Property transfers may seem simple enough, right? Simply buy the property you want, sell it if you need to or even give it away. However, while this may sound easy in theory, there are a great number of intricacies that go into property transfers. To ensure that you are not getting the wrong end of the deal, whether you are the seller or the buyer, it is in your best interest to hire a property lawyer to represent you during these dealings. This piece highlights the importance of a property lawyer for property transfers.
A property lawyer will establish the legitimacy of the title
Getting the right title deed involves a couple of things. Firstly, the tile needs to be legitimate and is legally the property of the person selling the property. Secondly, the title should be representing an investment rather than it being a problematic piece of land. When you hire a property lawyer, it will be their job to investigate the legitimacy of the title and will recommend that you invest in title insurance as a buyer so that you are protected against potential claims that could make you lose your money. Furthermore, your property lawyer will also investigate the lot in question to ensure that you are not investing in a dud.
A property lawyer will formulate your deed
The second reason why a property lawyer will be an investment when you are involved in transferring a property is that they will ensure they draw up a concrete deed. The deed is a crucial document since it is evidentiary of the property transfer. The deed will provide a clear, legally acceptable description of the real estate that is being transferred. In addition to formulating the deed, the property lawyer will also be tasked with ensuring that the party that is transferring the property (be it an individual or a legal entity) to another party has signed the deed. When you hire a property lawyer for your property transfer, they will be responsible for the drafting of the document, the signing, the filing as well as ensuring its delivery to the necessary people.
A property lawyer will ensure the right deed is drafted
One thing you may not know about deeds (whether you are the seller or buyer of the property) is that they are not the same. Different types of property transfers will require a specific type of document drafted. For example, if the property transfer means you will have the mortgage transferred to you too, then a different type of deed will be required for this truncation. Having a property lawyer on your side is critical to ensuring that you are signing the right documentation.
Hello, all. I am a volunteer worker at an outreach centre which helps people of all ages with financial problems. I have come to realise that many of these people face hardships due to life-changing incidents such as unfair dismissal, a workplace injury or a car accident. Many of them are hard workers who aren’t aware of their legal rights. Last year, our outreach centre brought a lawyer on board to provide legal advice and assistance. I help by scheduling appointments, taking notes and following up on each case. I have learnt an awful lot about our laws and am impressed how knowing the right legal avenues can change people’s lives. I have just started a legal assistant’s course and thought this blog might be a good place to record the knowledge I gain. I hope you find it useful and insightful. Thank you for stepping into my world.