The most familiar aspect of real estate law is the purchase or sale of a residential home. In this case the attorney oversees the closing, protecting the interests of his client, whether buyer or seller. Usually the main concern is that the title is clear, in other words, that there is no lien on the property. For example, if the current or any previous owner has had work done on the house but has not paid the contractor, real estate law permits a mechanic’s lien on the property. An attorney can help the buyer decide how to respond to a defective title.
While most real estate transactions proceed smoothly, odd things can happen and people do not always behave as expected. Issues with the condition of the property occur regularly, the most common being the seller removing something unexpectedly. One seller removed the entire central air conditioning unit. While this is extreme, permanently attached features such as window treatments, shelving, chandeliers and ceiling fans vanish on a fairly frequent basis. More serious are defects that do not become apparent until after closing, such as a roof that leaks or a basement that floods with the first thunderstorm. Real estate law sorts out all of these situations, but the wronged party must be protected by a solid contract. The time to contact a lawyer is before signing the contract, not after an issue arises.
Real estate law also addresses threats to home ownership such as foreclosure and eminent domain. If a homeowner misses mortgage payments, the bank may choose to foreclose on the property. Eminent domain allows the government to seize a home for the greater public good but must compensate the owner for the fair market value of the property. If a homeowner finds himself in either of these risky circumstances, he had best consult with an attorney.
Other aspects of property rights covered by real estate law include easements and encroachments. One enthusiastic new homeowner purchased fencing in eight-foot increments and proceeded to assemble his eight-foot sections right past the lot line, hijacking four feet of his neighbor’s yard. A letter from the neighbor’s attorney was enough to cause him to rethink his new backyard and rebuild the fence.
In these and many other situations, a homeowner may find that a simple consultation with an attorney that specializes in real estate law protects their interests and mitigates their risk.