In Indiana, consumers and businesses may face issues associated with their property or a property they wish to purchase. These issues could relate to a variety of circumstances that require legal assistance. The following are the concepts managed by real estate lawyers in Auburn, Indiana.
Managing Real Estate Transactions
Real estate attorneys manage real estate transactions. They ensure the rights of their client are secured in these proceedings. They may represent the buyer or the seller in these cases. For the seller, they ensure that the transaction is managed properly by their real estate agent and that no mistakes are made. For the buyer, they prevent predatory lending practices and prevent them from losing their investment if the transaction is stopped.
Handling Property Disputes
Property disputes arise when property owners choose to make changes that are close to a neighboring property. This may include the installation of a fence, landscaping, or retaining walls. In these cases, the property lines aren’t well defined. In most cases, a surveyor reviews the property and determines where the property lines are and mark them accordingly.
Title Searches and Insurance Options
A title search is necessary for all real estate transactions. Typically, the search includes all title transfers for the last 30 years. These searches are conducted to determine the identity of the rightful owner. If the seller doesn’t own the property according to the title, they cannot sell it. The attorney provides the buyer with title insurance for these purposes.
Transferring Ownership After an Estate Owner Dies
A will can define the new owner of the property after an estate owner dies, and a real estate attorney can assist the new owners with the transfer process. The new owner will need to pay inheritance taxes for the property according to county laws.
In Indiana, real estate attorneys provide clarity in matters pertaining to the purchase or sale of residential and commercial properties. They manage the transactions from start to finish and they mitigate risks associated with property-related disputes. Consumers or businesses that need assistance from real estate lawyers in Auburn, Indiana can contact Yoder & Kraus to schedule an appointment.