Who is a real estate lawyer?
A Real Estate lawyer is a certified professional who takes care of all real estate transactions involving real estate law. It is always wise to have a real estate lawyer with you when you buy or sell a property because these transactions are complex and involve a lot of paperwork. Professionals like Real Estate Lawyer Markham can help you navigate this chaos and simplify the process with minimum risks. Find out more about why you need a real estate lawyer right here.
What are the responsibilities of a real estate lawyer?
Real estate lawyers should be experts in all the laws relating to real estate, including regulatory acts, property acts, by-laws, and control rules. The role of a real estate lawyer is complex and requires them to carry out various responsibilities such as:
- Drafting legal documents for real estate transactions
- Conducting a property title search
- Resolving disputes amongst parties
- Drafting title search certificates
- Checking for pending property litigation
- Advising clients on real estate issues
- Drafting MOUs, leases, and license agreements
- Overseeing registration and sale of property
- Carrying our regulatory and compliance services
- Vetting share certificates and ownership documents
When should you hire a real estate lawyer?
You will need the help of a real estate lawyer if you are buying or selling a property to ensure all paperwork is completed legally.
If you are buying or selling a property, you will need the professional guidance of a real estate lawyer to negotiate the paperwork and ensure everything is compliant with the laws.
Your lawyer will handle the following responsibilities on behalf of you:
- Reviewing the title of property
The Title of Property has to be clear, encumbrance-free, and litigation-free for sale to take place smoothly. Your lawyer will verify the title deed and confirm the property ownership by checking with the relevant authorities and offices. They will also ensure all pending litigation, encumbrances, a notice of acquisition, and charges are cleared before the property transfer.
- Obtaining statutory approvals
A property transfer requires all necessary approvals from the relevant authorities, without which it cannot be completed. Your lawyer is responsible for obtaining these approvals, including clearances by the various departments like tax, environment, land development, and planning.
- Preparing sale documents
Real estate lawyers are responsible for drafting all documents related to the property sale. It includes the Sale Agreement, Conveyance Deed, and Registration documents. If there is a breach of contract, the lawyer should also take the appropriate legal action against the concerned party.
- Managing disputes
Real estate lawyers will handle any disputes that arise during the sale of a property keeping their clients’ interests in mind.
How to find the best real estate lawyer?
- The best way to find a reliable lawyer for your property requirements is through word of mouth. Ask friends, family members, and trusted acquaintances to recommend a lawyer they know well.
- You can also do an online search, but you need to be very cautious. It isn’t easy to assess competence by relying only on online reviews.
- Always check if your lawyer is qualified with a law degree, the relevant knowledge, and the required certification and license to practice their profession.