What is Real Property?
Real property, also known as real estate, involves land and any non-movable structures attached to that land. Laws around real property or real estate are often thought of in terms of purchases of land and buildings, but it also covers topics such as who has the right to use property and buildings in some instance, and also what happens in the case of bankruptcy.
What You Should Know.
The most common application of real estate law is in purchasing land or property. For most people, this will be the largest financial transaction of their lives. While it is not legally necessary to use an attorney or a real estate agent in selling or buying a home, there are a number of legal requirements that have to be met. The consequences of not completing a purchase properly can be very expensive to fix.
Entering into an agreement to purchase a home, or even with a real estate agent to sell your home, is a legal contract. Backing out of a contract, or trying to change it after it is signed, can open you up to a lawsuit, so it is important to read and fully understand all of the fine print.
It is also extremely important to be confident that the ownership of the property you are buying is very clear. Claims on property can arise after many years if there were disputes in the past. It is also important to understand any easements on the property, where someone else, either a public body or another private citizen, has the legal right to cross your property.
If buying land where you intend to build, it is important to know any restrictions that may limit what you can do on your land. Municipal or provincial zoning regulations may stop you from building your dream home. In addition, there may be environment or other regulations that impact your plans.
How Peter C. Ghiz Law Can Help
Peter C. Ghiz law has years of experience in making sure that real estate transactions are thorough and successfully completed. Since purchasing a house is the largest transaction ever made for most families, if something goes wrong it can be devastating. We can help prevent mistakes before they happen. For commercial real property, we have been working with businesses for many years, and can help protect you and your business.