Real estate contracts
What is a real estate contract?
The term real estate generally refers to ownership or use of land and real estate law covers the right to possess, use, and enjoy land and fixtures. Real estate law directly or indirectly impacts most of us on a daily basis, whether you are a homeowner, renter, landlord, home buyers, home sellers, or real estate professional.
Note that for purposes of planning and understanding risk, it’s important to know that In the United States, every state has exclusive jurisdiction over the land within its borders. Although the general common law principles apply, each state has the power to determine the form and manner in which transfer of real property and other real estate rights occur within its jurisdiction, and as a result, state law requirements vary significantly from state to state.
Do you need an attorney to help review a real estate contract?
Yes – Due to the prevalence in legal language, people can have difficulties understanding the complexities of certain real estate provisions in real estate contracts. It is important to understand legal risks associated with real estate contracts and an attorney can help identify such risks so you are in a better position to manage those risks by negotiating more favorable terms in real estate contracts.