The Benefits of Consulting With a Real Estate Attorney

The Benefits of Consulting With a Real Estate Attorney A real estate attorney can help you in a variety of related matters. Real estate may consist of agricultural, forest, brick, and water, residential and commercial property. Well-informed lawyers know everything about any kind of property. They can advise you on matters concerning litigation, fraud, purchase agreements, leases, grants and concessions, and anything involving land legislation. A real estate attorney does not neglect any matter about land legislation, however small. They can help you with legal matters, as well as financial and business matters. Therefore, it pays to hire a professional to have him or her as a specialist legal consultant in a business.

Many mortgagors are unaware of the exact provisions of the Truth in Lending Act and therefore this law is often violated because mortgagors are ignorant of it and their rights concerning the law. If there is a violation of the Truth in Lending Act, this can be a basis for rescinding the loan contract. Therefore, all mortgagors should carefully consult with an attorney to see if their creditors have faithfully complied with the law.

Therefore, to plug these loopholes, congress passed the Truth in Lending Act to curb abuses of mortgagees against their mortgagors. Since the passage of the Truth in Lending Act, mortgagors had a legitimate defense against being taken advantage of by their mortgages. Another important legislation that prevents further abuses in transactions is the Real Estate Settlement Procedure Act of 1974. Oftentimes contracts have many hidden fees that are not disclosed to the buyer at the time of sale. The Real Estate Settlement Procedure Act makes it mandatory for sellers to disclose any additional cost to buyers who may be unaware of these costs before the contract between them takes effect. Therefore, buyers will know of any additional costs they have to incur before buying a property.

Lawyers can inform you of your existing rights and the ways to counter the effective circumvention of the law. Real estate lawyers can review all your loan contracts and discuss all the options with you if a violation or circumvention of the law occurs so that you can rest assured that your rights are being protected.