The body of law dealing with real estate is varied and large and often misinterpreted. An attorney experienced in real estate law should be consulted when dealing with real estate matters, especially if the matter involves:
PURCHASE AND SALE CONTRACTS
SALES BY OWNER
Contract Law: Legal matters involving real estate often deal with agreements (contracts) between two or more persons (parties). Purchase and Sale Agreements, Escrow Instructions, Promissory Notes and Trust Deeds, Real Estate Listing Agreements, and Home Improvement Agreements, are all governed by contract law. It Is Crucial That You Understand The Contract You Are Signing !!!
Remember that your failure to read and/or understand the contract is not a defense if disputes arise. If you sign a contract, the law presumes that you both read and understood the terms of the agreement.
A way to reduce the costs of selling property? Perhaps, but it can also provide an open door for problems. It is imperative that you fully understand the effect that the legal process and related laws can have on the transaction and your ownership status, and you must know the various documents that are needed or required by law. Seek professional legal assistance to help avoid the many problems that arise under these circumstances.
("Ownership status"): Title problems frequently arise in real estate matters. In order to properly resolve title issues you need a full understanding of title law in Nevada and you need to understand the role a title insurance company plays regarding title or ownership status.
Agents are generally part and parcel of every real estate transaction in the western U.S. It is important to understand the function of such agents' their duties and responsibilities to each party.
Are the loans given in exchange for a promise to repay the loan. The promise to repay is most often backed or secured by filing a deed of trust "against" your real property. A deed of trust gives power to the lender to foreclose or take possession of your property should you fail to repay the loan as agreed. It is vital that you fully understand the terms of your loan agreement and the effect the trust deed may have on your continued ownership of the property.
("Some type of deed is frequently needed to accomplish title changes to real property. Some examples include:
Joint Tenancy Deed - brings another party into title
Trust transfer Deed - transfer your property to your living trust
Deed on Death - transfer property to love ones at your death
Severance Deed - removes a party from title
Personal Quitclaim Deed - transfers title to another party
Real property is all too often at the nexus of INHERITANCE DISPUTES. It is very common for an elderly parent to transfer property to only one child or other family member with the intention that upon their (the parents') death, proceeds from the sale of the real property will be shared with the other family members. This often does not happen, and filing a law suit is usually the only way to settle this type of dispute.
The information you obtain at this site is not, nor is it intended to be, legal advice. You should consult an Attorney / Lawyer for individual advice regarding your own situation. Nothing contained on these pages should be interpreted as establishing an attorney-client and/or lawyer-client relationship through Attorney Las Vegas . com or with the Law Offices of Jacqueline Mary McQuigg, Esq. & Associates.