Real estate issues or disputes are some of the things you should try your best to avoid. Unfortunately, they often arise when least expected, leading to legal issues like real estate litigation. You may face real estate litigation after leasing, selling, or buying a property, mainly due to property ownership issues or hidden defects. Litigation issues often occur, whether you are dealing with commercial or residential real estate. However, hiring a real estate attorney is the best way to approach litigation. But why do litigation issues arise in most real estate transactions? Here are three common causes.
Unwillingness to Disclose Property Defects
You should be careful when leasing or selling a property and be honest with the buyer. If it has defects, you should let the buyer know so they can make an informed decision. Unfortunately, some sellers or brokers will not disclose the defects for the fear that the seller might change their mind and look for another property. However, it's good to let the buyer know if the property has a faulty roof, leaks, mold growth, or improper improvements. If the buyer discovers these defects after buying the property, they may file a claim against you and argue that you should have identified the defects and disclosed them before sealing the deal.
Negligence
Did you know that a tenant can sue you for a breach of duty? As a landlord, you need to know that a tenant has the right to live in a habitable and safe property. If you neglect maintenance and avoid repairs, your property may be unsafe for the tenants. If a tenant gets injured as a result of such negligence, you can be a victim of real estate litigation. When a tenant asks you to repair a broken staircase, and you don't, they may sue you when it causes injury to them. So you should always handle repairs and maintenance with a lot of care to avoid litigation problems.
Boundary Issues and a Breached Contract
Boundary issues could also lead to real estate litigation if you aren't careful. You should ensure the boundaries are correctly registered when selling the property. Boundary inconsistencies are a serious legal issue, which the buyer could sue you for. On the other hand, you could face legal issues when you breach the contract. Ensure all the documents are legal and properly signed. The closing date and title clearance should not violate the outlined terms and conditions. But to be safe, it's good to hire a real estate lawyer to review the sales contract and ensure all the provisions are clear to both parties.
Contact a real estate attorney for more information.
There are a lot of laws in this country. Most people do find the laws annoying from time to time, but they do exist for our own safety and protection. It's also easier to understand laws, sometimes, if you think about them as falling into different classes and categories. One of those categories is real estate. There is a great variety of laws that specify how properties can be bought and sold, what landlords and renters are permitted to do, and so forth. Real estate attorneys specialize in this type of law, and you can read about them on this website.