Legal Services India - Law Articles is a Treasure House of Legal Knowledge and information, the law resources is an ever growing database of authentic legal information.
Legal Services India

» Home
Tuesday, December 3, 2024

Lawyers and Real Estate

Thu, May 3, 18, 12:47, 7 Years ago
star star star star star
0 out of 5 with 0 ratings
comments: 1 - hits: 4165
Many think that hiring legal counsel would just be an increase in the expenses involved in investing in real estate. If you are of the same opinion, it is time to think again.

Many think that hiring legal counsel would just be an increase in the expenses involved in investing in real estate. If you are of the same opinion, it is time to think again. While it is not legally binding to get help from a real estate attorney, it sure helps ease the task, avoid certain pitfalls and make it a worthwhile expenditure.

What are the specific responsibilities of the legal practitioner with regard to the buying or selling of real estate? Here are the details of the important tasks your attorney needs to handle in this regard.

Creating the real estate contract – adhering to the Hawaii laws is important, whether it involves residential or commercial real estate transactions. For a contract to be legally binding, this is a necessity. The attorney would be able to review the draft, and do any required modifications to avoid legal hassles regarding the future use of the property.

Performing title search – is essential to ensure that there are no encumbrances to the sell of the property. The objective is to find out whether liens or judgments hamper the sell of the property, and whether the seller has the right to do it. You can ask your attorney to find a title search company and complete the task without a hitch.

Preparing property transfers – is difficult especially when one or more of the parties involved in the deal are trusts, corporations, or such other entities. Along with adherence to state laws, your attorney would also need to make sure that the transfer does not violate any of these entity's charter agreements.

Filing the deed at the state level is also another important task of the Hawaii real estate attorneys. The state laws do not require a business entity to file at the county level, making it easier for the commercial investors. Failing to handle any of these tasks properly makes you susceptible to litigation.

Getting a legal adviser at the initial stage helps avoid problems later. What problems are probable? Here are a few instances.

* Failure to reveal facts about the property may lead to litigation
* Failure to transfer property legally may increase your tax burden
* Failure to register with the right authorities may lead to legal trouble
* Failure to disclose a lien/judgment
* Failure to get the right building permits

Numerous other problems may arise, and lead to increase in expenses, if you do not retain legal counsel from the very beginning.

If you are searching for a lawyer practicing medical malpractice, please visit the Legal service India Lawyer Directory to get the required information.

Legal Services India

Comments

There are no comments for this article.
Only authorized users can leave comments. Please sign in first, or register a free account.
Share
Sponsor
About Author
admin
Member since Feb 20, 2018
Location: India
Following
User not following anyone yet.
You might also like
The law relating to improvements to mortgaged property as embodied under Section 63-A was introduced by the Amending Act of 1929. Before this amendment, the Act, i.e., the Transfer of Property Act, 1882 was silent as to improvements by a mortgagee.
If a childless widow dies intestate, everything that belongs to her goes to her in­ laws, and that includes all the wealth she acquired in her lifetime through her own efforts.
How To Assert A Daughter's Right, Filing A Suit For Partition
A Will or Last Will and Testament is a legal document in the form of a declaration which a person known as a testator will name one or two people or a professional to manage their estate and distribute their estate to named beneficiaries, after their death.
A female Hindu dying intestate without making a Will – the property of the said Hindu goes according to the provisions made in Hindu Succession Act, 1956
A men Hindu passing away intestate without creating a Will
Validity of the Will may be challenged due to Lack of execution
Section 7 of the Transfer of Property Act, 1882 provides that every person competent to contract i.e. a major and of sound mind or is not disqualified by law for contracting.
Perpetuity is an interest, which will not vest till a remote period. One cannot postpone the vesting of the property in the transferee beyond a certain limit. the period for which vesting may be lawfully postponed is called perpetuity period
The non-residents of India can buy property in India. They should be aware of the property registration method in the local region, like Mumbai, Delhi etc.. The sales deed should be verified with the sub-registrar and registrar in the Municipal Corporation. Get along the proofs of identity, residence, PIO/OCI status and other mentioned ones.
While clearly and convincingly holding that possessory title over property cannot be claimed merely on the basis of 'casual possession', the Supreme Court in Poona Ram v. Moti Ram
There is no provision in the Constitution that such an elected representative can claim or ask for a price after he demits office. A claim of this nature reflects as if it is something parasitical.
The Associated Journals Ltd & Anr v. Land & Development Office has clearly and convincingly upheld the eviction order passed against National Herald publisher Associated Journals Limited to vacate ITO premises where Herald House is located.
Property Rights for Married women
Rajesh Yadav Vs State of UP held that the right to shelter is a fundamental right and the State has a Constitutional duty to provide house sites to the poor. Justice Surya Prakash Kesarwani who authored this path breaking judgment observed so while dismissing a PIL seeking eviction of four individuals who allegedly encroached a public land.
Article explains Succession, Testamentary Powers, Intestate Succession/Inheritance, Meaning/Definition of a ‘Will’ and Importance of making a Will.
The outdoor space of our home or the space at the backyard can serve as the area of cooking. However, you should have the basic equipment for grilling food and do up the space elaborately.
Property agents indeed charge high commissions, though the person selling a home pays the amount. However, the seller might pass this cost indirectly to you.
Vineeta Sharma vs Rakesh Sharma held in no uncertain terms that a daughter will have a share after the Hindu Succession (Amendment) Act, 2005, irrespective of whether her father was alive or not at the time of amendment.
It goes without saying that most of us had seen how Roshni scam which is Rs 25,000 crore scam was highlighted extensively some time back in Zee News channel. They termed it as Mission Zameen Jihad.
It is a truly cozier experience to spend a winter evening beside the crackling fire glowing at your backyard fireplace,
Do you have a porch, hot but, or gazebo which you want to cover up with something which can save on your heating bills?
Daulat Singh (D) Thr. Lrs. vs. Rajasthan acceptance of a gift can be inferred by the implied conduct of the donee. Such inference can be ascertained from the surrounding circumstances such as taking into possession the property by the done or by being in the possession of the gift deed itself.
Anup Majee Vs UOI the authority of the CBI to investigate into the allegations in a particular case within Railway areas remain unfettered by the withdrawal of consent of the State Government.
The new Model Tenancy Act offers great benefits to NRIs & landlords to get a sustainable rental income under a disciplined and law-protected environment.
Ahuja Trading Company vs Ramesh Chander Aggarwal that dishonest litigants cannot be allowed to abuse the process of court. This judgment came while hearing a tenancy matter.
The growth in real estate sector has been highlighted through the enactment and guidelines of RERA
KS Narayana Elayathu vs Sandhya Additional District Court, Ernakulam has while making the legal position crystal clear held explicitly that while District Courts are empowered to appoint a guardian for a minor's property, only Family Court can appoint a guardian for the person of a minor.
Smt Durgabala Mandal Vs West Bengal that the daughter-in-law is bound by the undertaking given while obtaining a compassionate appointment to maintain and extend medical assistance to the mother-in-law.
Arunachala Gounder (Dead) Vs Ponnusamy a daughter is capable of inheriting the self-acquired property or share received in the partition of a coparcenary property of her Hindu father dying intestate.
Smt.Sonia Bai vs Bashrath Sahu that under the Hindu Succession Act (amended in 2005), daughters are entitled to get an equal share in their parent’s inherited property.
Ajay Kumar Rathee vs Seema Rathee that the daughter who was aged 20 years of age was not intending to maintain ties with her father. The Court also noted that if that be the case, she can’t claim any amount from him for marriage and education.
Sovakar Guru v. Odisha that entitlement of an employee or an ex-employee to his salary or pension, as the case may be, is an intrinsic part of his right to life under Article 21 and right to property under Article 300A of the Constitution.
Phool Singh vs Amit Kumar that an unregistered agreement to sell, being in contravention of the provisions of the Registration Act, 1908, cannot be accepted by the Court for granting possession in favour of the claimant party.
Arun Kumar Singh v. Smt Jaya Singh that a mere nomination would not confer any beneficial interest on the nominee under an insurance policy and that a nominee is only an authorized hand to receive the insurance amount, which is subject to disbursement amongst the legal heirs under the law of succession governing the parties.
West Bengal v/s Dilip Ghosh that the State professing to be a welfare state cannot claim to have perfected its titled over a piece of land by invoking the doctrine of adverse possession to grab the property of its own citizens.
Anita Aggarwal v/s H.P. that Section 102 CrPC (Power of police officer to seize certain property) empowers the police officer to seize certain property on existence of a condition that the said property should have been alleged or suspected to have been stolen or which may be found under circumstances
Mohammad Sultan Nagoo vs Custodian Evacuee Property that the government has a responsibility to safeguard, maintain and effectively utilize evacuee properties.
L & T Finance Limited v Maharashtra that pendency of secured creditors applications for possession of secured assets is bad for financial health of the country.
Government of Kerala vs Joseph that merely a long period of possession, does not translate into the right of adverse possession.
Kannaian Naidu v Kamsala Ammal that a wife, who contributed to the acquisition of family assets by performing the household chores would be entitled to an equal share in the properties as she had indirectly contributed to its purchase.
Brij Narayan Shukla vs Sudesh Kumar Alias Suresh Kumar Allahabad High Court that had allowed a suit for claiming rights by adverse possession and held that ownership and possession of land cannot be claimed through permissive possession arising from tenancy.
Revanasiddappa vs Mallikarjun the exercise of its civil appellate jurisdiction has granted legitimacy and property rights to the children of void or voidable marriages in Hindu joint families.
Top