Real Estate Law For Families - The Changing Face of Families

Leaving real estate to your children or grandchildren is a common family tradition. Whether you want to gift an entire home or part of it, transfer the property as a rental or leave it to your children after your death, a clear and comprehensive estate plan is the best way to ensure that your wishes are carried out in a manner that is both legal and fair.

The Changing Face of Families

While families are fond of their ancestral homesteads, demographic changes have shifted the interests of many families. Some are moving away from their agricultural roots and others are seeking careers that do not involve living and working in rural settings.

If you own real estate that you would like to pass on to your children or grandchildren, talk with an experienced attorney. Your lawyer can help you determine how to pass the property to the next generation while also ensuring that the transfer is tax-wise.

Real estate law varies from state to state, so it's important to understand the laws that apply in your state. A New York real estate lawyer can help you with everything from buying and selling a home to transferring ownership of the property after your death.

Your property may be subject to a lien and mortgage, so it's important to know if there are any of these before you purchase the property. In addition, the property might have zoning issues or be in need of repairs.

The property might be subject to reassessment for taxes, so it's important to discuss the potential ramifications with an attorney. This could affect your heirs and how much they will receive.

You might consider a trust to make sure that your children will inherit your property in the future. An attorney can help you create a trust and name trustees so that the property is managed according to your wishes.

A revocable living trust is a good choice for a parent who wants to keep their children in the property after they die. You can make changes to the trust during your lifetime, giving you a chance to change your mind if you later decide that you don't want to give the property to your children.

Your real estate can be a valuable asset for your family, so it's important to think about the impact that passing it to your children and grandchildren will have on your finances and the financial wellbeing of your loved ones.

Real Estate Litigation & Disputes

If you are involved in a commercial or residential real estate transaction, you may be subject to litigation. It is important to have a skilled, experienced Long Island real estate attorney handling your case. This will ensure that your interests are protected and that your financial well-being is in good hands.

Whether your property is on the market or has already been sold, there are many issues that can arise in a transaction, and you need to have a firm on your side who knows what to look for.

Our real estate lawyers know how to deal with zoning, encroachment and other issues that can affect your property. We can also assist you with your commercial or residential real estate disputes in any area of New York.

Boundary Disputes

Even after the advent of modern surveying, boundary disputes can still occur in residential and commercial real estate. Oftentimes, these disputes can be a result of a lack of specificity in the deed and other property-related legal documents.

A thorough and professional survey, appraisal, and title search will help determine the boundaries of your property, and if necessary, a lawsuit can be filed to enforce these boundaries against an encroacher. A Long Island real estate lawyer can help you get justice if you have been denied access to your property due to encroachment by another owner or property management company.

Partition Actions

When you are selling your home and one party has not agreed to the sale, a partition action can be brought to divide the property into individual parcels that fit the needs of each owner. This can avoid costly and time-consuming litigation.

Trusts & Estates Litigation

Real estate litigation can spill into other areas of law. For example, if you are in a dispute over the distribution of an estate, it is essential to have a skilled and experienced Long Island real estate attorney who understands the nuances of probate law. This is because there are certain procedures, such as spousal rights of election, that must be followed to make sure that your interests are protected.

Moreover, if you are involved in a dispute over the distribution of an inherited estate, it is vital to have an experienced Long Island real estate attorney who can protect your rights and interests. This is because the laws of inheritance are complex, and a knowledgeable attorney will know how to navigate the complicated legal landscape.

What Does a Real Estate Attorney Do for the Buyer and Seller?

The process of buying a home is one of the largest and most important financial transactions you will ever make. This is why it is crucial to have a real estate attorney on your side at all times during the process. They are there to help you navigate through all of the different elements of the process. They can help you decide on the best mortgage for your needs, ensure that all of the contracts are in order, and protect your interests if anything goes wrong along the way.

What Does a Real Estate Lawyer Do for the Seller?

As a seller, you will want to ensure that everything is in order and your property has a clean title. A real estate lawyer can help you by running a title search to identify any potential issues with the property so that you can work to correct them before closing. They also can make sure that you have title insurance and review any tax issues that may arise.

What Does a Real Estate Attorney Do for a Lender?

Many banks and lenders will require a real estate attorney to be present during the closing. While this is not always the case, it is a common practice in many states and is usually a good idea to have one present at the closing. This is because they are a neutral party and will ensure that the sale is legal. They will also be able to provide you with updates and answer any questions that you may have about the transaction.

What Does a Real Estate Lawyer Do for a Bank or Mortgage Company?

A real estate lawyer will typically work with a lender during the loan application and financing process. They will ensure that all of the documents are in order and that the lender has a clear understanding of the terms and conditions of the mortgage. They will also assist with negotiating fees and other charges related to the mortgage.

What Does a Real Estate Loan Attorney Do for the Buyer?

Having a real estate lawyer on your side during the mortgage process can save you a lot of money. They will be able to negotiate better rates and terms with the lender so that you can afford your new home. This can be especially helpful if you are trying to buy a home that has a large down payment or a high mortgage interest rate.

What Does a Real Estate Contract Do for the Buyer?

A purchase contract is the key agreement that the buyer and seller sign during a real estate transaction. This document will outline the terms and conditions of the sale, including how much the buyer is paying for the property, who will be responsible for certain expenses, and the date when the deal is finalized. The contract will also detail any conditions that must be met before the seller can transfer ownership of the property.

Avenue Law Firm

Avenue Law Firm

400 Garden City Plaza Ste 438, Garden City, NY 11530, United States

(516) 507-3038