Common Causes of Real Estate Litigation
Buying a house or investing in real estate can be a lucrative and rewarding opportunity. However, there are a lot of risks involved. Real estate can cost six or seven figures (or more), so there’s a lot of money at stake. With so much money involved, this can lead to unethical activities.
This can also lead to real estate litigation. You might have to take the legal route when you experience disputes with property-related matters and you cannot come to an agreement with the other party. Real estate disputes can be costly and complex, but a real estate litigation lawyer can guide you through the process. Here are some common causes of real estate litigation that you should know about.
Breach of Contract
Breach of contract occurs when there is a contract in place and one party fails to uphold their responsibilities as outlined in the agreement. For example, failure to make payments or deliver the property as promised could constitute a breach of contract. These breaches can result in financial losses. Having comprehensive contracts in place can help prevent misunderstanding, which often lead to these disputes.
To avoid lying to you about a certain issue with a property, a real estate agent or home seller may just refuse to disclose it. When a seller doesn’t provide the buyer with important information about the property, this is misrepresentation and it can lead to costly issues down the line. Non-disclosure may include hiding known defects or property damage that could influence the buyer’s decision. When buyers discover these issues after the purchase, they will likely feel deceived and take legal action against the seller. You can avoid this by getting an inspection on the property before agreeing to purchase it. Both parties need to be transparent and honest.
Property disputes are also common. Common issues include property boundaries, easements, or property rights. You can avoid these issues by being proactive and doing your homework before buying any property. A qualified real estate agent can help you conduct a comprehensive property survey and title search so you can verify the exact boundaries and ownership rights.
Zoning can be an issue for commercial properties, as it can affect land use. If you want to use the property for agriculture, for example, you need to ensure you can legally do so. You’ll need to adhere to zoning restrictions or else you could face legal complications as well as project delays. A lawyer can help you understand local zoning regulations so you are in compliance.
Seek Legal Help
Real estate costs a lot of money. It is an investment that can lead to a lot of headaches if rules are not followed and homebuyers and real estate companies act unethically.
There are a lot of nuances and complexities regarding this type of litigation. Fort Lauderdale real estate litigation lawyer Edward J. Jennings, P.A. has several decades of experience helping Florida clients with their real estate litigation needs. Call 954-764-4330 or fill out the online form to schedule a consultation.