Real Property

Legal due diligence

Investing substantial amounts of money always requires a decent certainty that the acquired asset is safe so to speak. To avoid getting bound in a long and expensive after the fact legal disputes regarding recently bought real property we heartily recommend the performance of a legal due diligence in respect of the property of interest. No matter if you are planning to acquire an apartment for personal use, land for building construction, agriculture activities or any other reason what so ever a number of inquiries are to be made as to be aware of the presence of any risks.

 

Preliminary agreement

Almost always the first step in buying or selling a real property is concluding a preliminary agreement with the seller containing the main aspects (price, term and liabilities) of the final agreement. The best moment to procure legal assistance is at the negotiation phase prior to signing of such an agreement. An experienced attorney at law might help you with negotiations, finds points to draw the price down or up, depending whether you are buying or selling, and will most importantly be able to spot the presence of potential risks. More the point the clauses of the preliminary agreement are very much enforceable and more than framework the final agreement. So it is very import to have all the important aspects of the future agreement already envisioned and fixed in the preliminary one, and we cannnot stress that enough. 

 

 

Final agreement

Everything said above in relation to the Preliminary agreement applies to the final agreement as well. It is of the upmost importance to have your interests – your investment and time protected as best as possible. This requires a legal advisor experienced in negotiating and contract drafting. Both services in which we specialize.

 

 

Complications

The number of complications that might arise in relation to the legal status of a real property is too great to list. For information’s sake here are some of the common ones: Regulation issues, Cadaster issues, Real property encumberments, Leasing issues and etc.

 

At the first inclination of a problem it is the best course of action to consult a specialist. The timely engagement of an expert will in most cases save a lot of expenses.

 

 

Division of real property

There are a number of ways to become a co-owner of a real property. When said co-ownership becomes a problem or the reason for dissent the best course of action is to implement either voluntary or judicial division of the property. Both procedures require experience and legal knowledge and are best handled by a professional.

 

 

Condominium

Jean-Paul Sartre said “Hell is other people”. The quote often strikes a cord for people living in a condominium. The maladies of managing such a property- gathering monthly installments, funds for a repairs or other similar issues might be solved more easily with the assistance of a specialist. Even if no concrete actions are required a consult might provide you with the edge you need to implemented the necessary actions.

 

 

Agreement for construction (Superficies)

In some cases owners of a land plot enter into an agreement with a potential investor and construction company. The owner of the land provides the land and the investor the funds, know-how and construction operations. This can be a potentially beneficial agreement for both sides. However it is often the case that the inexperienced owners of the land get the short hand in dealing and negotiating with the investor. The engagement of a proficient attorney at law is mandatory and will significantly increase the value the owner of the land will receive. Our experience in this field shows that the investor almost never abides to the provisioned terms and tries to strong hand the land owner. The only remedy is a strong, concrete agreement which binds the actions of the investor.