In law, there are two types of property: real property, which this webpage covers, and personal property. To be more specific in regards to real property you can think of it as land and ordinarily anything erected on, growing on, or affixed to it. The term land, in its general terms, includes not only the face of the earth but everything of a permanent nature over or under it, including minerals, oil, and gases.
In the United States, each state has exclusive power to create and enforce laws governing how real property is transferred (buying & selling), leased/rented, or used, as a result, there are significant differences between states. Since Gugliotta & Ponzini practices in more than one state, we will only cover Real Estate & Property Law in general terms here, however, if you have any questions feel free to contact us.
When property is sold, real estate brokers or agents are often hired by the seller to obtain a buyer for property. Real estate brokers, agents, and salespeople are licensed and regulated by local state laws.
A real estate agreement between a buyer and seller of real estate is governed by general principles of contract law and individual state laws. The sale or transfer of real property is almost always required to be in writing. It is often required in real estate contracts that the title to the property sold be “marketable.” An attorney or a title insurance company is frequently employed to investigate a title’s legal marketability.
In order to pass title, a deed with a proper description of the land must be executed and delivered. Some states require that the deed be officially recorded to establish ownership of the property and/or provide notice of its transfer to subsequent purchasers.
In addition to the purchase or sale of lands, states typically regulate the renting or leasing of property for residential or commercial purposes. Such laws cover a range of practices, such as how security deposits are handled, evictions, and more.
State and local laws may also have a substantial effect on how owners use their property. Zoning and environmental laws affect development and construction projects. Further, community or homeowner association rules affect the use of property in many modern residential communities. FindLaw’s Real Estate Center has in-depth information on buying a home, refinancing a home, selling a home, avoiding foreclosure, and more. You can find out what you need to know about renter’s rights, finding the right mortgage, home equity loans, foreclosure, and a host of other real estate issues.
Whether you are a first-time homebuyer or more experienced in the real estate world, our firm provides guidance as to all aspects of a real estate transaction, such as inspections, contracts, title insurance, mortgage financing, private financing, and closings. When other real estate professionals are needed, we can make referrals to real estate brokers, inspectors, and mortgage lenders to make sure that your deal is handled as diligently and smoothly as possible.
Our firm has handled thousands of Real Estate transactions throughout California, Connecticut, and New York. Our job is to protect the interests of our clients during the transaction thus avoiding the many potential issues which can arise at closing and post-closing. If, however, you have any post-closing issues, we are experienced in resolving these issues either through negotiation or if necessary, litigation.
Buying or selling a house, Co-Op or condominium can be one of the largest and most significant financial transactions in one's lifetime. Although a real estate closing itself may seem simple, what takes place before and sometimes even during the closing can be complicated and stressful. It is imperative to have an experienced real estate lawyer to help you make the right decisions and deal with any problems that may arise swiftly and ethically before they become crises or deal-breakers.
Residential Real Estate Closings;
Commercial Real Estate Closings;
Commercial & Residential Leases;
Real Estate Litigation;
and all other related Real Estate Matters.