Real Estate
Pennsylvania real estate law involves both home and business property. We at Forbes, Bender, Paolino, & DiSanti are Pennsylvania real estate attorneys who can help you with both commercial and non-commercial real estate issues.
Improper review of real estate contracts can result in signing away important rights, so it is the wise individual or company which has competent real estate lawyers on his side whenever he seeks to sign an agreement involving real property. It is important that any contract make clear the rights and responsibilities of each party involved.
In addition to the sales agreement, there are many other items to consider when it comes to real estate.
Who owns the property
One major issue of concern when it comes to real property is how and whether to share ownership. This is both a real estate issue and an estate planning issue. There are three basic types of ownership in real property. They are:
1. Two people have an equal interest and if one should pass on before the other, the survivor keeps the whole property. This is called joint tenancy.
2. A married couple has an equal interest, and if one spouse passes before the other he keeps the whole property. This is tenancy by the entirety.
3. People have a specific interest in the property, and do not inherit other interests if they survive other owners. This is tenancy in common.
It is important to consider what type of property ownership serves the various parties best. Each of these types of ownership have tax consequences, and can have familial and business implications as well.
Deeds
A proper deed is a crucial part of buying or selling property. Sellers can guarantee only as many rights as they actually have themselves. The unwary buyer can end up with limited rights if he isn’t careful. This is another reason why it is important to have a good real estate attorney to help you in any purchase or sale of property. The types of deeds include:
1. The property is free and clear, no other person has a legal claim. This is a General Warranty Deed.
2. The seller guarantees that the property has no claims originating after the seller purchased the property. However, claims can exist before that date. This is a Limited Warranty Deed.
3. The seller guarantees nothing, just transfers his interest to the buyer. This is a Quitclaim Deed.
4. The seller may or may not have mineral rights. This can be very important in these days of the gas rush occurring in certain parts of Pennsylvania right now.
Rental Properties
When selling or purchasing a property for rental purposes, there are additional considerations of which the parties need to be aware. For example, does a tenant currently reside on the property, and what are the tenant’s rights? In addition to real property issues, we handle Pennsylvania landlord tenant law as well.
Construction
The construction process is rife with the possibility for problems; from delay to failure to complete, to the formation of a proper contract. Regardless of whether you are the builder or the owner, we can help you in any contract dispute that arises during the construction process.
Regardless of your real estate concern, the Pennsylvania real estate lawyers at Forbes, Bender, Paolino, & DiSanti are well versed in helping both businesses and individuals to protect their rights. Please contact us for assistance.