Can A Real Estate Lawyer Solve My Land Dispute ?

A real estate attorney is required to be consulted in case you are, as there are different types of real estate contracts and it is necessary to understand that contracts are required for real estate deals. A contract is a legally enforceable document signed between two parties or more. It will include an offer, acceptance of the offer, consideration for the parties, legal capacity, etc. 

The various kinds of contracts required in the  field of real estate have been discussed below. To contact a real estate lawyer, it is advised that you seek references from your friends or relatives, or even refer to online platforms or by contacting famous real estate legal firms near you.

Purchase Agreement: is the kind of contract regarding the sale of a property. It will include the name of the parties, the address of the property, the signatures of parties involved and the closing date. 

Various example of Purchase contracts have been mentioned here under-

  • State/Association Agreement- In these agreements, a real estate agent will be involved in the sale of the property. 
  • General Purchase Agreement- Similar to the agreement mentioned above, between the seller and purchaser for the sale of a property, in these agreements, a real estate agent will  not be involved.
  •  Property-Specific Purchase Agreement- is a land purchase agreement. 

Real Estate Assignment Contract- 

Generally used in the sale of a property, this contract is signed between a homeowner and the buyer. The real estate assignment contract would be signed when the owner of the property agrees to sell his rights to purchase the property to an investor and both  parties sign the contract. 

This contract will provide the real estate investor rights to purchase a property (not for himself) from the owner and then they could further sell the property to another buyer. 

The end buyer would pay the required assignment fees to the investor, thus buying the property from the homeowner. 

It must be noted that the Real Estate Assignment contract will not provide the investors with a  title of the property.

Lease Agreement- 

Real estate contract between the owner of the property(landlord) and the renter (tenant) to the property. The landlord would agree to offer the property for the tenant so as to reside in at a specific monthly rate. The contract would include necessary conditions such as security deposit, payment of utilities other than the time period for the lease and  the amount of rent to be paid.

All required conditions must be included in the contract in order to prevent any legal disputes in the future. 

Power of attorney- 

When the principal, or the person who has authorized someone to act on his behalf, is not present or cannot physically sign the contract, a power of attorney will be employed. In such conditions, the principal would appoint another party to act on his behalf, thus signing the power of attorney to them. Power of attorney shall be transferred in the following situations-

  • When the principal is physically disabled
  • The principal is hospitalized at the time or has been suffering from some serious illness, which has rendered him unable to sign the contract. 
  • The principal is unavailable as he or she is absent from the country, therefore is unable to sign the contract.
  • The Principal owns numerous investment properties, therefore it is not possible for him  to be present everywhere.
  • The owner of the property is an elderly and is not physically able to sign the contract.

Conclusion- 

If you have decided to purchase a new real estate property, it is not possible that you are going to sign a real estate contract. There are different kinds of contracts in the field of real estate and therefore, it is advised that you seek much required guidance and assistance from a real estate attorney near me, in order to ensure that you won’t face any legal problem due to the contract you have signed.

Lead India offers a team of experienced advocates who have been successfully dealing with the issues related to the real estate matters and hence can provide you with proper legal advice and assistance with various procedures for legal paperwork. Therefore, if you wish to talk to a lawyer or seek free legal advice online, you may contact us.

SOURCE:-

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