What is Real Estate / Real Property? Real estate and Real Property is a land, a house, homestead, a condominium unit or other interest/ownership that is owned by one or more persons or entities. The word "Property" is sometimes used although that word is general and could apply to personal property (a car, etc.) as opposed to property that is an ownership pertaining to land, which is real property/real estate. Real Estate Law, Foreclosure Law, and Community Association Law (Condominium, Homeowner's Association, Co-operative) all apply.

 

When is representation necessary? The earlier the better since there are many critical components of a transaction that should be carefully reviewed with sufficient time prior to the occurrence of events or deadlines. When in doubt, ask an attorney for advice.

 

What does representation do? Documents appear to be in a final format and may not appear to be of the nature that would allow changes to be made; however, documents can be negotiated and revised prior to signing and in some instances even after they are signed an addendum can be negotiated and agreed upon.

 

Who provides representation? Legal advice is provided by lawyers in a state where the transaction or real estate is located.

 

What is a Partition Action? When two or more people are on a Deed / title to real property (land, a house, condominium unit, etc.) either of the owners of record may file a partition action to request that such real

property be sold and divided as determined by the court. There is not a statute of limitations generally since it is an action in equity / fairness. Some limitations apply although the scope of a right to partition is generally broad to enable a partition.

 

What is reformation of a deed? When there is a mistake in the resulting deed, the court can intervene to reform/correct the deed to restore the parties to the underlying transaction to that which should have occurred.

 

What is foreclosure? Foreclosure is a court action on a lien or mortgage to real property to sell the real property as collateral to satisfy the lien or mortgage. Defenses are sometimes raised as to standing,

conditions precedent or other matters that may exist. Strict time limitations apply.