Are you a real estate investor who took advantage of the real estate market in 2021?
You're not alone. According to RedFin News, real estate investors bought 80,000 homes worth 50 billion in the fourth quarter of 2021.
With unprecedented mortgage rates in 2021, whether you were a buyer or seller, the real estate market benefits both parties.
Real estate transactions can be tricky with all the different laws surrounding easements, purchase contracts, deed preparation, and taxes.
Have you ever wondered what is real estate law? Real estate law or property law generally refers to laws controlling the ownership or use of land in the United States. This property can be land and the land underground, such as oil.
An experienced real estate lawyer is always a good choice for anyone beginning their real estate journey and seeking guidance in real estate law.
Real Estate Law Explained
Real estate law covers a wide variety of transactions that can be complex. Simply searching Google for real estate terms will not get you much farther.
Whether your property is located in Pottstown, West Chester, or Pittsburgh, our expert real estate lawyers can breakdown the following:
- Easement and Right of Way
- Deed Transfers
- Real Estate Acquisitions and Sales
- Various Real Estate Tax Strategies
Below, we'll discuss each of these sections in greater detail.
Easement and Rights of Way
An easement is the rights that some other party has on your property or property you are interested in purchasing.
From driveways and utility rights of way for water or electricity, a seasoned real estate lawyer will provide you with all your options.
A deed transfer is a legal document that indicates a change of ownership. As easy as it sounds, mistakes and errors often do occur.
A deed transfer and deed preparation may require a realty transfer tax or negotiating with a separate party to remove yourself from liability.
Real Estate Acquisition and Sales
As expert real estate lawyers who understand real estate law, and various real estate transactions, we can do more than prepare purchase contracts.
Educating real estate investors, buyers, and sellers is our top priority. The acquisition or conveyance of a property requires an effective strategy to ensure that your real estate transaction benefits you.
Various Real Estate Tax Strategies
There is no gift tax in the state of Pennsylvania. However, the Federal gift tax is a factor to consider when transferring property to heirs. Our estate and real estate lawyers can help advise you on your best options.
In addition, a better understanding of Pennsylvania's real estate law may help Pennsylvania residents take advantage of property tax exemptions and other tax strategies.
Get Started With A Real Estate Lawyer Today!
Now that you better understand real estate law, are you ready to answer all your real estate questions?
Buying a home or acquiring a commercial building can be complicated. Understanding your best options before signing on the dotted line is always recommended.
We are happy to help. It is our goal to get you through your real estate transaction smoothly.
Contact us today to schedule your consultation!