Real Estate Law Articles
Articles written by attorneys and experts worldwide
discussing legal aspects related to Real Estate.
This article discusses the legal regime established by the new regulation of the Ministry of public Works as regards foreign-related real estate acquisitions in Turkey.
The author gets to the heart of short sales and foreclosures.
The author discusses the types of scam artists that are targeting distressed homeowners.
So you have been served with foreclosure papers, a hearing was held, the sale date has passed and your property is now in the hands of your lender. It was a stressful and often frustrating experience, but whew… it’s over! Or is it? The author discusses the process.
With the country in the midst of a national housing market crisis, many homeowners have found themselves in the precarious position of owing more on their houses than they are currently worth.
More and more people are simply packing their bags and walking away from their homes, convinced there’s no better way to deal with underwater mortgages. While it’s undoubtedly true that you should keep all your options open as you struggle with a dire financial situation, it’s just as true that you should carefully consider all your options before acting.
Several major guide-lines of necessary steps towards a fast and successful property resale in Bulgaria.
There are three principal ways in which individuals acquire ownership in real property–as tenants by the entireties, as joint tenants with rights of survivorship, or as tenants in common.
Since 2009 when the new Bulgarian Condominium Ownership Management Act came into force many important questions have been continuously asked by owners. I have tried to summarize below some of the most frequently asked questions.
A self help guide to avoiding disputes when building or renovating your property in the St Lucia.
There are very good opportunities for investment in St Lucia. Once you have decided what property you wish to buy, you will need an alien landholding licence. This article guides you through that process.
Acquisition of business has several stages, including gathering of information about acquired company, preparing of documentation, negotiation, execution and closing of transaction. The quality of research and investigation in the acquired company affects not only on the position of the buyer and seller in the negotiations, but also the company's activities in future.
Mitigating Loss When You Have Something to Lose: Deficiency Judgments, Credit Rating and Public Image
The real estate crisis reaches every strata of society, including financially stable individuals and companies. There is no one-size-fits-all approach, however, and affluent clients have unique concerns that have been largely over-looked by the media and governmental programs. This article discusses strategies for resolving mortgage problems for people who have good reason to worry about deficiency judgments, credit rating, and public image.
“The principle of "let the buyers beware" applies to purchasers who, without representation are on their own. It is important that lenders and vendors are protected, but it is also equally important for purchasers, particularly a first time buyer to be protected and be advised on benefits and opportunities that they would have otherwise missed” says Sonia Bush, The Real Estate Lawyer in the Cayman Islands.
Introduction: Thai law strictly prohibits freehold ownership of real property by foreigners. Essentially, only Thai citizens can “own land.” Despite this restriction, the Thai government has left several options open for foreign individuals and corporations seeking long-term property interests.
Introduction: The Condominium Act of B.E. 2522 (1979) (as amended) delineates the rules regarding foreign ownership of Thai condominiums. Essentially, foreign investors may own buildings but not land. Therefore, condominiums offer ideal investment opportunities. However, the Thai statutes place a few restrictions on the condominium investment.
A hurricane attorney can help you navigate the difficult process of homeowners and hurricane insurance claims.
This article addresses the important issue of ascertaining whether there exists a 'subject matter' in a sales agreement relating to a subdivided building.
Introduction: Since 1999, the Thai government has allowed its citizens who are married to foreigners to own land in Thailand. This was a stark contrast to a former law which did not allow even its own nationals to own land within the State owing to their marriage to a foreigner. Back then, the government considered a mixed couple as entirely foreign and thus, not qualified to own land in Thailand.
Litigation Against Lenders and Banks - Is It For You?
Chapitre VIII: De l'arbitrage, Article 306 Toutes personnes capables peuvent souscrire un compromis d'arbitrage sur les droits dont elles ont la libre disposition.
This Article describes general grounds for Bid Protests on City, County, Local Agency and State Government Public Contracts in the State of California and stresses the urgency to file a Bid Protest very, very quickly after bids are opened to avoid losing your rights to file a successful Bid Protest. Protest procedures vary so check the project manual, local statutes or ordinances on deadlines and procedures, and - immediately - consult a competent and experienced government contract attorney.
Deadlines, issues and warnings on filing lawsuits for California construction defect damage cases for private and residential construction jobs
A Q & A guide to corporate real estate law in Poland. © This chapter was first published in the PLC Cross-border Corporate Real Estate Handbook 2011/2012 and is reproduced with the permission of the publisher, Practical Law Company.
Real Estate law is widely regulated within the Civil law according to Turkish regulations. Within this article, it is intended to provide a niche understanding of property purchase and sell procedure in Turkey.
A partition case in Rhode Island is an equitable, legal action in which a person corporation or legal entity can force the sale of real estate against another co-owner or life tenant.
Clients frequently ask how they can protect themselves when they enter contracts for home improvements projects.
Hurricanes are becoming a more and more severe natural occurrence. Learn more about exactly what a hurricane is.
The myriad options presented to home buyers when titling real estate have significant tax, asset protection, and estate planning consequences.
This article refers to the several recourses available to enable a syndicate of co-ownership to collect the contributions for common expenses (condo fees) from co-owners who are negligent in remitting these expenses.
A brief explanation of British Columbia's consumer protection legislation for pre-sale purchasers of condominiums, and comment on how the courts have recently enforced the legislation in disputes between developers and purchasers.
Your practice is doing well. Interest rates are low. Your lease is about to expire, and you are tired of paying rent. You want to buy a commercial property (the “Building”) that will be owner-occupied. You may also have additional space available for rent. After some time, you may want to sell the Building or rent it out in its entirety. So what do you do?
On February 16, 2010, Canada’s Finance Minister announced changes to federal mortgage rules that will take effect on April 19, 2010. The new rules will likely affect all residential real estate purchasers in Canada. This article discusses the serious financial impact of the new rules on condominium pre-sales.
In Spain, to obtain this information, we have to go to 3 different sources of information: land registry, Catastro, and Local Council. It creates disparity of information, and differences between the registration of the property. UK conveyance is being becoming more “impersonal”. Now, searches can be done electronically, changes of contracts can be done by internet, even deeds and mortgages can be done by electronic way.
There is an inherent limitation regarding the power of eminent domain.
Joint ownership of real property can create a legal partnership even when the creation of a partnership is not the intent of the parties.
The author describes the legal aspects attached with the purchase and/or sale of real estate in India.
As of June 1, 2010, Mobilehome Park Owners, Landlords and Property Management Companies who use consumer reports in their daily operations, ie. to screen applicants, are required to create and implement reasonable policies and procedures to identify and assist in combating Identity Theft.
A real estate investor’s projects increase in size and volume as the investor evolves. With the growth, an investor might need more capital for down payments and development costs. The investor might already have exhausted all available debt financing, however.
With more project owners demanding the use of Building Information Modeling (BIM), project delivery is necessarily carried out through greater contributions of design input by the general contractor and the major trade subcontractors. The design professionals are no longer the sole authors of the project design. This collaborative project delivery method has been called integrated project delivery (IPD).
A life in condominium is different from life in ordinary house. Tenants not only have next door neighbours but also have upstairs and downstair neighbours. In condominium there is also a governing body that regulates the management of the condominium environment, maintenance and the construction of environmental infrastructure and social facilities for the purpose of living together with all tenants in condominium.
Housing and residence are every human being basic needs. With the increasing number of inhabitants, the land space provided becomes very limited. Because of that, houses are made in a multistory structure or commonly known as condominium (rumah susun).
The purpose of the Government Regulation No. 41 of 1996 (the “GR No. 41”) is to give a legal certainty for foreigners who own property in Indonesia. Foreigners who are domiciled in Indonesia are foreigners who give benefits for national development.
Indonesia as a developing country is one of the investment destination for developed countries to expand their global business activities. That is why more foreigners domiciled in Indonesia to do their business. However, there are boundaries or conditions for foreigner to own a residence especially a strata title, which is going to be discuss further here.
Batam has a strategic geographical location as the closest island to Singapore and Malaysia, which strategically located in the international shipping route. As the special zone for multinational trade area, Batam has a special treatment from the Government of Indonesia.
This Article examines the legal situation of Sales of Real Estates to Foreigners in Turkey. The recent changes in Turkish legislation in regard with real estate had been also taken into account. One of the influence of globalization to nation states is concerning with sales of real estates sale to foreign entities. In this article, you can find the story of EU candidate Turkey and Europe in relation with sales of real estates.
This text reports some myths relating to the contingency fund that we identified through the exercise of our specialty. Following is the list of the syndicate's obligations relating to the contingency fund.
How to File a Mechanics Liens under California Law within Legal Time Limits and Lien Enforcement Procedures
There are strict and very very short deadlines for recording and filing suit on a mechanics lien (or a stop notice) on a private construction project in California that run from "completion" of a construction project, or from the owner's recording of a "notice of completion" or "notice of cessation of labor" on a project. Failure to meet these deadlines for recording and filing suit can result in the complete loss of your lien rights and your ability to collect what is owed.
California Law on Using Unlicensed Construction Contractors, their Hiring, Non-Payment, and Liability Risks.
While the laws might seem to some to create an opportunity for an owner or general contractor to hire an unlicensed person at a discount very cheap to what an experienced licensed contractor might charge for the same job, and then still be able to avoid paying the unlicensed builder and even sue him or her to get back the money you paid them, this is not a good idea.
Condominium is a multistory building for residential purpose, which every unit of it can be owned separately. As a residential building that can be owned separately, tenants of condominium have boundaries in making use of spaces and facilities inside of condominium. In a condominium there are common equipment, common facility, and common land.
Not all land has a pure rights over land. There is a Right to Manage (Hak Pengelolaan Lahan – HPL) over some lands, like in some areas in DKI Jakarta, for example Senayan, Kemayoran, Pulomas, etc.
A life in condominium is different from life in ordinary house. Tenants not only have next door neighbors but also have upstairs and downstairs neighbors. In condominium there is also a governing body that regulates the management of the condominium environment, maintenance and the construction of environmental infrastructure and social facilities for the purpose of living together with all tenants in condominium.
This article thoroughly discusses the legal framework on the lease of real property in Turkey.
Under premise liability law, property owners and tenants are liable for injuries and accidents caused by their failure to maintain a safe environment for visitors, clients, and members of the general public.
During this era of record high home foreclosure and unemployment rates, many Americans are behind on mortgage payments and are understandably concerned about losing their family home.
Buildings are made to support people’s need of spaces. Building has many functions such as work space, business place, education place, recreation place and many more. In developing countries, especially for small countries, building is used to maximize the use of spaces.
The rental of dwellings in an immovable in divided co-ownership is common in Quebec. Nevertheless, this is a delicate operation, requiring several measures of precaution and should never be done blindly.
A practical guide about how to build a construction for a country house in Spain. With taxes, steps of the process, legal and administrative requirements, licenses, and permits for construction, and explanations of the main concepts.
Many Americans unfortunately find themselves having difficulty paying their mortgages. When a family falls behind on their mortgage payments, there are a number of ways to deal with the situation. Houses go into foreclosure for a variety of reasons including loss of employment, divorce, injuries, illnesses and disabilities.
If you have decided to buy a home in Spain, , follows some information regarding the legal aspects of the purchase. Buyers of property in Spain naturally find the formalities and procedures involved, strange and confusing and this is often compounded by problems of language and difficulty in obtaining local professional advice that they can understand.
Before explaining the bad things, please let me clarify that if you use a solicitor, and he follows normal procedures, the Spanish system allows for 100% safety. When talking about illegal houses , the cases are diverse, but in all of them their is a certain element of blame to be assigned to the purchasers in different degrees. In 100% of the cases their situation is unfair.
If you wish to calculate what your expenses will be if you sell your property in Spain, please read this article.
If you have decided to purchase a property under construction, choose a good solicitor.
Subject advanced for your attention, is very actual in terms of protection of the interests of investors operating and those who intend to invest in the sphere of subsoil use in the Republic of Kazakhstan.
This text provides a brief and concise description of the necessary steps for the acquisition of real estate property in Greece.
In this time of economic crisis where home values have plummeted, often real estate owners are faced with the ugly specter of foreclosure proceedings. It is important to note that there are options to save your home and/or preserve your credit rating. Review this report.
Capital gains tax on real estate is imposed on any gaining one might have from selling his or hers rights at a real estate. The tax is imposed on the selling of ownership or lease which is above 10 years.
Legal comments on the matter concerning the Preliminary contracts for sale-purchase and construction - one or two contracts implemented in one document?
Thailand property laws do not greatly differ from those of other countries. Excepting the prohibition on foreign ownership of land, the same legal concepts and regulations operate in dealing with real property.
If your property is sinking or threatened by nearby land movement, this article is for you. Soil subsidence and landslides are devastating and often times not covered by homeowners insurance. Thus, if you are damaged by soil subsidence or landslide, you may be facing significant personal and financial loss. Time is of the essence! This article will walk you through what you need to do if you are dealing with a soil subsidence or landslide problem.
Land development and construction in Thailand are primarily regulated by two laws: the Building Control Act and the Town and City Planning act, both of which have been passed and continuously revised starting in 1992.
Condominium units are the exception to the general rule that foreigners are not allowed to have any direct interest over real property in Thailand.
The use of a Thai holding company as a means of circumventing the prohibition against foreigners having a direct interest in land may no longer hold true in the near future. With the advent of the proposed amendments to the Foreign Business Act and the continued application of previously issued policy guidelines, land registration in favour of a Thai limited company has resulted in a more stringent and rigorous process.
In a lease agreement, the owner of the building or land, commonly known as the landlord, relinquishes in favour of the person leasing the property, known as the tenant or leaseholder, temporary possession and occupation of the premises for a fixed sum of money. Leasehold in Thailand is governed primarily by the provisions of the Civil and Commercial Code particularly the provisions on hire of property.
In an effort to encourage the sustained growth of its burgeoning Thailand property sector, Thai officials deemed it necessary to further extend the period of reduced tax rates on property transfers.
Ideally, contracts are forged with the view of attaining a fair and just agreement between the parties. In practice, however, this is not always true as market forces, unequal bargaining positions and fraud mire the negotiation process. Thailand real estate contracts suffer from the same malady as developers and buyers often stand in unequal and sometimes opposing terms.
Thailand is a country blessed with an abundance of rich natural resources. Its lush pristine forests are home to a vast variety of species of flora and fauna indigenous to the country. As such, the Kingdom has taken great pains in preserving its natural wealth by passing laws designed to control and regulate the amount of waste and pollution produced each year. Thailand residents desire to live a quality life while living in a Phuket villa or Bangkok condo.
A homeowners association (HOA) is a legal entity that governs a community of homes, including subdivisions, condominiums, townhomes, or planned community. HOAs operate within state statutes to enforce regulations and collect assessments from homeowners, while also taking care of maintenance repairs of common areas.
Although Foreigners are not allowed to own land in Thailand, the law does not prohibit them from owning structures and other improvements constructed on lands. This gives foreigners the latitude to set in place legal security measures to protect their ownership rights over the property.
As the real estate market develops in Turkey the Condominium Law is becoming the center of attention. Turkish Parliament amended the Condominium Law No. 634 with a new Law No. 5711 and it was published in the Official Gazette at November 28, 2007 (‘Turkish Condominium Law’ or ‘TLC’).
Depending on the circumstances surrounding the sale, you may have remedies available under Massachusetts law to recover from the party who failed to disclose the defect.
In this article, the author will be discussing what happens if you change your mind after signing an offer or purchase agreement.
Generally, the deposit a buyer puts down in respect of an agreement of purchase and sale is only released by the listing brokerage in very limited circumstances.
This article covers various standard terms in the agreement of purchase and sale of property relating to parties, property, purchase price, deposit, schedules, fixtures and chattels, rental items, dates/searches & requisition date, conditions, agreement in writing, and execution and acknowledgment.
This article discusses some scenarios applicable to compensation for the services of Realtors.
At any time before a buyer can make an offer to purchaser property, they must sign a “Buyer Representation Agreement” with the brokerage. This article discusses the implications of the agreement and obligations.
So what are the legal obligations of Realtors? In a nutshell, they include professional, ethical, fiduciary and contractual obligations, each of which will be briefly discussed in turn.
Under “Premise Liability” law, landlords and tenants are generally held liable for injuries and accidents caused by dangerous property which has shoddy building materials, hazardous constructions, faulty design, or clutter.
Injuries due to landlord negligence usually occur when unscrupulous renters try to maximize profits by spending just the bare minimum on property maintenance. These landlords usually own properties in poor neighborhoods while boasting low rent as a come-on to tenants who cannot afford living in better neighborhoods or who cannot pass a credit or background check. Besides the threat it poses to tenants’ safety, landlord negligence may also lead to declining property values in entire neighbors.
Prospective buyers of new apartment developments in Hong Kong are often misled by artists’ impressions of grand clubhouses, photos of unobstructed sea views or lush greeneries appearing in sales brochures even though the development sites are actually located near public residential housing, landfill sites or sewage treatment plants.
An inside look and unfocused analysis of the Collins Center for Public Policy foreclosure managed mediation process and hopeful prospects for success in the State of Florida and perhaps around the foreclosure-ravaged country.
As an Ontario homeowner wishing to sell your property, you will likely ask your Realtor to list it (among other things). Much of the discussion of listing the property revolves around the appropriate listing price. Here, the Realtor will generally conduct a comparative market analysis. He or she will look up comparable homes in the nearby neighborhood that sold recently. The article discusses some of the listing agreements and processes involved with selling a property.
A Realtor is initially engaged by a buyer to help find the right type of home at the right price. The Realtor will advise on the comparative market value of the home and discuss negotiation strategy, the responsibilities of the buyer, and various standard and non-standard terms and conditions in the agreement.
As a homeowner, the thought of being a victim of real estate fraud is scary. While uncommon, identity fraud exists and should be guarded against. A fraudster, for example, can impersonate the registered owner of real property and transfer the property to him, herself or a third party. Moreover, a fraudster could acquire a mortgage fraudulently through false information or identification and then run away with the money. This could happen repeatedly with the same property before being discovered.
Organized real estate in Ontario is made up of: brokerages, brokers, salespersons, the designated government authority, and federal, provincial and local real estate associations and boards. Each so called “actor” will be examined in turn.
The Michigan legislature has recently enacted a new Foreclosure Prevention bill into law. This law is designed to give homeowners more time to work out a modification on their mortgage and remains in effect for two (2) years from the date of enactment.
As a follow up to my previous articles about the Agreement of Purchase and Sale, in this article, I’ll be discussing the execution and acknowledgment section of the Agreement of Purchase and Sale.
In this article, I’ll be talking about inspection rights, price adjustments, and the Ontario Family Law Act.
As a follow up to my previous article about Agreements of Purchase and Sale (for residential properties) which dealt with the Information Section, Price, Deposit, Irrevocability Clause, and Completion Clause, I will continue with discussion highlighting certain parts of OREA’s standard form. In this article, I’ll be talking about chattels and fixtures, rental items, and title search.
This is the first of a series of articles about Agreements of Purchase and Sale in Ontario.