more. New Jersey Lawyers is the sister site of Louisiana Real Estate Lawyers.

The Role of a Connecticut Real Estate Lawyer

Thursday, June 11th, 2009

A Connecticut Real estate attorney must and at all times, make sure that the client has willingly firm and determined legally the rights to what concerns the client’s wants in a real estate situation. This includes the broad and extensive range of real estate asset types.

Moreover, a real estate lawyer should comprehend and be aware of the methods to obtain, communicate, portray and acquire each of the very huge number of classes and groups of real estate types. And of course, be able to advice a client which is possibly the most creative and financially beneficial.

A newcomer to real estate investing should learn the basic principles as well as the income tax treatment of real estate. This is also because there are many tax consequences and conflicts (either good or bad) that are often encountered in real estate ownership under several tax laws. Having high-quality legal work in the real estate practice area both shelters and adjoins outstanding value to the oldest exceptional asset in the world.

Transactions that occur in real estate vary from simple house closing including the title, survey, contract, home mortgage, and closing adjustments; to office leasing, warehouse, retail, manufacturing, and other space classes. It involves the financing for acquisition of real estate assets. It also includes the entitlement and permitting the use of real estate assets to construction, design and improvement or enhancement to these real estate assets as well as their development.

The value any capable Connecticut lawyer can add goes further than what the clients expect. Adding value with creative legal work contributes to the attainment of client necessities.

Moreover, real legal value draws from the structural constituent and building blocks that run from the lawyer’s familiarity, practice, and counseling in order to obtain tax benefits and eventually making the most of the asset value in the market. In addition, this fully apprehends the use of the real estate interest and concerns while constantly keeping in close contact with the client’s purposes and intentions.

A good real estate Connecticut lawyer not only counsels his or her client in their legal needs and queries but also deals with the problem with utmost care and concern to the consequences that may arise, while still fulfilling the client’s goals and expectations.

In the world of real estate, there are numerous situations that you may encounter once you become a real estate investor. And finding the right real estate lawyer must be the first priority. These real estate lawyers are the ones responsible for the legal needs and understand all legal transactions that you may not know at all. He or she is responsible for keeping you informed and aware of the legal problems and conflicts that can arise in relation to your real estate assets and investing needs.

Stu Pearson has an interest in Finance & Business and Real Estate Lawyer, for more FREE information and articles please visit Real Estate Lawyer Resources

Florida Real Estate Lawyers

Thursday, June 11th, 2009

Buying real estate is a dream for most people. Some people invest a lifetime’s savings in realizing the dream. People buy a home expecting trouble free maintenance and considerable comfort. When they want to sell it, they expect the process to go smoothly.

As home or real estate is the largest investment for most people, it is important that they consult a lawyer before signing any important papers related to buying real estate.

real estate lawyers help in guiding the prospective real estate owner. These lawyers specialize in offering consultancy on pre-purchase real estate issues, as well as handling any after-purchase real estate litigations.

In Florida, real estate lawyers function by being members of the Florida Bar Association, an official organ of the Supreme Court of Florida. The fact that these lawyers are members of the bar goes to say that their competency and experience in handling real estate matters are proven.

How do these lawyers help the prospective consumer? When a prospective owner wants to buy a property, the real estate broker gives him the purchase and sale contract. This agreement determines what is bought and how it is bought. It contains details on land, buildings and furnishings, payments, when is the property [also known as `title’] owned, whether it is marketable and if so, to what extent in terms of cost price, title insurance, the zoning regulations, or restrictions, boundary lines, remedial action in case of defaults, whether the agreement includes warranty deed, title insurance and other matters.

Many people prefer their lawyers to prepare the purchase agreement or to carefully review the one prepared by the real estate broker. It’s because real estate lawyers are specialists in analyzing the purchase or sale agreement.

Real estate lawyers also handle cases related to fraud, real estate taxes, mortgage and refinance, as well as rights of tenants and landlords. The Florida Bar Association’s official Website, www.floridabar.org, is an excellent source for finding real estate lawyers in the Sunshine state. Apart from helping consumers find real estate lawyers in Florida, the website hosts pamphlets of information on `Applying For Credit,’ `Buying a Home’ and other topics which will be immensely useful to the consumer.

Florida Lawyers provides detailed information on Florida Bankruptcy Lawyers, Florida Business Lawyers, Florida Criminal Lawyers, Florida Family Lawyers and more. Florida Lawyers is affiliated with Florida Alcohol Treatment.

Michigan Real Estate Lawyers

Thursday, June 11th, 2009

Real estate refers to land, whether it is used for residential, industrial or commercial purposes. Real estate has become a hot topic in Michigan after the state legislature amended the constitution to prohibit eminent domain seizures of property from private owners solely for the purpose of transferring it to other private owners for economic development or to increase tax revenues. This negated an earlier court ruling.

Real estate laws are enacted by the state and the department of Housing and Urban Development, so homebuyers can have a hassle-free and fair buying process. Laws also regulate mortgage rates, and cover landlord-tenant issues and other commercial transactions. Michigan has enacted laws to regulate the practice of real estate brokers, salespersons and appraisers. These are approximately 4,500 appraisers, 20,000 brokers and 40,000 salespersons overseen by the Michigan state board.

Real estate laws are designed to prevent fraudulent behavior during home-buying transactions, establish clear titles for properties, clarify landlord-tenant disputes, and handle other matters regarding the evaluation of property, and disputes between architects, contractors and engineers. Some of the laws in the real estate domain include property laws, tenant laws and construction acts.

Some of the common lawsuits regard foreclosure, a process in which mortgaged property is sold off to pay the loan of the defaulting borrower. Equity skimming is a scam exploiting the foreclosure procedure, in which the scamster lures the financially troubled property owner to deed out the property, promises to pay the mortgage and later defaults on the mortgage payment and allows a foreclosure procedure. Other lawsuits are related to the ownership of the property and landlord-tenant cases.

Besides lawsuits, real estate lawyers handle a broad array of real estate transactions for developers, individuals and businesses. These include the drafting of deeds for property transfers, land contracts, leases, construction contracts and mortgages. They help provide services in insuring properties.

Michigan Lawyers provides detailed information on Michigan Auto Accident Lawyers, Michigan Divorce Lawyers, Michigan Lawyers, Michigan Medical Malpractice Lawyers and more. Michigan Lawyers is affiliated with Michigan Personal Injury Lawyers Info.

New York Real Estate Lawyers

Thursday, June 11th, 2009

A New York real estate lawyer practices in accordance with New York law. A New York real estate lawyer handles purchases and sales of condominium apartments, co-operative apartments and homes, commercial and residential real estate transactions, assignments of sub-leases and leases, and more. A New York real estate lawyer also handles litigation involving real estate with banks, architects, building contractors, insurance companies and landlord-tenant litigation. A real estate lawyer handles building and remodeling agreements, and works to settle disputes regarding budget, materials, craftsmanship and other issues.

There are two categories of real estate lawyers in New York: litigation lawyers, who mainly work on lawsuits involving real estate, and transactional lawyers, who mainly deal with agreements and contracts involving real estate. Before hiring a real estate lawyer, clients should decide on which of the two types of lawyers they need. A New York real estate lawyer helps clients drawing up a lease agreement based on New York real estate law when leasing a real estate property, and represents the client if any landlord-tenant disputes arise. When purchasing real estate, one has to sign up a Promissory Note, so it is always advisable to keep a real estate lawyer present.

It is essential for all New York real estate lawyers to pass the bar exam, which includes multiple-choice questions and essay questions. On passing the bar exam, one must apply to the Appellate Court to seek entry to the bar and, after passing the interview with the Character and Fitness Committee, one can practice law in New York. Some of the most prominent real estate law firms are the Law Office of Kevork Adanas; Silverberg, Stonehill, Goldsmith and Haber; the Harry Herbertz Law Offices, and many more.

New York Lawyers provides detailed information on New York Lawyers, New York Personal Injury Lawyers, New York Real Estate Lawyers, New York Bankruptcy Lawyers and more. New York Lawyers is affiliated with New Jersey Business Lawyers.