Nevada Real Estate Lawyer
Many people have used a real estate lawyer to buy or sell a home. Perhaps you’re familiar with some aspects of real estate law such as buying and selling residential and commercial property, title searches, landlord – tenant issues, and, nowadays, foreclosure defense.
Real estate attorneys also draft deeds, mortgages and contracts; negotiate deals and contracts; analyze offers and finance options; research zoning law issues; handle property management and real estate investing; advance property development; deal with environmental hazards; represent clients in court; and provide legal advice regarding real estate matters.
Real Estate Lawyers Handle Real Property, Not Personal Property
“Real property” is sometimes called “realty.” Real estate lawyers handle all legal issues regarding “real,” not personal, property. In other words, real estate lawyers deal with commercial buildings, homes, apartments, condominiums, vacant land and improvements to land. They do not, typically, handle matters concerning personal property such as art, jewelry, tools, guns, antiques, investment accounts and money.
Foreclosure Defense is Booming
CNN, newspapers and the popular press all run commentary on the depressed housing market, mortgage scams, the general economic crisis and foreclosure defense. Real estate attorneys are busy dealing with all of these issues, with foreclosure defense at the top of the list. If you’ve received a notice entitled “Intent to Foreclose;” or you’re otherwise afraid that you’re going to lose your home, be sure to consult with a qualified real estate attorney. Not all foreclosures are legal; you may be able to delay or stop yours.
Real Estate FAQs
What is foreclosure? “Foreclosure” is a legal process through which the bank, mortgage company, or other secured creditor takes back your house (or other real estate) because you have not repaid your mortgage as promised in the mortgage contract.
Will bankruptcy save my house? The answer as to whether bankruptcy can save your house depends upon your individual circumstances and can only be provided upon consultation with a qualified real estate lawyer. However, in general, if you’ve keep up with the mortgage payments and can make the payments in the future, your house may be protected during the bankruptcy process. Get good advice.
What is the right of survivorship? Often real property is owned as joint tenants with the right of survivorship, especially among married couples. The “right of survivorship” feature means that upon the death of one of the joint owners, the property will immediately transfer to the surviving owner(s.) Though joint ownership with right of survival is very common, it has numerous pitfalls so be sure to get good legal advice regarding proper asset ownership in your particular situation.
What is a title search? A title search is required by all banks and mortgage companies as a condition of supplying the funds to buy real estate. If you are paying cash for real property, a title search is prudent, though not required. A title searcher, either on-line or at the courthouse, checks the title, transferred from owner to owner to ensure that the person selling a piece of real estate actually holds title, or otherwise has the right to sell the property. “Holds title to” means “owns the property.” Typically, real estate buyers purchase “title insurance” to protect their interest in the property. If it turns out the seller really didn’t have the right to transfer the real property, the title insurance pays to protect the buyer’s interest in that property.
Real Estate Glossary
Foreclosure Rescue Specialist A “foreclosure rescue specialist” may also be known as a “credit doctor” or “credit counselor.” These are unregulated and unlicensed businesses that are often scams. They are not foreclosure defense attorneys and should be avoided. Historically, they have done little or nothing to help those with pending foreclosures and, often, cause harm as they delay stressed homeowners from getting legal help until it’s too late.
Acceleration Clause An “acceleration clause” is a provision, typically, in a mortgage which causes all of the principal and interest to be due immediately, if payment terms are not met. Acceleration clauses are found in mortgages, bonds, notes and conditional sales contracts.
Abstract of Title An “abstract of title” is a summary of the history of a piece of real estate. It contains a record of transfers of ownership and liens such as mortgages.
Quiet Enjoyment Each property owner or tenant has the right to enjoy his or her property without disruption or interference. Interference with someone’s right of quiet use and enjoyment may be an actionable nuisance.