Ann Arbor Real Estate Attorney

At the foundation of every legal transaction is the document known as a contract. Here is a guide to this document, why it is important and why you should use it.

The Basic Elements of Contracts

For as long as we can remember, things have been accomplished by agreement. At one time, a person’s handshake was good enough to cement that agreement. In these more hectic times, that is no longer the case. To bind someone to an agreement, a written contract is needed.

At its core, a contract is simply an agreement between two parties. One party agrees to do something in exchange for the other party doing something. In most instances, this involves one party paying money to the other in exchange for something. A classic example would be a real estate transaction. I agree to pay you $300,000 in exchange for you transferring the home to me. Obviously, there is more a real estate agreement, but this is the basic idea.

The courts have very particular views about the enforcement of contracts. Simply put, they almost always enforce them. If they did not, the entire business world would be rocked to its foundations. If you cannot count on the other party doing something, how can you possible do business? Imagine if you made widgets and a large retailer ordered a huge amount after signing a contract to pay you an equally large amount. What if the retailer than decided not to go forward and didn’t pay? You would be stuck with a huge inventory, no revenues and probably go out of business. With a contract, you can go to court and force the retailer to honor the terms of the contract, to wit, pay you and take the product. This is the beauty of a contract.

For contracts to be enforced, they need to be in writing. If you reach an oral agreement with another party, it means little. The reason this is the case is it is very difficult to tell which party is telling the truth about whether there was an agreement and, if so, what the terms were. The courts feel so strongly about this that there is a body of law known as the Statute of Frauds. Although it differs from state to state, the basic premise is any agreement exceeding $500 must be in writing to be enforced. Obviously, there are exceptions to this rule, but they are few.

A contract is a critical weapon in the arsenal of any business. Oral agreements mean nothing these days, so make sure it is in writing to protect yourself.

About The Author

Gerard Simington is with http://www.findanattorneyforme.com – an online attorney directory.

Technorati Tags: real estate attorney

How can a lawyer in Pennsylvania get their real estate license?

Someone told me that if you are already lawyer in Pennsylvania, all you have to do to get a real estate license is sign a paper stating that you understand the real estate practices in the state. Is this true? If so, is there a web site that explains it further? Read the rest of this entry »

Technorati Tags: real estate attorney

Tips For Buying Homes And Real Estate Properties In South Tampa

Here we at South Tampa Luxury Homes provide 7 Tips for Buying A Home In A Down Market
Prospective buyers have an edge in a down market, but this doesn’t mean they are guaranteed to make money on the properties they buy. When real estate sales are slow and there Read the rest of this entry »

Technorati Tags: real estate attorney

Real Estate And Business Litigation Attorney

Looking for sharp, successful and experienced real estate and business litigation attorney in Los Angeles? Meet our accomplished and result-oriented real estate and business litigation lawyers at Wagenseller Law Firm based at LA, who possess extensive litigation and trial experience Read the rest of this entry »

Technorati Tags: real estate attorney

How about these right… I think you’ll find the following nuggets of wisdom particularly insightful. Leave your comments below. Check out the second one in particular…

What is an ALTA survey?

An ALTA/ACSM survey is a land survey prepared in accordance with the standards adopted by the American Land Title Association and the National Read the rest of this entry »

Technorati Tags: real estate attorney

A real estate attorney can be a very valuable investment, regardless if you are the seller or the buyer. As experts in their field they will ensure that the whole transaction goes smoothly, while not overlooking any of the small but important details of the deal. Here are some good reasons for hiring a real estate attorney as well as a few words on what to expect from this kind of legal professional.

If You Are The Seller

When selling your property, the real estate attorney will assist you in preparing the purchase and sale agreement. If you so wish, he or she will also negotiate the sales terms on your behalf. After that the deed will be prepared and your lawyer should promptly deal with any issues, if there are any, as they arise.

Before you sign the final papers your attorney should also review them first. Finally, your lawyer can also oversee the matter of insurance certificates if they are needed as well as take care of the due security deposits.

If You Are The Buyer

Buying a home is one of the biggest investments ever in most people’s lives, so one of the benefits of having a real estate attorney by your side is that he or she will be able to walk you through the entire process. There are many things to consider when investing in real estate, such as checking that there are no liens, easements or covenants registered against the property.

Discovering this only after the deal has gone through would be a very unwelcome surprise indeed. You could also hire an attorney who specialize in real estate tax, if the property owes taxes. But for the average purchase that will most often not be necessary.

There are many documents to take care of in the average real estate deal, and your attorney will see to it that they are all prepared and filed in good order. The mortgage is also something that your real estate attorney can assist with, working directly with the bank and making modifications as needed.

Your attorney will naturally also be present at the closing, making sure that all papers are in good order, that proper insurance is in place and that a valid registration of ownership exists.

In short, a competent real estate closing attorney will be worth their weight in gold, whenever problems arise – and many times they will also prevent issues from arising to begin with.

At GetAttorneyConsultation.com there are many free articles about the most common real estate legal concerns. Learn exactly why, compared to the size of the total investment, a real estate attorney is most often well worth the extra expenditure.

Technorati Tags: real estate attorney

How much should I expect to pay for a real estate attorney consultation?

I have been offered a deal that involves real estate. What do I expect to pay real estate attorney for a consultation (explain details, risks, loop-holes) and contract verification?

Technorati Tags: real estate attorney

Yahoo! 404 – Page Not Found

Use the Escape key to return to the search box. Use the right arrow key to explore related concepts.

Use the Escape key to return to the search box. Use the left arrow key to return to the search suggestions. Use the up and down arrow keys to select concepts related to your query.

Technorati Tags: real estate attorney

Would a california real estate attorney be able to remove my husband's name from the deed as well as the?

loan of a house he co-signed for????

All About Hiring Real Estate Attorney

No real estate course or effective seminar is a substitute for a good attorney. Finding a good real estate attorney could be difficult, Read the rest of this entry »

Technorati Tags: real estate attorney

A Will is a written document, generally prepared with the help of an attorney (although not essential), that provides instructions for the disposition of a decedent’s (dead person’s) property. The term “Last Will and Testament” is simply a more complicated name for a Will. The personal representative or executor of the will has the responsibility of executing the will and distributing the assets of the deceased according to the will.

A wills and estate attorney is one who can draft the will and guide the personal representative or executor in the execution of the will including:

· Locating and securing both probate and non probate assets

· Obtaining date of death values and appraisals of all of the decedent’s property

· Collecting life insurance proceeds

· Rolling over and making appropriate elections with regard to retirement plans, including IRAs and 401(k)s

· Advising on the payment of the decedent’s final bills and outstanding debts

· Keeping track of the estate checking account

· Determining if any estate and gift taxes will be due and, if so, then figuring out where the cash will come from to pay the taxes

· Addressing income tax issues

· Settling disputes among Personal Representatives/Executors and beneficiaries

· Assisting with the sale of estate property

· Requesting court permission for various actions as required by applicable state probate laws

· Retitling the decedent’s assets into the names of the estate beneficiaries

· Preparing and filing all documents required by the probate court in a timely manner

A probate process can throw up complicated situations like tax problems and disputes, ambiguities in the wording of the Will, appointment of guardian for minors, etc. A wills and estate lawyer can take care of such situations and advise clients on getting their affairs in order to prepare for the possibility of mental disability and eventual death.

There are no special qualifications for becoming a wills and estate lawyer. Like all lawyers, a wills and estate lawyer must have a JD degree from an American Bar Association accredited law school and must have cleared the state bar exam. Before a wills and estate lawyer can practice in a state, he must pass the state bar exam. A wills and estate lawyer should be well versed in the state laws that govern probate, Last Will and Testaments, and trusts

Generally speaking, there are basically two types of wills and estate lawyers: those who handle the administrative side of probates and those who represent clients in fights over who gets the estate. Some lawyers do both, but most of them tend to specialize in one area or the other.

http://www.legalservices.califindit.com
Raul Jimenez has worked as a state prosecutor for the last 5 years. He is a specialist in Civil Law and has taught various college level courses. Currently Raul is working to develop the Legal Services section of CaliFindIt.com, California’s premier source of information. If you are looking for any type of legal service within the Greater Los Angeles area, be sure to check out http://www.legalservices.califindit.com.

Technorati Tags: real estate attorney