When you are buying, selling or mortgaging real estate, dealing with oil and gas rights, or renting a home or an office, you will deal with numerous real estate documents and contracts. The essential function of real estate transactions is the ability to pass good or “true” title.
Consider someone who claims to sell you the Brooklyn Bridge for $5. You give him $5 and he gives you a piece of paper that states you are the proud owner of the bridge. Really? The real estate system has developed an elaborate procedure of tracing title back, to ensure that the person who sells you something, actually owns it. Someone leases you a house, how do you know he is really the owner and has the right to lease it?
Mere possession of the house and keys does not guarantee that the possessor has the right to lease or sell the property. Real estate transactions can be fraught with danger, deceit and even fraud. Buyer beware is still the best advice. Consult an attorney before you enter into a real estate transaction so you will know what to be on-the-lookout for. Whether you need advice on a transaction, a document to be drawn up, or disputes arise that you can’t resolve on your own, give my office a call.
My office can evaluate your situation then determine the best way to assure you are protected in the transaction.