In India, buying and selling real estate is complicated and requires a tonne of paperwork. With the implementation of new real estate rules in India. This article will guide you on How to find a real estate lawyer in India.
Who is a real estate lawyer?
In India, a real estate lawyer is a licenced expert who supervises all real estate deals including real estate law. They are in charge of drafting, reviewing, and negotiating the terms and conditions of the legal documents used in real estate transactions.
Additionally, they handle everything, including looking up a property's title and settling any real estate-related problems. They must create title search certificates in accordance with customer requests.
What do Lawyers for real estate do?
The following are the responsibilities of real estate lawyers
- They create agreements such as memorandums of understanding, leases, leave and licence agreements, etc
- give their customers advice on a range of real estate-related issues.
- execute complex regulatory and compliance-related tasks in accordance with evolving legal requirements.
- thorough due diligence, which includes everything from running a title search to checking share certificates and ownership documentation to directing and registering the property's sale.
- Additionally, real estate attorneys may work for law firms, public institutions, RERA offices run by state governments, or real estate firms.
- Settlements and dispute resolution in district and higher courts.
How can I Find Real Estate lawyer?
Online Search: Looking for a real estate attorney online is another option. However, one must exercise caution because determining competency can be challenging. Reviews are an excellent method to learn about the benefits and drawbacks of a lawyer.
Word of Mouth: A reliable friend or acquaintance who has handled a real estate transaction for them in the past may be able to recommend a real estate attorney to you. To find a real estate lawyer, a referral is one of the most effective ways.
How can one tell if a flat is legitimate? You can determine whether the apartment you are thinking about is lawful by using the following checklist:
- Title documents
- banks' blessings
- Obligation Certificate
- approved site map for the flats
- property tax statements
- location within a licenced housing cooperative.
BAR Association: It's crucial to find a real estate lawyer with the necessary credentials, such as a law degree and knowledge of the relevant state real estate laws.
When should a buyer of a house engage a real estate lawyer?
In order to ensure that all the paperwork included in a real estate transaction is legal and ethical, home buyers should contact a real estate attorney to assist them. A real estate attorney should carry out the following tasks on behalf of a home buyer:
Investigate Statutory Approvals
Before the sale of the property can begin, a real estate attorney will ensure that all essential approvals for the transfer of the property have been secured by the appropriate authorities.
Examine the property title
A real estate attorney will ensure that the seller has unambiguous and transferable ownership rights over the property being sold. The property should not be the subject of any ongoing litigation, and the title should be transferable.
Managing Conflicts
Real estate lawyer will handle any conflicts that arise during the sale of the property with the best interests of their clients always coming first.
How to Handle Power of Lawyer
Building developments on parcels of land owned by many owners under power of attorney is a regular practice. When dealing with one or more powers of attorneys during the sale of a property, a real estate attorney will keep in mind the safety measures to be taken.
Conclusion: We hope that this post clarifies the significance of working with a knowledgeable real estate lawyer to streamline the property purchase process. It is impossible for the average person to become fully knowledgeable about the pertinent Indian real estate rules and procedures in their state. However, having this knowledge is crucial to ensuring that you do not fall for a scam or engage in any illegal activity. The best course of action to take when navigating these situations is to hire an experienced lawyer.
