Having a lawyer help with the creation of real estate contracts will help ensure you are being protected within the deal. There are so many different situations that involve real estate transactions and each situation involves a wide range of intricacies. You want to make sure you and your interests are being protected throughout the process.
In addition to real estate contracts, property rights lawyers can assist when you feel your rights are being violated. This can be as a tenant, property owner, buyer or seller. Lawyers can also assist you through foreclosures and refinances.
Here are just a few examples of laws that can directly impact you when buying, selling, or renting in California. According to state law, a real estate agent is required to disclose any information about deaths that have occurred on the property within three years. Not disclosing this information can result in a lawsuit, as well as a stop to the sale.
According to Title 10 of state civil code, if a property is abandoned and the owners can not be found for a period of three years, it is unclaimed property and transferred to the state. The property can then be sold by the state through their process, which a real estate lawyer can help you navigate.
When looking at situations of rental property, it is important for property owners to understand the rights of the tenants prior to buying or selling a property. For example, as long as a tenant has lived in the property for at least one year, the landlord is required to provide a 60-day notice prior to evicting them.
In the state of California, it takes approximately 40 days to close a real estate deal. There are also the issues of inspections, appraisals, and searches for liens or other claims against the property. Real estate law in the state of California dictates what is required and what is option in all transaction situations.
While the average person may not know or understand the role of property law in business, a real estate attorney will be well versed in all areas and able to help ensure the deal goes smoothly. When considering a real estate deal of any kind, it is smart to have a lawyer look over the real estate contract before signing to ensuring everything is in your favor and as it appears.
