What are The Duties of a Real Estate Attorney?

To invest in any real estate and get the best ROI out of it, you need extreme caution and due diligence. Even the slightest misstep can cost you a lot if you buy or sell real estate without considering the complexity and implications of your local real estate laws.

To mitigate the risks, you need the guidance of an expert in real estate laws and no one can do it better than a seasoned real estate attorney. With the help of a real estate attorney, you can ensure your every transaction is done safely and every legal requirement is met which saves you from potential financial landmines.

This blog explores the different roles and responsibilities of real estate attorneys when it comes to property management services to give you a better idea so keep on reading till the end.

• • What is a Real Estate Attorney?

• • Duties of a Real Estate Attorney

• • Drafting Legal Documents

• • Client Representation in Legal Disputes

• • Making Technical Terms Clearer for Clients

• • Ensuring Legal Protection During Real Estate Transaction

• • Perform Due Diligence

• • Drafting Title Insurance Policies

• • Help Clients Navigate Through Zoning Issues

• • Drafting Leases and Subleases

• • Draw Up or Review HOA Covenants

What is a Real Estate Attorney?

A real estate attorney is a licensed professional who is skilled in handling all the legal aspects of real estate transactions. These experts can also engage in real estate litigation and negotiations to represent your interests better.

The services offered by a real estate attorney may vary based on your needs and their specialty. However, there are some common duties that almost every real estate attorney can perform for you.

Among the main duties of these professionals is to create and review legal paperwork relevant to real estate transactions to identify exposure. This ensures your real estate transactions are transparent, error-free, and foolproof.

Duties of a Real Estate Attorney

Following are the main duties and responsibilities that you can expect your real estate attorney to perform for you:

1. 1. Drafting Legal Documents

The legal documents involved in real estate transactions can be very complicated. You need someone skilled in the intricacies of real estate paperwork so that your concerns are addressed and your rights are protected.

Real estate attorneys can revise and draft documents and they can also review documents prepared by the other party to ensure you are not being defrauded. 

With the help of real estate attorneys, you can ensure error-free drafting of legal documents.

These experts know the ins and outs of tenancy contracts, title documents, mortgage contracts, leases & subleases, purchase agreements, rental agreements, and many other notarized documents or affidavits, and that helps mitigate risks.

2. 2. Client Representation in Legal Disputes

Attorneys who specialize in real estate litigation can best represent your interests in a court of law in case you run into title problems, enforcement of contracts, or myriads of other land disputes.

Real estate attorneys have vast experience when it comes to such disputes and they can use it to present the court with impeccable precedents and arguments. This can lead to the resolution of these disputes in a way that protects your rights.

3. 3. Making Technical Terms Clearer for Clients

A real estate transaction typically involves the use of certain terms and terminologies that you know very little about. A better understanding of these terms can help you mitigate fraud risks and a real estate attorney can help you do that.

By understanding these technicalities, you get a better idea of things like whether there is a lien on the property or not or what are some possible tax liabilities. They can also simplify many other key concepts involved in the transaction to help you stay on top of everything. 

4. 4. Ensuring Legal Protection During Real Estate Transactions

It is very easy to fall victim to fraud especially when you are not experienced in real estate investment and transactions. To ensure your legal rights are fully protected, you can seek assistance from an attorney.

Their knowledge of this industry and superior negotiating skills keep your rights protected. This helps you get the desired outcomes in your meetings with other attorneys, developers, or investors.

5. 5. Perform Due Diligence

Another crucial role played by real estate attorneys is due diligence. They can review the documents or contracts and look at every aspect to ensure everything is in order. They can also give advice where necessary so that the final paperwork is error-free.

By examining things like title issues, reports, zoning requirements, and environmental issues during due diligence, a real estate attorney can prevent you from falling into unforeseen legal traps.

6. 6. Drafting Title Insurance Policies

The purpose of the title insurance policy is to cover third-party claims on real estate that come up after the transaction has been done. These claims are usually not uncovered in the initial title search which makes the buyer liable to financial risks.

A real estate attorney can write up better title insurance policies. They can also review existing policies for exceptions or exclusions.

7. 7. Help Clients Navigate Through Zoning Issues

The use of land in any region is governed by specific regulations set by local governments. The zoning divides the land into areas specific for houses, apartments, commercial, or mixed-use.

A real estate attorney can help you navigate the zoning requirements to let you know how you can design or use your property in that area. These experts can also help existing property owners fight against rezoning.

Moreover, they can also aid prospective buyers in petitioning to change the land usage as per their needs.

Conclusion

A real estate attorney is a specialist who has the ability and skills to handle every aspect of the real estate investment process. You can seek their help when buying or selling a property or when you need someone to represent you in court in the case of real estate disputes.

Moreover, these experts can help you draw up legal documents that ensure your protection in large real estate financial transactions.

Having such an expert by your side when making real estate decisions can not only mitigate the risks but also ensure you are able to get the highest possible ROI from your investments.Visit My Property Manager today to get the best legal assistance for your real estate investments in Dubai.