The real estate market worldwide is worth over $3 trillion. That’s not just homeowners – real estate is one of the best investment opportunities out there.
But real estate isn’t always smooth sailing. Disputes can spring up if you’re not very careful.
So, what actions should you take if you end up in hot water? Let’s go through how to handle a real estate property dispute.
Table of Contents
Understand the Issue
Take the time to understand what the dispute is about. Identify the specific points of contention and gather all relevant documents, contracts, and correspondence related to the property.
For example, you might have a boundary dispute. These disputes occur when there is disagreement or confusion about the exact location of property boundaries between neighboring properties.
There are also title real estate disputes. Title disputes arise when there are competing claims or discrepancies in the ownership of a property. This can include property deed problems, liens, or conflicting property records.
Environmental concerns may lead to disputes related to property contamination, hazardous materials, water rights, or ecological impact. Resolving these disputes may involve environmental assessments or remediation efforts.
There are many other real estate litigation disputes that can arise, so make sure to prepare for any issue that could arise.
Check the Law
Carefully review the sales contract, lease agreement, or any other relevant legal documents. Familiarize yourself with real estate laws in your area and regulations that may apply to your situation.
You’ll want to delve into property law. Property laws govern the rights and obligations of property owners. These include matters like property ownership, title transfers, and property boundaries.
You could also run into legal issues with zoning. Zoning laws regulate how land and properties can be used in specific areas, including residential, commercial, industrial, or mixed-use zoning designations. These laws establish restrictions on property use, building sizes, setbacks, and other development regulations.
Consult an Attorney
If the dispute remains unresolved, it may be necessary to seek legal advice. Talk to an experienced real estate attorney to learn about your rights and legal options. They can figure out how the best ways to proceed and represent your interests.
You should also look for lawyers who specialize in your specific problem. If you need help with a partition action, for example, you can check out Underwood Law partition lawyers.
Explore Alternative Resolutions
Consider alternative dispute resolution methods if appropriate. One example is mediation. In mediation, you bring in a third party who helps with the negotiation.
There is also arbitration. This is a more formal alternative to mediation. An arbitrator hears both sides of the situation and makes a binding decision.
These methods can provide a faster and more cost-effective resolution than going to court. Discuss the available options with your attorney.
Handling a Real Estate Property Dispute: Now You Know
Hopefully, you now understand how to properly handle a real estate property dispute.
Do you need more advice navigating tricky situations? Read through a few of our other blog posts on legal issues and more.
