The real estate industry is governed by rules set forth by the government. These regulations protect buyers and sellers from any fraudulent or deceptive business practices within a company of real estate agents, brokers, builders, appraisers, and other professionals. When doing any kind of transaction, working with a lawyer will ensure you adhere to every law. This article outlines three vital real estate legal services attorneys offer.
Forming Business Entities
If you are an individual or a corporation involved in the real estate business, you will most likely need some legal form to be put together. You can create a limited liability company or a corporation to protect yourself and your business from any liabilities that may arise from your work. You will also need a legal form to protect yourself and your company from lawsuits, debt obligations, or bankruptcy proceedings. Forming these types of entities is very important and must be done correctly.
Although there's no one-size-fits-all template for what type of business entity you should choose, a law firm can help you choose one that suits your needs. They'll consider factors such as how much money you want to invest in starting up your company, whether or not other people are involved with this endeavor, and the risks you're likely to encounter. Whatever choice they'll help you make, they'll ensure your chosen entity protects you against potential litigation.
Creating Contract Documents
Contract documents include everything from the purchase agreement to the lease agreement. Every real estate investor needs these documents to stay on the right side of the law and protect their company's assets. They'll also offer a legal framework for the relationship between two or more parties involved in a transaction and third parties. The agreements on these forms are considered binding on all parties involved. They protect both sides of any future dispute over ownership, rent prices, maintenance schedules, and other things related to the property in question.
A law firm can draft for you a complete package of standard documents that you and your investors can use to protect your company. You'll have everything you need to manage the property, protect it, and ensure fair transactions.
Real estate disputes can be complex and frustrating to handle. All too often, they take a lot of time and can be expensive for both parties. A real estate law firm can help you avoid these kinds of issues, so you focus on your business instead of litigating against an investor or tenant. They'll also represent you in court if necessary and help you negotiate with the other party.
Real estate issues can prevent you from running your business efficiently. Fortunately, a real estate law firm can advise you on what to do and help protect your company from lawsuits.
Contact a local company if you need real estate legal services.