In the United States, over 40 million lawsuits are filed every year. It doesn’t matter if you are a property owner, a business owner, a developer, a real estate agent, or a property manager, you could become the defendant in a real estate litigation lawsuit, or you may have to file one in order to protect your own rights. Real estate litigation attorneys specialize in handling these types of cases, from negotiating settlements to representing clients in court when agreements can’t be reached.
These are the most common causes of real estate litigation.
- Boundary Disputes – When property boundaries have not been registered correctly or the use of the property extends beyond the perceived line, disagreements erupt that sometimes have to be settled by a judge.
- Breach of Contract – The legal sale of property is a contractual agreement that binds each party to terms and conditions including securing financing, abiding by closing dates, and transferring assets that are included with the property. When either party defaults on any condition of the contract, the other party has a legal right to pursue damages.
- Negligence or Breach of Duty – This type of lawsuit is usually brought against a real estate agent who has not acted in the best interest of a client by disclosing personal information or other details that could jeopardize the client’s ability to follow through with the transaction. These circumstances might cause the client to suffer financial loss and later, file a lawsuit to recover damages.
- Failure to Disclose Property Defects – A property owner may file a lawsuit against the property seller when the owner discovers a defect or hazard that decreases the usage or value of the property. In these cases, the buyer or owner is required to prove that the seller did know or reasonably should have known about the problem but deliberately concealed it in order to sell the property. However, this can only be discovered when an estate developer plans to develop a piece of property. At that point, it is critical that they hire a professional engineer or geologist to perform and complete the phase 1 esa. A Phase 1 ESA determines whether the current or historical use of the property has contaminated the soil or groundwater in a way that is harmful to the environment or poses a health risk. These issues have an impact on property values and an owner’s liability.
Having an experienced and trustworthy real estate litigation lawyer can benefit you in several ways. A real estate litigation attorney can represent you and safeguard your rights if you are accused of a violation or need to file a suit because you have been victimized. If you have questions or concerns about real estate contracts and transactions, contact Warren S. Dank, Esq., P.C. for a consultation.