In Real Estate Laws, you are entitled to know what documents you are signing and why. You have to be reasonably sure that you are not rushed or pressured into signing something even before you fully understand it. It is for your own protection that you should clearly understand what you are signing, why you are signing, and its consequences.Certain precautions should be taken when signing documents governed by the Indian Real Estate Laws. Real estate purchase and sale agreements, leases or rental agreements, Real Estate agreements signify significant financial obligations. It is rarely possible to avoid legal obligations of an agreement, once it is signed. The legal implications of legal forms must be clearly understood.Always read a document before you sign itUnder Property Law in India a Real Estate legal document represents a highly legally binding agreement or promise to which, upon signing, you agree to what it says–not what you think it says. It generally cannot be altered unless both parties agree. Moreover, you may require legal help. Your signature could legally bind you to certain actions or payments.It is sensible to prevent problems than to amend themIf an agreement involves complicated legal language, you may want to hire India Legal services to have all the provisions reviewed before you sign. Insist on receiving a copy of the signed document. Property Laws in India favour a written contract documents so if you are uncertain about signing a document, seek legal information and advice.Instances of property disputes in India are many and promises that are not included in the written contract cannot be relied upon.Signing ContractsA purchase and sale of real property can be a complex transaction and may require you to hire Indian legal services. When making an investment, a lawyer can provide information on India laws online and in person as well.You can seek Legal services in India in Real Estate to protect yourself against fraud or deceptive and unscrupulous behavior. You can insist that before you sign the document–that oral promises or representations should be written into the agreement.Lease and Rental AgreementsOne of the most common situations warranting caution while signing a written contract arises when renting a home, apartment, commercial space or other property. A lease creates a tenant’s right to use property for a specified term. Make sure all oral agreements are written into the contract.The “lease” or “rental agreement,” should cover all terms of the agreement with the property owner, especially the rent amount, dates of possession, notification requirements to terminate the lease, lease agreements and subletting/transferring the lease, or occupancy and use of the premises.Formalities in Signing DocumentsThere are certain formalities that must be observed when signing documents. While witnessing a will, for instance, the witnesses must sign the document in the presence of the person making the will or the testator. Documents such as property deeds require the signature to be acknowledged before a public officer (usually a notary public).You may be asked to co-sign an instrument or document, for instance a promissory note or a guaranty to accommodate someone else. Though you are not directly involved in a transaction, you may be personally liable for the obligation created by that document if that person fails to pay or perform the obligations required by the document. Make sure that you have ample confidence in the financial ability of that other person and in his or her integrity.Contract TermsKnow the terms of a contract and do your homework before signing any contract. Defying mortgage terms means that the mortgagor has full rights to that home if you back out of your promise for payment. It is a good idea to have a lawyer or agent present for the closing of the deal.Real Estate lawyers and Agents are adept at the closing process and can explain the related paperwork.
The latter-day problems that are arising in the housing industry has resulted in cancelled and discarded construction projects. As a consequence, there is an increased need of construction and real estate litigation like never before.The project of construction comprises a range of contracts between numerous parties. Real estate law is not an ordinary law because of involvement of so many people in a single project. As it is related with many people, among those people anyone who feel he is not treated as mentioned in contract, can seek legal help.As construction litigation covers a plenty of issues, so you need a construction law attorney who can help with proper formulation, reviewing and negotiation. A construction lawyer helps you in making a legal contract that provides you protection for your business interest and gives you real peace of mind. If a contract has been already made, a lawyer can help you with the reviewing. This will prevent you from future problems by detecting the loopholes in the project (if any). A lawyer can also help you with the negotiation like he can negotiate with the customers, sub contractors and suppliers. He can help you to divide money according to the priorities assigned.There are numerous real estate law firms all of them deals in some specific issue like:Delay in construction that leads to constructor’s problem as he has invested his money in the project, cost overruns and change orders, contracts, defective work claims including roofing defects, water intrusion, safety issues regarding structural life, liens, mold and mildew claims, insurance coverage issues and the related documents including loan documentation. Choose the appropriate lawyer who is experienced enough to handle that particular issue.If you have already entered into a project, you can still seek help from construction lawyer. He can help you with the administration, enforcement, documentation and providing you with the best possible defence.Administration: Your attorney will help you to stay within your contract limits. If you will understand clauses thoroughly, it will help you at the time of execution of the contract.
Enforcement: A lawyer can help you in setting right agreements especially if you are entering a contract with sub contractors or material suppliers so that the agreements will be maintained legally.
Documentation: A lawyer will ensure you proper protection with the legalised documentation so that if you encounter any problem in future, you can seek legalised help.
Defence: Your attorney is the only person who can defend you from legal obligations or for the loopholes o the contract.You must have understood the need of real estate litigation. So, be prepared with your attorney whenever you are going to sign any new contract or deals with the other parties involved in the project. Make sure you have chosen the right lawyer who has done expertise in the particular arena in which you are seeking his help. As only an experienced lawyer can help you resolving your litigation related issues and provide you with legally sound solution.