Real estate is property that consists of land and buildings. Whether it is the sale, lease, or purchase of residential real estate or commercial real estate, there are laws that apply to the seller, purchaser, lessee, and lessor of such property. Legal representation may benefit you in all or in some of the topics discussed below.
- Residential purchases: a residential purchase is, in general, the purchase of a single-family home.
- Residential sales: a residential sale, normally, is the sale of a single-family home.
- Refinance transactions: these types of transactions usually consist of paying off an existing loan by obtaining a new loan. Typically, the new loan is more beneficial in that it may have a lower interest rate; therefore the payments may be lower.
- Loan modifications: modifications are sometimes made when a borrower cannot fulfill the terms of the original loan. The goal is to lower the payment so the property does not go into foreclosure.
- Short sales: short sales occur when a property is sold for less than the amount that is owed on it. This may be acceptable to a mortgage lender to avoid going through a foreclosure.
- Commercial purchases and sales: this is the sale and purchase of commercial property that is used for business purposes. For example, a shopping strip mall would be considered a commercial property.
- Landlord/tenant matters: landlord/tenant matters are generally covered in the lease agreement, which is a document signed by the owner of the property and the lessee of the property.
- Lease review and preparation: leases can be created by an owner, a legal representative of the owner, or in the case of multi-family housing, a state association.
- Evictions: evictions are filed in civil court to remove tenants from rental property—whether the property is commercial or residential. Usually, evictions are filed for nonpayment of rent, but they also may be filed for lease violations.