Real estate is often your most valuable asset. Real estate law can be complicated. An experienced real estate attorney can help with deeds, filing quiet title actions, conveying property, resolving liens, establishing easements, defending against foreclosure, and so much more. If you need a real estate attorney, contact Cornerstone Law Firm, LLC. We’d be happy to consult with you about your case and help you protect your interests.
Title—A title establishes who legally owns a piece of property. It grants the legal right to use, occupy, sell, or transfer that property and is often established by a deed.
Deed—A deed is a legal document that grants a property’s title to that property’s owner.
Chain of title—A chain of title is a record of a property’s transfers from one owner to another.
Conveyance—Conveyance is the act of transferring property to a new owner. It’s often conducted through an instrument of conveyance (a contract, deed, lease, or title).
Lease—A lease is a legal contract between two parties that grants the lessee the right to use and occupy a property for a specific period of time. This right is granted in exchange for rent payment, and any terms and conditions are outlined within the lease.
Mortgage—A mortgage is a type of loan, payment of which is secured by a lien. It’s an agreement between a lender and a borrower that allows the borrower to finance a property purchase. Mortgages also grant the lender the right to take the property if the borrower does not uphold mortgage repayment.
Lien—A lien is a legal claim placed on a property by a creditor. It functions as security to ensure the property owner repays a debt or obligation. Some different types of liens include: mortgage liens, tax liens, judgment liens, mechanic’s liens, and homeowner’s association (HOA) liens.
Easement—An easement is an agreement between two parties that allows one party to cross or use the other party’s property for a specific purpose.
Encroachment—In real estate, an encroachment is a violation committed when one property owner builds or extends a feature across or near property lines. Encroachments can be either accidental or intentional.
Boundary Agreement—A boundary agreement is a legal document that clarifies the location of a property’s boundaries and addresses any concerns that may be present (like encroachments or easements).
A purchase agreement, also called an agreement of sale or purchase contract, is an important document that outlines the terms and conditions of a real estate transaction. It is legally binding and includes provisions that protect both the buyer and seller. Both a buyer and seller may be waiving important rights, so contacting an attorney before signing is critical. In Pennsylvania, a written purchase agreement is required to buy or sell real estate.
A purchase agreement should include:
Purchase agreements can help to protect the interests of the parties involved in the sale and ensure a smoother transfer of title. Like any contract, it’s important to review and understand the terms of a purchase agreement before signing. If you’d like help reviewing a purchase agreement, contact Cornerstone Law Firm. Our real estate attorneys can review the agreement and negotiate on your behalf.
As defined above, a deed is a legal document granting a property’s title to a property owner. Deeds are required for both commercial and residential property. Without a deed, the property cannot legally transfer from one owner to another.
There are many different types of deeds, and each one serves a different purpose. Some types of deeds include:
Each type of deed can offer different levels of protection. It’s important to understand your interests before buying a property and reviewing the deed with an experienced attorney to ensure those interests are protected.
A title review is a way to verify your property ownership. You can hire a title examiner to conduct a review, and identify any issues and resolve them. The kinds of issues that might appear during a title review include:
A title review can be a helpful process to undertake, especially if there are any questions about the seller’s ownership claim. An experienced real estate attorney can work with you and the title examiner to review the title and ensure a smooth property transfer. Call the attorneys at Cornerstone Law Firm for help.
A quiet title action is a type of lawsuit that establishes the rightful owner of a specific piece of real estate. Quiet title actions are sometimes brought by parties trying to clarify boundary lines or easements. They are also brought by parties trying to prove there is no claim to the property in question.
Titles can become “cloudy” when:
Quiet title actions can help to clear up the title by extinguishing others’ claims to the property and ending any disputes over it. After a quiet title action has been filed and completed, the court will allow you to record a new deed for the property.
Closing, or settlement, is often the last step in buying or selling real estate. After the title has been reviewed and any issues (like liens, gaps in the chain of title, etc.) have been resolved, closing can begin. Most buyers will take a final walk-through of the property before closing to ensure the condition of the property is as agreed. The buyer’s attorney or settlement company will then prepare all necessary documentation (deed, bill of sale, closing disclosure, loan agreements, etc.).
Once the documents have been prepared, all parties will meet to sign the deed, bill of sale, mortgage, and other relevant documents. Payment will be made, keys will be given to the buyer, and the title will be transferred. The public record will then be updated to reflect the new owner.
Having an experienced real estate attorney assist with the closing process is a good idea. Attorneys can provide guidance throughout the process to ensure your interests are protected. Attorneys can also prepare documents, negotiate contract terms, ensure compliance, clear any title issues, and more. If you’re looking to buy or sell real estate and you need legal assistance, call Cornerstone Law Firm.
Foreclosures take place when a homeowner fails to repay mortgage payments. When this happens, the homeowner is considered to be in default. The mortgage lender will then send a notice and the homeowner must either make payments or face foreclosure proceedings.
If you are facing foreclosure proceedings, you may be able to defend your home against it. You will need to act quickly. You can defend against foreclosure with things like:
For more on defending against foreclosure, click here. For a free consultation to discuss your options against foreclosure, call Cornerstone Law Firm.
Eminent domain refers to the government’s authority to condemn (or take) private property in exchange for fair compensation and use it for public purposes. This may take the form of building roads, adding to public infrastructure, or using the property for a school, park, or community project.
The condemnation process typically involves declaring a public purpose for the property and making an offer to the property owner. Negotiations may take place, along with an appraisal to determine the fair market value. If the property owner rejects the offer or challenges the condemnation, the government may initiate a lawsuit to determine appropriate compensation. The public use project can continue after the government has gained possession of the property.
Eminent domain is subject to constitutional limitations, like those in the 5th Amendment. Not all condemnation cases are resolved in favor of the government. If you are facing condemnation and you do not want to give up your property, you have rights and you can fight to protect your property. If you have been notified that the government intends to seize your property, or if you are facing a condemnation action, the attorneys at Cornerstone Law Firm can help. Contact us to schedule a consultation today.
An easement is a form of land ownership that allows you to use someone else’s land for a specified purpose. It is a complicated, fact-intensive area of law. There are four common types of easements available:
It’s a good idea to include easements in your property’s deed. You can also include a maintenance agreement, where you establish who will pay for the land’s upkeep.
The real estate attorneys at Cornerstone Law Firm can help you establish an easement or include one in your property’s deed. Call us today for help.
Depending on the location of your property and the records available, it can sometimes be difficult to determine boundary or property lines. A real estate attorney can help with property line or driveway disputes by:
Property line and driveway disputes are common in real estate. Having an experienced attorney review relevant documentation can provide you with a better resolution than attempting to do it yourself. If you need help with a boundary or driveway dispute, call the real estate attorneys at Cornerstone Law Firm.
When two parties co-own a property and no longer wish to co-own it, they can get what is known as a partition action. A partition action is a legal proceeding that allows the co-owners to seek a court order that divides the property in two or sells the property and splits the profits between the owners. Partition actions are typically used when the property’s co-owners have conflicting interests, and they are unable to find another resolution.
There are two kinds of partitions commonly available:
Partition actions can become heated depending on the nature of the dispute. If you’re facing a partition action, you need legal representation. An experienced attorney can provide you with representation, protect your rights, and advocate for your interests. Call the attorneys at Cornerstone Law Firm for help.
Another area of real estate law that can become tricky to navigate are disputes between landlords and tenants. Whether you are the landlord or the tenant, disputes can arise from either side for a number of reasons. Some of those include:
Landlord/tenant disputes can be resolved in various ways. In most cases, a landlord/tenant dispute will be heard in either a Magisterial District Court or the Court of Common Pleas. Mediation and arbitration are sometimes better alternatives to litigation.
If you are in the middle of a landlord/tenant dispute, we can help. Our attorneys have experience defending the rights of both tenants and landlords, and we can help to defend yours as well. Call us today to set up a consultation and discuss your options.
One branch of landlord/tenant disputes is evictions. When facing eviction as either the landlord or the tenant, it’s a good idea to hire an attorney. The eviction process often includes:
Whether you are the landlord or the tenant, eviction proceedings can be difficult. Legal representation can help. Call the real estate attorneys at Cornerstone Law Firm today.
Tax assessment appeals can be a helpful tool in lowering property taxes and avoiding overpayment. If your property has been incorrectly assessed, you can file an appeal. The appeal must prove that your property assessment does not reflect fair market value. You can do this by:
If your appeal is successful, it may result in a lower assessment and lower property taxes. If you are looking to appeal your tax assessment, call Cornerstone Law Firm. Our attorneys can review your case, help you figure out how best to lower your taxes, and guide you through the appeal process.
Q: What is contract law in real estate?
A: In real estate, contract law governs how contracts are formed, interpreted, and enforced. They can create legally binding agreements between buyers and sellers or lessors and lessees. They should also outline rights, obligations, and terms of transaction, and include provisions to protect all parties’ interests.
Q: What is common law in real estate?
A: Common law is a body of law developed over time through court decisions and principles. It is not codified into law through statutes or legislation, but rather based on customs. In real estate, the following areas are influenced by common law:
Q: What is statutory law in real estate?
A: Statutory law refers to laws that have been codified at local, state, and federal levels. Unlike common law, statutory law has been written down into statutes. Statutory law governs many aspects of real estate including:
Q: What is law of agency in real estate?
A: In real estate, law of agency refers to the legal relationship between a real estate agent and their client. The rights, duties, and responsibilities of the agent are defined by law of agency. Those responsibilities include:
Q: What is operation of law in real estate?
A: Operation of law is a legal principle by which specific rights, obligations, or ownership changes happen automatically, without specific actions or agreement between parties. There are specific circumstances outlined in the law that cause these changes. Examples of real estate impacted by operation of law include:
Q: What is antitrust law in real estate?
A: Antitrust law is a set of regulations designed to promote fair competition and prevent anticompetitive practices. Within real estate, antitrust law protects consumers and improves the market. Areas of real estate impacted by antitrust law include:
