Property Lawyers In Delhi For Helping In Property Dispute

A real estate lawyer would have to be consulted as there are various kinds of real estate contracts and it is important to understand the types of contracts which are necessary for real  estate deals. A contract is a legally enforceable document signed between two parties or more. It will consist of offer, acceptance, consideration, legal capacities of the parties,etc.  

Various types of contracts which are necessary in the field of  real estate and are discussed below. In order to appoint a real estate attorney, it is advised that you ask for references from your friends or relatives, through online platforms or by contacting a famous real estate lawyer near me. Various documents required so as to avoid any possible disputes amongst the people have been discussed below-

Purchase Agreement

These types of contracts are related to the sale of a property. They include the name of both the parties, the address of the property lawyer , the signatures of the parties involved and the closing date. 

The many types of purchase contracts have been described as follows:

  • State/Association Agreement- in these kinds of agreements a real estate agent is also involved in the sale of the property. 

  • General Purchase Agreement- Similar to the aforementioned agreement between the seller and the buyer for the sale of a home, real estate agents are not involved in these agreements.

  •  Property- Specific Purchase Agreement- is a land purchase agreement  or an agreement for a mobile home.

Real Estate Assignment Contract- 

This contract is generally used in the sale of a property between a homeowner and the buyer. A real estate assignment contract will be signed when the owner of a property agrees to sell the rights to purchase the property to an investor and both the parties sign the contract. 

This contract provides the real estate investor the rights to purchase the property (not for himself)  and then they can sell the property to another buyer. 

The end buyer pays assignment fees  to the investor, and thus buys the property from the homeowner. 

It is to be noted that the Real Estate Assignment contract does not provide the investors with the title of the property.

Lease Agreement- 

It is a real estate contract between a property owner (landlord) and a renter (tenant) to the property. The landlord agrees to offer the property for the tenant to reside in at a specific monthly rate. The contract includes important conditions such as security deposit, payment of utilities other than the time period for the lease as well as the amount of rent to be paid.

To avoid any future legal issues, all significant terms must be incorporated in the contract.

Power of attorney- 

When the principal cannot act, a power of attorney is used (i.e. a person who has given the permission for someone to act in his place) is not in a position or is physically able to sign the contract. In such a situation the principal will appoint another party to act on his behalf, hence signing the power of attorney to them. Power of attorney could be signed in the following situations-

  • If the principal is physically disabled

  • Principal is hospitalized at the time or is suffering from some illness, where it is not possible for him to sign the contract. 

  • The principal is unavailable as he or she is not present in the country, hence is unable to sign the contract.

  • Owns several investment properties and hence is not possible to present everywhere.

  • Is elderly and hence, not able to sign the contract.

Conclusion- 

It is probable that you will sign a real estate contract if you decide to buy a new piece of property. There could be situations where you are involved in some property dispute, it is, therefore, advised to seek proper guidance and assistance from the Best real estate lawyer in Delhi, so that you do not face any legal problem due to the contract you have signed.

Lead India offers you a team of experienced advocates who have been successfully dealing with  issues involving real estate matters and therefore provide you with proper legal advice and assistance with various procedures for legal paperwork. Hence if you wish to talk to a lawyer or seek free legal advice, you may contact us. ask a legal question.

SOURCE:-

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Location: 18, Barakhamba Rd, Fire Brigade Lane, Barakhamba, New Delhi, Delhi 110001, India

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