Real Estate Law Articles
Articles written by attorneys and experts worldwide
discussing legal aspects related to Real Estate.
We often hear that someone owes us a fiduciary duty, whether in a business setting, certain transactions, or even a condo/co-op or homeowners association. But what is a fiduciary duty, how does a fiduciary relationship arise, and what are its implications?
Mortgage foreclosure is the process by which the bank takes your home for not paying your loan. It can be a long, difficult, and confusing process for many homeowners, and if you are facing a foreclosure you should contact a local, qualified attorney for advice on how to respond. In the meantime, here are 10 common mistakes people make during a mortgage foreclosure:
A short sale allows the lender to avoid the work involved in foreclosing and then trying to sell a property. It allows the homeowner to avoid foreclosure. However, a short sale can also be challenging to all involved.
If a lessee wishes to provisionally suspend the payment of installments, this requires in addition to the cancellation of the purchase agreement the enforcement of the claim for repayment of the purchase price against the supplier.
Brokerage costs which are incurred from the sale of a house may be included as work-related expenses for rental income under certain circumstances.
Architects and structural engineers have a duty to disclose existing risks to the client relating to a construction project, according to the Federal Court of Justice (BGH) in its judgment of June 20, 2013 (Az.: VII ZR 4/12).
Exclusion of warranty may not be effectively valid if the seller of a house has not correctly described any existing defects; therefore, as a result, the seller carries liability in cases of false representation or claims made in bad faith that are involved in the process of the sale.
The classification of a rental space as either residential or commercial conforms to the emphasis given by the lease tenancy agreement.
For the classification of leased premises as residential or commercial tenancies, the focus of the tenancy is decisive.
The classification of a rental space as either a residential or commercial tenancy conforms to the emphasis given by the lease tenancy agreement.
Tenancy Termination Possible, if Landlord Would Like to Use Property for Commercial Purpose - Germany
It is now permissible for a landlord to cancel a lease agreement contract if the landlord wishes to use the leased property for commercial purposes and therefore not for personal use.
Among the well-known commercial risk of today, expropriation seems to stand out as the most prominent. It represents the most dreadful form of measures to investors, which might be taken against foreign direct investment by a host state.
Buying property in Argentina as a foreigner is legally straightforward
The moratorium on alienation of Ukrainian farm land has long prevented meaningful foreign investment into the Ukrainian agricultural sector. To somehow obtain access to agricultural land, instead of outright ownership foreign investors had to register Ukrainian companies that entered into lease agreements with landowners, most with a “right to buy” option if and when the moratorium will be lifted.
Whether real estate is being acquired entirely new in the context of property acquisition or if it was already in the partnership’s possession is an important fact.
It’s time for everyone along the east coast to ready their Hurricane Preparedness Plan, and the law firm of Panter, Panter & Sampedro, P.A. have prepared some tips to help prevent unnecessary injuries and damage to property.
In a recent judgement, the German Federal Court of Justice (BGH) provided a few clarifications with respect to the responsibilities of an architect towards his clients.
As a matter of principle, an architect has to delimit the economic framework for a construction project and consider the budget plans of the client with regards to the basic evaluation.
Real estate investors to soon get shot in the arm if developers fail to deliver. The Real Estate Investor Protection Law, which was highly expected to be issued this year, will now be released during the first quarter of 2013, a senior Dubai Land Department (DLD) official has said.
Being a landlord is not the easiest job in the world. How do you leverage your standing with your tenant? Does the law provide sufficient regulation in this area?
When a house is sold, the seller is potentially unable to invoke a contractual warranty exemption if he fraudulently failed to fully disclose an existing defect.
Nowadays the subject “Copyright” in the case of buildings occupies architects and builders more and more.
A warranty exemption is potentially of no help to the seller of a house who does not fully and correctly describe an existing defect: where there is bad faith, he is nonetheless liable.
There are laws in place to protect investors from unscrupulous brokers at companies looking to take their money and make high commissions with little promise of return; those laws work very well, for the most part, to protect investors from securities fraud or investment fraud. Be that as it may, because of a changing landscape, unscrupulous investment brokers and companies may still sell risky investments to investors with the promise that they are "safe" and "low risk."
Although touted as safe and low risk investments, Ameriprise real estate investment trust funds have been anything but that – even though brokers have insisted to unwitting investors that they are. It's been alleged that Ameriprise Financial recommended these funds to investors, resulting in significant loss to those investors.
By Karbal & Co.
The Libyan Civil Transactions Code of 1953 imposes liabilities on both the contractor and the architect. Article 650 of the Civil Code holds the contractor and the architect (or supervising engineer) jointly liable for any minor or major collapse of the building even if the collapse was due to ground defects and/or the building had been approved and accepted by the owner.
Mold, Radon and other contributing factors to indoor air quality can significantly alter the value of a property and how well it sells. It can even constitute a claim or lawsuit.
An easement is a grant of permission by the owner of land (known as the subservient estate) in favor of the owner of a different parcel of land (known as the dominant estate) to cross over and/or use a portion of the subservient estate.
Legal comments on the possibility for acquiring of land by foreign citizens following expiration of the 5-years period of prohibition
It is always a difficult topic to address when one talks about the death of a spouse: this article aims to clarify some of the issues people living in Italy may have if they find themselves in the situation of inheriting property or assets under the Italian Legal system.
The world of law, tax and real estate continue to become more and more complex. Costs can be a strong deterrent to a person seeking professional advice. Wischmeyer Professional Services Access Plan allows employers to provide valuable resources to their employees at minimal cost and can even benefit themselves. Access to free consultations with an attorney, accountant or real estate agent with discounts if services are needed for professional resources and services.
In January 2013, the California Homeowner Bill of Rights will take effect, providing unparalleled protection for homeowners across the state. This Bill, which is the first of its kind, will reform the foreclosure process and provide unique protection for homeowners.
By Oaktree Law
Will the FED's actions affect you?
I Owe More than My House is Worth and Waiting on the Bank to Threaten Foreclosure --- What Can a Homeowner Do?
The United States is going through one of the worst recessions since the Great Depression. Bankruptcy filings have increased, unemployment is high and home values have decreased exponentially since 2007 highs. Many home owners are finding they have a lot of debt, a house that is not worth what they owe, no ability to refinance and no ability to sell a home because they owe more than it is worth.
Buying and selling real estate in Jamaica is marked by the absence of standardized contract. In fact, the process is attorney driven. What looks to be a simple procedure can be quite intimidating. The time for completion is usually set at 90 days if a mortgage is involved and 60 days if the transfer is a cash deal.
By Oaktree Law
Learn how a federal agency, made to protect homeowners, has now turned on them.
A recent Pennsylvania Superior Court decision may have very well changed the PA Mechanics’ Lien Law dealing with repayment priority, to the benefit of the contractor, when a construction project takes a wrong turn. A mechanic's lien is a security interest that is placed on the title to property for the benefit of those who have supplied labor or materials that improve that property. 49 P.S. § 1101 et seq.
A major development in Hungarian immigration policy affecting ’investor residency’ is anticipated imminently. On 27th October, 2012 the ruling party of Hungary submitted a Bill to Parliament, which would offer permanent Hungarian residency under preferential conditions for non-EU national investors willing to buy at least €250,000 of government bonds. The Bill is currently under consideration and is expected to become law very soon.
If you are considering purchasing an apartment in Malta, among your enquiries you should consider what to look out for as far as condominium issues are concerned. Although this note refers to ‘apartments’, it is worth noting that the Condominium Act uses the term ‘units’ ( or ‘tenements’) and not apartments. A condominium might include a shop or an office.
By Zorlu Law
Formation of the contract under the Vienna Convention on Contracts for the International Sale of Goods 1980 (CISG) in comparison with Turkish Code of Obligations. 1 – General - The United Nations Convention on Contracts for the International Sale of Goods (CISG) was signed in Vienna on 11th April 1980 by the United Nations and entered into force on 1st January 1988.
Introduction - The concerns of our clients are always paramount and it is for this reason we have embarked upon the “Doing Business in the Republic of Trinidad and Tobago” Series of Legal Article - During this series our Attorneys will be giving you a brief insight into the areas of law which from our professional experience, touches and concerns businesses and individuals wishing to establish themselves within our borders.
The recent economic downturn have resulted in many of us tightening our belts. For most of us, this means having to forgo our annual overseas holidays, having to downgrade from going to restaurants to having our family meals at food court. Everyone is looking for ways to reduce their spending. We often overlook the very obvious method (and also substantial) savings through refinancing.
Certificate of Feasible Function under Local Regulation of DKI Jakarta Number 7 of 2010 on Building - Indonesia
Building utilization is an activity of utilizing a building in accordance with the functions which is specified in the building construction license including maintenance, and periodic inspections activity. Building utilization can only be performed after the owner of the building obtains Certificate of Feasible Function.
Local Government of DKI Jakarta has issued the Governor Regulation of DKI Jakarta Number 38 of 2012 on Green Building (“Governor Regulation No.38/2012“) the regulation regulates the implementation of the concept of energy efficiency and environmentally buildings. Green building means a building that is responsible against environment and resource efficiency since the planning, construction, utilization, maintenance, until deconstruction (Article 1 number 11 of Governor Regulation No.38/2012).
Introduction Home ownership can provide you with many benefits: secure shelter, a long-term investment and tax advantages. However, a home is also a major financial commitment. There are ways to avoid costly mistakes that can strain your budget and your patience. This pamphlet contains tips to help you avoid problems when buying a home.
Mary Smith contacted me to assist her in the sale of a vacant lot owned by both Mary and her son, Michael. Mary originally went to a local title agency and was advised that she cannot complete the sale because her son is a minor – i.e., under the age of 18 years. Mary owns a 50% interest in the property, and her 17 year old son, Michael, owns the remaining 50% interest. They have a Buyer ready to purchase the lot for $25,000.00.
Arizona borrowers have two foreclosure options: non-disclosure (aka trustee sale) and judicial foreclosures. Arizona borrowers are not accustomed to judicial foreclosures, as the vast majority of foreclosures in Arizona are non-judicial. However, there are both legal and strategic reasons why a lender might choose judicial foreclosure over a trustee sale.
In the Republic of Cyprus, a foreigner can easily proceed with the acquisition of immovable property. There are three stages which have to be followed in order for such acquisition to be effected. The first stage is the drafting and the execution of an Agreement for the acquisition of immovable property.
Business sale and purchase of property has been demanded by many people. In performing the business sale and purchase of property, it does not only need an agreement between seller and buyer, but there are things that shall be performed by both parties as one of the obligations to State. The relevant obligation is payment of a tax in acquisition of property that should be performed by buyer and seller.
Under Article 1 of Law Number 20 of 1961 on Revocation of Rights of Land and/or Objects Over the Land (“Law No.20/1961”), President in an urgent circumstance after hearing the Minister of Agrarian Affairs, Minister of Justice and the related Minister may revoke the rights of land and/or objects over the land.
There are differences between bankruptcy and loss mitigation when it comes to solving your mortgage problems. A Broward County foreclosure attorney explains. When you are facing foreclosure, you may consider alternative measures such as bankruptcy or loss mitigation. It is important to understand the differences in evaluating which option might be best for you.
The traditional method to handle a contract dispute has been to use the court system which has a long process and can be very expensive. Another alternative is binding arbitration which uses an outside third-party known as an arbitrator to hear, consider and decide the dispute. When faced with a contract dispute, parties frequently hire attorneys and use the court system to resolve their dispute.
Medical offices need special lease provisions. All leases need negotiation and revision, but leases for physicians need a little more. In this article, I discuss some advanced lease provisions that medical practices frequently need. For a basic explanation of commercial leases, refer to my article Understanding Commercial Leases.
A class action lawsuit is brought collectively by a large number of people who harbor the same legal complaint against the same defendant. Products liability is a common area in which class action lawsuits are commenced. In general, you don’t have to “join” a class action lawsuit to participate.
The aftermath of the 1974 occupation by Turkey of the northern part of Cyprus and subsequent division of the island is still keenly felt by citizens of both the Republic of Cyprus in the south and the Turkish Republic of Northern Cyprus (TRNC) in the North.
The number of land disputes pending at various courts in Ghana bears testimony to the problems surrounding land acquisitions. One false step in the acquisition process has the potential to lock the buyer in an expensive and never ending litigation in Court. This article provides some practical steps a potential purchaser can follow to reduce the risk of litigation
It has become widely accepted that it is important to have a real estate lawyer Seattle when you are buying an existing home. After all, you will need a real estate lawyer Seattle to help you to negotiate a purchase and sales agreement with the seller and to make sure the agreement contains the appropriate protective clauses.
Have you ever rented an apartment for yourself or one of your kids and wondered if all your rights are being protected and respected when moving into a new apartment? The relationship between a landlord and renter is based on trust and respect. Yet many people feel that their landlord took too long to fix something in their unit or that they have been scammed out of their security deposit at the end of the lease.
Background - The regulation on breaking, separation, and merging of land is contained in the Government Regulation Number 24 of 1997 on Land Registration (“GR No. 24/1997“) and the Agrarian State Minister Regulation/Head of National Land Agency Number 3 of 1997 on the Implementation of Government Regulation Number 24 of 1997 on Land Registration (“Agrarian State Minister Regulation No. 3/1997“).
Background - The Province of DKI Jakarta is the one of the biggest city in Indonesia. As the capital city of Indonesia, DKI Jakarta provides various kinds of service to the public. One of its services is related with building development licenses. Along with the times, the Indonesia Government has set out regulation on Building, namely Law Number 28 of 2002 on Building ("Law No. 28/2002").
Dominican Republic has best legal framework for the Foreign Investment - Legal System - The Constitution of the Dominican Republic defines the government system as being democratic, republican and presidential. It also provides that the exercise of power is divided among three independent branches: executive, legislative and judicial.
Legal Aspect of the Grant of Right to Build or Right of Use Over the Right of Ownership Land - Indonesia
Under Article 35 paragraph (1) of Law Number 5 of 1960 on the Principle Provisions of Agrarian (“Agrarian Law”), it is stated as follows: “Right to Build is right to establish and to have buildings over land that is not his own, with a maximum period of 30 years.”
The HUD-1. With every refinance transaction you will need to review and sign a HUD-1 form – also known as a settlement statement or just the HUD. The HUD is a breakdown of all the costs associated with your refinance.
From the moment foreign investors enter Ukraine they face a “non-Western standard” business environment, confusing and unstable legislation, and bureaucracy. One would need to spend a lot of time and effort to get a clear understanding of the local “rules of conduct”. That is why many investors prefer to have a local partner rather than be on their own.
Some would have you believe that Scots law allows anyone to be the Lord of, if not all he surveys, at least a square foot of the Scottish Highlands. One site advertises souvenir plots “from just £29.99” and claims that, in return, you can use a clan crest, coat-of-arms and tartan. By “Scottish tradition”, it says, ownership of the plot “legally allows” you to use the courtesy title of Laird, Lord or Lady. But what is the legal truth behind these offers of instant ennoblement?
Overview of Immigration Program for Investors in Dominican Republic: How apply for Residence and Citizenship
Every citizen, no matter the country of origin, can apply for the Dominican residence and then for citizenship, providing that fulfills all requirement set forth by Dominican state for those purposes.
The Turkish Parliament has enacted a law, Law No 6302 (“Law”) that enables foreigners to buy real estate in Turkey in line with the interests of the country. Accordingly, compliance with legal restrictions, provided that the interests of the country where this is justified in terms of international bilateral relations established by the Council of Ministers, citizens (individuals) of foreign countries may acquire immovable property and limited real rights in Turkey.
Facing foreclosure is never easy, but there may be alternatives. If your lender is not willing to negotiate short sales or a loan modification, filing for bankruptcy may be able to help you avoid foreclosure. Many American families are unable to keep up with their mortgage payments. In some cases, money lenders are willing to let their borrowers file for loan modification or short sales.
Condominium is a multilevel building which is built in an area that is divided into sections which are structured functionally, whether horizontally or vertically that constitutes as units in which each can be owned and used separately, mainly for housing complemented with common equipment (bagian bersama), common facility (benda bersama) and common land (tanah bersama). Condominium is regulated in the Law Number 20 of 2011 on Condominium (“Law No. 20/2011”).
Background - The purpose of the issuance of Regulation No. 6 is to implement the provisions of Article 7 paragraph (2) and paragraph (3) of Presidential Regulation of the Republic Indonesia Number 27 of 2009 on One Stop Integrated Services.
For various reasons relating to the increase in property tax appeals in recent years, the Michigan Tax Tribunal has found itself in a position where numerous procedural changes are necessary in order that it might keep up with claims. The following article addresses these changes.
With the constant development that occurs in real estate, zoning restrictions are placed on what can be built and how it can be used in a certain area. Commercial developments are a wide reaching issue in a world that is always looking to expand. Real estate in California is sought after by many looking to gain a spot of their own along the golden coast.
If you own property and you wish to rent it out to residential or commercial tenants, you may be uncertain of how to get started or of what type of help you need. One question that you may have is whether a real estate lawyer Seattle can assist you with your lease. Likewise, if you are a commercial or a residential tenant who is about to enter into a leasing agreement, you may be uncertain as far as where to turn for legal advice and guidance.
In the event that the individual or the legal entity that has conferred power of attorney to a lawyer in Turkey files a lawsuit or initiates a collection proceeding, he is under the obligation to provide collateral. However, the citizens or legal entities of the listed countries are excluded.
Following the said draft becomes law upon the decision of the parliament; foreigners will be able to purchase property from all sides of Turkey provided that they comply with the legal limitations. It should be noted that, the condition of reciprocity is removed for the property acquisition of foreigners with the Draft Version. The maximum area to be purchased by a foreigner is increased from 2,5 hectares to 30 hectares with the condition of a project.
For many individuals, buying their first home is difficult because of the need to save up enough money to make the initial payment or to cover the closing costs. However, you may be able to use funds you saved in your traditional IRA to buy a home without incurring the 10% early withdrawal penalty (but you will probably still have to pay the regular income taxes on the distribution).
Builders will often have to deal with alleged construction defects that can cause serious litigation issues. From problems with installed air conditioning to weak structural framing, the common defects that are seen in the construction industry can cause serious problems in real estate law.
General View Over the Provisions Applied to Leases of Real Estate within Turkish Code of Obligations No. 6098
1. Upon the legitimacy of the New Code of Obligations, what kind of a legal arrangement regarding the Real Estate Leases has been enacted? - The Law on Real Estate Leases numbered 6570 shall be vanished upon inurnment of the provisions embodied in the context of the Turkish Code of Obligations (T.B.K) numbered 6098 as of the date of 01.07.2012.
This article covers the eligibility criteria for homeowners who wish to lower their interest rates and monthly mortgage payments through the Home Affordable Refinance Program (HARP). Although the country is showing signs of recovery from the economic crisis of 2008, many Americans are still feeling its effects. One wide-spread problem concerns the large number of “underwater homes”, or homes as to which the homeowner owes more on the mortgage than the property is worth.
When the government has condemned you land this is often referred to as eminent domain. When faced with eminent domain, you should consider obtaining the assistance of a condemnation attorney. Before you choose a condemnation lawyer to represent you, there are some questions that you may want to ask the attorneys you are interviewing:
If you are considering purchasing investment property, rather than a primary residence, getting help from a Seattle real estate lawyer can be especially essential to ensuring that you make a wise and informed choice. A Seattle real estate lawyer will assist you with all aspects of the transaction and will help you to do your legal due diligence before you buy the property.
Ukraine has long been called “the bread-basket of Europe,” and for one excellent reason: its fertile, black soil. The estimated value of this treasure is anywhere between 40 and 80 billion dollars. The only problem with investing in such an obviously profitable business was an artificial bureaucratic/legislative barrier commonly known as the “moratorium on alienation of farm land” (the “Moratorium”).
Can my deposit be used for my last months rental and other obligations to the landlord?
Is it true that my tenant can in terms of the Consumer Protection Act (“CPA”) now cancel the lease by giving 20 business days’ notice, even if it is in the initial fixed term of the lease?
This article provides an overview of the booming real estate market in Ghana. The article looks at some latent problems in the sector and how statutory intervention can be used to accelerate growth in the real estate industry. It is an expansion of an earlier written article.
Frequently, general contractors will work with the same subcontractor or supplier on two separate, unrelated projects. When that happens, the situation may arise that on the first project (Project A), the subcontractor defaults on its contract, resulting in a back-charge that exceeds the subcontractor's contract balance, i.e. the subcontractor owes the general contractor money.
In previous issues of this magazine, I covered the use of a Power of Attorney (a “POA”) in real estate transactions for those situations in which a party (the “Principal”) is not available to sign documents at a closing and appoints a third person, known as the Attorney-in-fact (“AIF”), to sign on his or her behalf.
Persons, be either Dominican nationals or foreigners desiring to buy, resell or in any way dispose of real estate in the Dominican Republic should note that Dominican Republic real estate laws and regulations particularities make it preferable to conduct a due diligence and review process through independent counsel in order to verify legal and tax status of the property before any formal decisions or payments are made.
Learn how California’s Senate Bill 53 will change escrow law and how broker’s in-house escrow services must adapt. A number of real estate brokers in California figured out a long time ago that they could make more money by utilizing their own in-house escrow services (i.e. “broker-controlled” or “non-independent” escrows) instead of turning business over to more traditional “independent” escrow companies.
Definition of adjudication based on Article 1 point 8 of Government Regulation Number 24 of 1997 on Land Registration (“GR No.24/1997″) is “activity which is performed in the process of land registration for the first time, including collection and determination of the fact of the physical data and juridical data concerning one or more objects of land registration for the purposes of its registration”.
If you are planning to acquire real estate in Greece you have to set a perfect plan in order to put everything in the right place and to avoid any surprise. First and most crucial move is to find a specialized in Property Management or Real Estate Law Firm and a Real estate agent who will guide you step by step in the whole transaction.
By Rydstrom Law
Wrongful Foreclosure; Wrongful HAMP Denial: No tender is required to enjoin a foreclosure sale prior to the sale, in the event of [the bank’s] non-compliance with Civil Code § 2923.5 (Mabry v. Superior Court (2010) 185 Cal. App. 4th 208). However, even after the sale, a void, fraudulent or mistaken foreclosure process, sale or trustee’s deed can be set aside [or further enjoined].
The Italian term “Avvocato” (from Latin “advocate”) is normally translated with similar equivalent terms in the English language, namely with the expressions “Italian lawyer” or “Italian solicitor” in England, Wales and Ireland or “Italian attorney” in the United States.
A depressed commercial marketplace has resulted in a tenant’s market. Frequently, the lease terms for "Mom and Pop" shops are spelled out in the lease’s boilerplate provisions. Consider various scenarios and determine who – the landlord or tenant – is in the best position. By: Valerie Marciano, Esq.
This article details the basics of representing the homeowner facing a Maryland foreclosure. With the continued economic crisis, it is important for lawyers to know how to represent a homeowner in foreclosure. While much discussion has been devoted to deeds in lieu of foreclosure, short sales, and other ways to help a homeowner exit their home, not much discussion has been devoted to how to challenge a wrongful foreclosure. This article covers the basics.
Each year hundreds of buyers are attracted to purchasing real estate on the island of Cyprus. With a system of registered land and a legal process broadly based on that of England and Wales, buying a property in Cyprus is relatively straightforward. In this article we will outline some simple precautions that a purchaser of property in Cyprus can take in order to protect his investment and ensure that his acquisition proceeds as smoothly as possible.
When buying property in Cyprus there are a number of additional costs and taxes of which every buyer should be aware prior to committing to an acquisition. It is extremely important that a potential buyer plans for and takes into account each of the following incidental costs that will occur when buying property in Cyprus.
With the spring buying season quickly approaching, both buyers and sellers are wondering what the new season will have in store for the housing market in Chicago. According to a new report, the landscape for the housing market may not be as daunting as past seasons. The number of homes for sale has been slowly declining, giving both buyers and sellers a little more confidence and helping list prices stabilize.
Property records are not always clear when it comes to defining the boundary lines that belong to the owner. Due to the vagueness, many boundary disputes can arise. When your property sits along the line of another person’s property questions may come up as to how far each of your line of ownership extends.
Are you overwhelmed by debt? Filing for bankruptcy is not your only option! Through loan modification, short sale, or debt settlement, you could get your life back on track. Although some experts are hopeful that the economy is improving and will continue to improve, many families across the U.S. are still feeling the negative effects. Some have lost their jobs, others, their homes.