Real Estate Contracts Are Legally Binding
Real estate matters — purchases, sales, and leases of property, among other considerations — are governed by contract law as well as state law. Generally speaking, contracts are established to protect all parties involved from financial risk. It is important to draft contracts in such a way that they take all likely contingencies into account, which can help parties avoid litigation later on. To this end, enlisting a knowledgeable attorney to help craft your agreement can be an important step toward safeguarding your interests.
For more than 25 years, Tim Hayes Law has assisted individuals in Terre Haute and the surrounding region in their real estate considerations. We offer experienced counsel to developers, buyers, sellers, laborers, architects, contractors and others as they work toward property agreements. We are skilled in ensuring that contracts are drafted favorably and, when a breach occurs, we will aggressively assert our clients’ rights in court.
Assistance In A Full Array Of Real Estate Law Considerations
Tim Hayes Law provides guidance in a full complement of real estate law concerns, including:
- Purchase agreements — Contracts between buyers and sellers outlining the basic terms and contingencies of a real estate transaction. Purchase agreements pertain to residential properties where the construction is completed or will be completed by the closing date.
- Deeds — A document that officially transfers ownership of a property. It should contain the name of the current owner, the new owner, and a legal description of the property in question.
- Land contracts — A special type of agreement, in which the seller of the property provides financing to the buyer, who repays the loan in installments. In a land contract, the seller retains the legal title to the property until it the contract is fully paid.
- Farm sales — Selling a farm is unlike selling other types of property. There are special tax considerations for families and businesses. Our firm will help guide you through them.
- Lease agreements — A lease establishes a legal and financial relationship between a property owner and a renter. It will include agreements regarding rent payment, renewal, subleasing rules, how the property can be used, and behaviors that result in eviction.
It is imperative that you understand each and every aspect of a real estate agreement. Tim Hayes Law reviews contracts thoroughly, and informs clients of potential drawbacks. When a situation requires it, we will take matters to court.