Real estate deals in India are complex as they involve various legalities as well as paperwork. With the introduction of new real estate laws in India, such as RERA, certain procedures are to be followed in matters related to the buying and selling of properties in case you face some problems.
A real estate lawyer will help you negotiate through these processes and will also provide useful insights to help you with the process of dealing with the buying and selling of real estate. Through the following article, we will explore what exactly real estate lawyers do and how one could appoint them.
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What does a land lawyer do?
The following functions are performed by a real estate lawyer:
- Would advise the clients on various matters related to real estate.
- Help drafting documents such as MOUs, lease agreements, license agreements, etc.
- A Real Estate Lawyer can also be employed in law firms, government firms or public departments, RERA departments under state governments or real estate companies.
- Performing various functions from title searches, carefully examining share certificates and ownership documents, to overseeing as well as registering the sale of a property.
- They carry out crucial regulatory and procedural procedures for various issues as per the development of different laws.
- Litigation processes in the district and higher courts
When should a lawyer for real estate be appointed?
The following functions are to be performed by a Real Estate Lawyer for a property buyer:
Reviewing Title of Property
A Real Estate lawyer would make sure that the seller has proper legal ownership rights over the property that he or she is selling. There is no pending litigation on the property and the title should be there. This would be verified by the lawyer by reviewing the deed. The land lawyer would also confirm the information mentioned in the title deed by confirming it with related authorities.
The lawyer would ensure that the property has not been charged as security against any loan by the seller and is not involved in any court case. Unless all such charges have been cleared, the said property will not be transferred to the buyer. If any of the above-mentioned issues exist, such a transfer of property would become null and void. Therefore, before dealing with real estate matters, it is important that you contact the best real estate lawyer near you.
Search for Statutory Approvals
It is the responsibility of a land lawyer to make sure that all necessary approvals required for a transfer of property are obtained from relevant authorities before a sale of property can be initiated. Such approvals shall include clearances by various government departments, for example, the land development authority, planning authority, etc.
A real estate lawyer is aware that extra precautions are necessary to be taken for properties involving trusts, minors, widows, and lunatics, as has been provided under Indian real estate law.
Preparing Sale Documents
A real estate lawyer would be responsible for drafting various legal documents involved in buying and selling properties. Some of these documents will include:
- Sale agreement, which is a primary real estate legal document between a buyer and seller explaining the terms and conditions for the transfer. A breach of contract by either of the parties shall be grounds for legal action.
- A conveyance deed is the type of deed that proves that no outstanding debt is against the property. It could be said to be a broader term that includes any transfer of property ownership in the form of a gift, mortgage, lease, exchange, etc., in buyer’s favor.
- Registration After the sale of property has been finalized and ownership has transferred, the land lawyer must register the original deeds with the registration office, therefore making the transaction legal and binding.
Managing Disputes
Any disputes arising in the course of the sale of the property will be handled by the real estate lawyers, who will keep the best interests of their clients as their priority.
How do I appoint a Real Estate Lawyer?
Word of Mouth
The best way to find a real estate lawyer is through the advice of a trusted friend or acquaintance, who could refer you to a real estate lawyer who has successfully managed real estate transactions for your friends or family in the past.
Online Search
Another option would be to find the appropriate real estate lawyer by searching online. However, one would have to be careful, as it could be difficult to assess the competence of the lawyer. Reviews from previous clients could be helpful.
However, before appointing an advocate, it is important that you discuss the real estate attorney’s cost so that there is no confusion regarding the fees of the lawyer.
Major for a Real Estate Lawyer
No specific subject combination has been provided in order to become a good real estate lawyer. A Candidate from any background or field can become a real estate lawyer. A candidate with a graduate degree in any subject would have to complete the LLB degree in order to be a lawyer.
Conclusion
As could be inferred from the above discussion, it is important to seek assistance from a real estate lawyer when buying or selling a property. In order to opt for the profession of a real estate lawyer, the minimum requirement would be to be a graduate from a recognized university and then complete a degree in LLB.
Lead India offers you a team of experienced advocates who have been successfully handling cases related to property matters. Therefore, if you wish to talk to a lawyer or seek free legal advice online, you may contact us.
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