It is about having your team by your side while doing a business, a team that is well versed in their job. Law has a pivotal role real estate transaction, which makes it necessary for people in this business to have the much-needed accomplice, A lawyer. The system demands you to have a lawyer who can make the otherwise complex procedure easy for you and can take care of your interests. Lets get to the core, what makes it so necessary for you to have a lawyer!
Why needs a Lawyer?
In normal procedure Property registration at the Land Registry depends upon your choice and is not obligatory if your purpose is just to buy a property for residential purposes. The legal debate comes when you are interested in purchasing a certain property with mortgage. Going with the option of mortgage has it’s benefits but the governments all across the world make it obligatory to get the registration done. For the process that is otherwise voluntary and depends upon your discretion, the details of land registry are not visible in the normal course. The duty of lawyer is to properly guide you to purchase property, to make sure that there are hidden herks in the process, they do the risk analysis basing on their experience with the industry and proceed your case protecting your interests. If you don’t have lawyer things there is a high risk that things can become complex and issues can emerge after the deal is sealed. It is better to have a lawyer beforehand before any legal issue arise and fleece you.
Duties of a Real Estate Lawyer
In Spain, it is the duty of the real estate lawyer will act on your behalf and make sure that w=the whole transaction reaches it’s final pane and everything is done under in alliance with the state’s law.
The most important role is to excise due diligence, it is very easy to get deceived in the real estate business, it is the duty of your lawyers to look back through the history and make it hundred percent sure that the property you are about to own is legal and free of debts according to recorded deed.
If the property you are purchasing is not in the registry, it is the task of the real estate lawyer to check through his means and ensure there are no property liens, boundary disputes, ownership claims, outstanding taxes, property and land details match registered details at Land Registry. It is upon him to make sure that no legal proceedings are initiated or pending against property. Also, it is upon to the lawyer to make sure that the property has any tenancy agreements that are not terminated. Among these duties that involve registry there are other duties as well. If you happen to buy property it is upon the lawyer to make sure that the developer has valid insurance in place that can cover the losses that may be incurred by potential damages or defects in the structure.
Making the process of transaction seamless with the help of an escrow account is also the job of real estate lawyer while also making sure that the property is designed by a certified architect.
It is almost impossible to buy and register property without a lawyer. We are here with some of the most proficient lawyers to aid you in the process.
