Real Estate

Real estate transactions are governed by a wide body of federal statutes and state statutory and common law. The requirements established by state law often differ significantly from one state to the next. Real estate brokers are employed as the agent of the seller in order to obtain a buyer for their property. The contract between the broker and seller is called a listing agreement. The agreement may be an open agreement whereby the broker earns a commission only if he or she finds a buyer. A listing is exclusive if the broker is the only agent entitled to a commission for finding a buyer. Under an exclusive arrangement a broker may be entitled to a payment even if the seller finds the buyer without the broker’s aid. Real estate brokers and salesperson are licensed and regulated by local state laws. Professional organizations may also provide further guidelines.

Real estate attorneys must be knowledgeable of federal, state and common laws so that they can be well informed when supervising the financing, acquisitions and managing of properties.

Real estate lawyers negotiate re financing, mortagages, purchases and sale agreements of individual and commercial properties. They also must be knowledgeable of tax laws and leases for buildings of individual and professional use.

Real estate attorneys must, at times, litigate on behalf of their clients. Wrongful possession, titles and land boundaries including walls, fences and other land markings, condemning of property and fraud are just a few of the reasons for court procedures.

Brokering issues such as defense of real estate agents including fraud, misrepresentation, disclosure omissions and breach duty having to do with fiduciary matters. Lawyers working in real estate also handle real estate investment, sales, zoning, and landlord and tenant problems.