Most Common Types of Real Estate Litigation
Even when you buy or sell a real estate property with the utmost caution, there are still chances of dispute that may demand legal redress. One of the instances where dispute may arise is in a case where the buyer claim that all the information about the real estate property in question was not availed to him or her. The buyer may feel that the real estate property has structural issues that are so expensive for him or her and hence seek legal redress. Litigation may also be necessary where the ownership of the property is not clear. A legal redress comes in to have the judge settle those claims with the intention of validating them or invalidating them and hence making the transactions possible.
In a case where the broker, the buyer or the seller goes against the agreed terms and condition, there may be a need for litigation. Even while the realtors are supposed to hold high standard of conduct, some do not live up to such standards. In a case where they violate the code of conduct, their clients tend to suffer. It tends to be common to have issues of errors and omissions, undue pressure to buy as well as a fiduciary duty.
Neighbors dispute may be yet another reason that may lead to litigation. As a matter of facts, conflict may arise between the owner and the local government. There may be other issues that may lead to litigation which include zoning, boundaries, fences as well as nuisance. Once in a while, the government may demand one to meet some specific requirements for him or her to be issued with a permit.
One would also need to note that foreclosure may be another reason for litigation. The lenders tend to rely on the judicial or contractual foreclosure solutions especially against owners who breach the payment agreement. In a case where the lender demands foreclosure, the real estate owner would need to seek a legal and procedural foreclosure.
Litigation may also come in where there is condemnation. In a case where the government may seek to obtain any privately help property, litigation may come in to determine what the government must pay. In a case where the government demand a real estate property through lawmaking, policy or enforcement, proper compensation is necessary and hence the need for a good lawyer.
One would need to make sure that he or she works with a competent lawyer in case of litigation. It would be essential for one to make sure that he or she takes time in getting the best attorney in case of a litigation. You may also need an attorney who guides you with the intention of keeping you on the safe side.