Why Should I Hire a Mississauga Real Estate Lawyer?
Buying or selling a house is one of the most paperwork-intensive processes that many of us will go through in our lifetimes; unless you have acted as the personal representative of a family member’s estate or you are the owner of a small business that has sponsored the immigrations of employees and their families, nothing comes close. It makes sense to hire someone to help you. Therefore, many prospective buyers and sellers of real estate properties hire real estate agents; most of us do not think to hire a lawyer. Isn’t it the case that accountants are for taxes, real estate agents are for real estate sales, and lawyers are for lawsuits? It turns out that it is often advisable to hire a real estate lawyer for complex real estate transactions and to resolve issues that, if you tried to solve them yourself, would turn out to be costly in the short term and in the long term. For help buying or selling a real estate property that has an ambiguous title history or some other complicating factor associated with it, contact a Mississauga real estate lawyer.
If You Have a Real Estate Agent, Do You Need a Lawyer, Too?
You do not need a lawyer to help you choose a real estate property to buy or to negotiate about the sale price; that is what real estate agents do. Commercial real estate properties involve more complex laws, but real estate agents licensed to facilitate the sale of commercial properties are knowledgeable about these laws. When people hire lawyers for residential or commercial real estate transactions, it is usually only after the property is under contract, which means that the buyer and the seller have signed an agreement fixing the sale amount, but they have not yet finalized the sale.
Legal Issues That Can Arise When Buying or Selling Real Estate
These are some reasons why you might need the help of a real estate lawyer in finalizing the sale or purchase of a residential or commercial real estate property:
- There are ambiguities in the ownership history of the property.
- The property belongs to an estate.
- The property belongs to a trust, or you want to title it in the name of a trust.
- You are giving or receiving the property as a gift, instead of exchanging it for money.
- You have other concerns about legal liability if you buy the property that you are considering buying.
A real estate lawyer can help you conduct a title search on the property and see if it has ever been involved in any legal matters related to the Planning Act. Your lawyer can also help you review the legal documents associated with the property, so that you can request any necessary amendments before you finalize the sale.
Contact Zagazeta Garcia LLP About Real Estate Transactions
A real estate lawyer can help you prevent and resolve disputes related to the sale or purchase of a real estate property. Contact Zagazeta Garcia LLP in Mississauga, Ontario to discuss your case.
Source:
ontario.ca/laws/statute/90p13
