Duties Of Property Lawyers
These are the lawyers who practise in the field of reviewing real estate transactions which involve leases, purchases, appraisals, and inspections. These lawyers also assist in resolving issues on land title insurance as well as environmental issues within the real estate property. The property lawyers are tasked to handle cases on foreclosure issues, and some represent the lenders while some represent the borrowers.
1) Document drafting is one of their duties. They prepare deeds for the conveyancing transactions, rental or leases contracts, the contracts on purchases and financing transactions. Though there are some states which allow the real estate agent to fill out the real estate contracts, only the lawyers in the property law are allowed to make the final draft as well as make revisions.
2) They may be tasked to negotiate a real estate transactions. Some clients prefer to let the lawyers handle all the negotiations pertaining to the real estate property they intend to buy or intend to sell. This means that the lawyers also negotiate with the brokers and even with the developers of the property.
3) If there is a lawsuit, then the property lawyers can represent clients in the court litigations. This includes writing the legal pleadings which will be filed with the court, attending court hearings, and filing for appeals. If out of court settlement is preferred by both parties, the lawyers are tasked to make sure that their clients are not short-changed by the other party.
4) Issues regarding property foreclosures are also the expertise of the lawyers whose specialisation is in real estate issues. During an economic turmoil, there a lot of real estate properties that undergo foreclosure. Some lawyers may be asked to represent the lenders while some represent the borrowers. The lawyers who are representing the lenders will guide them regarding the prices of foreclosure which may even involve filing a case in the court. On the other hand, the property lawyers who are representing the borrowers will make it difficult for the lenders by challenging them the errors which are committed in the foreclosure process and thereby offering the lender for an out of court debt settlement of the case.
5) If you are going to buy a real estate property, it is advisable to get the service of a property lawyer. This is the best way to protect you from fraud and other issues.