What problems can a property lawyer resolve

One must consult a property lawyer as various kinds of real estate contracts are there and it is important to understand that contracts are important for the real estate deals or property disputes. A contract can be understood as a document which is legally enforceable, signed between two parties or more. It consists of an offer, acceptance of the offer, consideration for the parties, legal capacity and legality of purpose.

A number of contracts are required to be signed in the real estate field which have been mentioned here under. In order to seek proper legal guidance over matters related to property disputes or to sell or buy your property, it is advised that you seek property lawyer near you.

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Purchase Agreement

A purchase agreement contract is related to the sale of a property. It will include the name of both parties, the address of the property involved, signatures of the parties involved as well as the closing date.

The various types of Purchase contracts have been discussed below

State/Association Agreement

A real estate agent will also be involved in these agreements.

General Purchase Agreement

These agreements are same as that of the agreements mentioned above, however, a real estate agent would not be involved.

Real Estate Assignment Contract

This type of contract is mostly used in the sale of a property held between the homeowner and buyer of the property. A real estate assignment contract would be signed when the owner of the property agrees to sell his rights to purchase the property to an investor and the parties sign the contract.
This contract when signed would enable the investor to purchase the property and later selling it to a third party.
The end buyer would pay assignment fees to the investor mentioned above, and hence will buy the property from the homeowner.
It shall be noted that the Real Estate Assignment contract will not provide the investors the title of the property.

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Lease Agreement

A lease agreement is a real estate contract between an owner of the property (landlord) and a renter (tenant) of such property. The landlord when agrees to offer the property for the tenant to reside in at a specific monthly rate, they will sign a lease agreement. The contract shall includes important conditions including the security deposit, payment of utilities other than the time period for the lease as well as the amount of rent which has to be paid.

Power of attorney

A power of attorney will be used in such situations where the principal (i.e. an individual who has provided the permission for someone to act in his place) will not be in a position or is unable to sign the contract physically. In such a situation the principal can appoint another party to act on his behalf, by signing a power of attorney to such a person. A power of attorney can be signed in the following scenarios-

When the principal is not physically
Principal has been hospitalised or has an illness, when it may not be possible for him to sign the contract.
The principal is not present in the country, therefore it would not be possible for him sign the contract.
The principal owns a number of investment properties and therefore would not be possible for him or her to be present everywhere.
The principal is an elderly and is not in a condition to sign the contract.

Conclusion

If you have decided to purchase a new real estate property, then you would have to sign a proper contract for the same. A number of contracts are there in the field of real estate and hence, it is advised to seek proper guidance and assistance from a property lawyer, so that you would not enter into a contract blindfolded