Real Estate Law Articles
Articles written by attorneys and experts worldwide
discussing legal aspects related to Real Estate.
This past summer the California Legislature approved Senate Bill 931 (SB 931) amending Code of Civil Procedure CCP §580e to provide for anti-deficiency protection to certain short sales.
The joint tenancy deed is one of the best tools to transfer real estate between spouses, partners and heirs. Its principal characteristic and its advantage over holding title as a tenant in common, is that a joint tenancy deed transfers title immediately upon the death. This is known as the right of survivorship.
While there are many reasons for the rise in bankruptcy filings, with working families falling victim to job losses, the collapse in the real estate market and plunging home values is one of the principal reasons for the rise in filings.
The current housing crisis and the fact the a good majority of homeowners are "underwater" has resulted in the many, many homeowners asking the question whether or not it is wise to "walk away" from their mortgage.
In August, the Mortgage Bankers Association (MBA) released data suggesting that more and more people were falling behind on their mortgages. According to a report in The Tennessean, the MBA data showed that 10.47 percent of mortgages in the state were past due between April and June, compared with 9.89 percent in the first quarter of the year.
As the owner of a Florida condo unit, you will need to purchase an insurance policy to cover your personal property. Your building will generally be covered under the condo association’s master policy.
You will need to purchase a separate insurance policy for flood damage coverage in Florida. This policy will cover damage from waves, ground water runoff and overflowing bodies of water.
After your home has been damaged or destroyed by fire, you should notify your insurance company and thoroughly read your insurance policy to see if you can file a Florida fire damage claim. To preserve your fire damage claim, you will need to be completely honest with the insurance company.
An insurance agent negligence claim can arise when your insurance agent makes mistakes that lead you to believe you have coverage that you don’t have. If you are the victim of a negligent insurance agent, you may be able to seek compensation for damages.
Steps to be taken after purchase of property.
In the past four years we have become more familiar with the terms: Short Sale, Foreclosure, and Bankruptcy. Creditors have become increasingly aggressive and have resorted to bullying the consumer. As consumers we must know what our legal rights are in order to show your creditors that this behavior is unacceptable.
There has been a growing trend to hold residents in buildings accountable for creating second hand smoke that affects other residents’ ability to enjoy and live in their apartments.
The true crisis in public housing is the fact that it still exists.
With the revelation that many big lenders were "robo-signing" documents - signing them without verifying the accuracy of the information - to move foreclosures through the process, several banks, including JPMorgan and Bank of America, temporarily halted foreclosures to ensure that all paperwork was in order.
Ministry of Housing and Urban-Rural Development of PRC issued the Measures on Administration of Lease of the Properties Sold as Commodity (“Measures”) on 1 December 2010. The Measures will take effect from 1 February 2011, which will then replace the Measures on Administration of Urban Property Lease promulgated in 1995. The Measures apply to the lease of commodity properties constructed on State-owned land in the planned urban area.
By L Y LU & Co
With effect from 1 January 2010, the minimum value of foreign acquisition of a residential property is now set at RM500,00.
According to Bulgarian Inheritance Act each person who has rounded 18 years and is not under full interdict due to dementia and is capable to act reasonably can dispose with his property with a will.
In the past decade purchasing property in Turkey became very popular through holiday home owners and investors worldwide. The main purpose of this brief article is to explore the legal structure and the procedure of purchasing real estate in Turkey for foreigners.
Legislation regarding purchasing of real estate in Turkey by foreign investments have changed many times over the past years. Supreme Court decisions, international or political developments and economic necessities are some of the pushing factors of such amendments.
Occasionally clients say that they cannot be present for a real estate closing, and ask if they can sign their documents in advance. Depending on the circumstances, particularly if the individual is the Seller, the closing agent may be able to accommodate this request and have the documents signed prior to the actual closing date.
By K&P Law Firm
The importance of real estate transactions continues to rise, however the culture of legal consulting for such transactions is not formed yet. There are several objective and subjective reasons for reluctance to apply for the services of a lawyer for performance of the real estate transactions in Armenia.
Federal Programs for home loan modifications during bankruptcy.
The building has an important part as the place for human being to conduct their daily activities. The regulation on the building is the Law Number 28 of 2002 on Building (the “Building Law”).
The Code on the Amendment of Land Registry and Cadastre which was enacted on the 18th of May 2012 and published on Official Gazzette numbered 28296, amended the Land Registry Code’s article 35 which is related to the reciprocity principle.
Foreigners are not allowed to own land in Thailand. However, there are avenues available for foreigners to legally acquire a house or condominium for long-term possession. We have listed below the ownership scheme options for both house and condominium acquisitions in Thailand and other pertinent considerations to help you make a choice that best suits your needs and preferences
How New York City's "One Shot Deal" is destroying our city.
Construction services hold a very important and strategic role in achieving various aims in order to support the objectives of national development to realize a fair and prosperous society both materially and spiritually based on Pancasila and the 1945 Constitution. Therefore, it is necessary to arrange a specific regulation of construction services, which is now set under the Law Number 18 of 1999 on Construction Services (“Construction Services Law”).
As the capital city of state of Indonesia, Special Capital Region of Jakarta is a center of economic and trade center in Indonesia, which located in the west island of Java.
The interest to live in the condominium tends to increase particularly to people who live in the big cities. According to Article 7 Law Number 16 Year 1985 on Condominium, it is stipulated that the condominium can only be constructed over land of Right to Own (Hak Milik), Right to Build (Hak Guna Bangunan), Right to Use (Hak Pakai) on State Land or Right to Manage (Hak Pengelolaan).
The crash of the housing bubble has left many homeowners in homes that are now not worth what was paid for them. The current economic crisis and rise in unemployment are leaving many homeowners with mortgages they cannot afford for houses that they cannot sell.
Not too many years ago, this headline would have sounded ridiculous. However, such sentiment seems to be gaining traction outside of the fringe anarchist groups that would normally espouse such behavior. Before the real estate market went haywire, a borrower who did not pay the lender lost his or her home to foreclosure.
By Oreste Law
A common misconception when someone receives a notice to quit (either a 14-day or a 30-day depending on the reasons) is that if you don’t move out by the time stated in the notice, you can be thrown out of your apartment and evicted immediately. That is untrue.
By Oreste Law
What most homeowners don’t know is that they may not have to go to court. Massachusetts has a Home Improvement Contractors Guaranty Fund to which all licensed contractors pay into. The money for this fund is used for the types of cases as described above: where the work is done in an un-workmanlike and unprofessional manner.
The third quarter of 2009 saw a record number of foreclosures across Arizona according to RealtyTrac, an online marketplace for foreclosure properties. For the fifth quarter in a row, Arizona ranked second behind only Nevada with one out of every 55 homes threatened by foreclosure. In the Phoenix area alone, 2009 foreclosures jumped 158% over the 2008 figures.
The mayor of Boston may decide to use eminent domain to solve the problem of a stalled major downtown development.
The purchase of a real property is probably one of the best ways to invest your money as it is a lifetime investment. But on the other hand this might be risky. That is why you must be very careful and spend a short time in investigating the property prior to entering a contract instead of trying to solve the problems afterwards.
Even though many property settlements are hammered out outside the courtroom, the factors judges use in dividing property affect the relative strength of each side's bargaining position.
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 acquisition by foreign real persons in turkey Real estate law has been regulated within the Civil Code according to the Turkish regulations. It is intended to provide a wide understanding on property purchasing and selling procedures in Turkey, either for real and legal persons within this article.
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.
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.