The real estate field is densely complex, characterized by the presence of legal formalities, paperwork, and other multifaceted laws governing all dealings in property. Whether you are in the buying, selling, renting, or investment sections of real estate, the involvement of a real estate lawyer keeps away numerous allegations and running around with legal procedures. The property law attorney conducts a title-search and also handles the disputes pertaining to the issues around a piece of real property.
In India, real estate is regulated by a set of laws like Real Estate Regulation and Development Act, 2016 (RERA), the Transfer of Property Act, 1882, the Registration Act, 1908, the Indian Easements Act, 1882, and the Indian Contract Act, 1872. Because of this myriad array of laws, interpretation becomes almost impossible, and the RERA lawyer lets it be their bread-and-butter business to help you out with the same.
How Lawyers Help in Real Estate?
The real estate lawyer is going to make sure that your transaction is kept clear and free of problems according to the requisite laws. Here is how they are going to help you:
Property Title Verification:
- It is important to investigate whether the seller has a clear title before a property is purchased. The property law attorney checks historical records, legal documents, and encumbrances to verify title.
Drafting and Reviewing Agreements:
- Real estate transactions such as sale, lease, and builder-buyer fall under the umbrella of contracts. A lawyer ensures these contracts are framed under the Indian Contract Act, 1872 and your best interests are also protected.
RERA Compliance:
- According to the Real Estate Regulation and Development Act, 2016 (RERA), all real estate projects must register with the authority; the RERA lawyer aids the homebuyers in checking on applying for project registration, raising a complaint against the system, and pursuing the defaulting builders with minimal fuss.
Registration of Property Documents:
- Subject to prior registration, property transactions gain legal validity under the aegis of Registration Act, 1908. A real estate lawyer will help in drafting the documents and pay stamp duty during the registration process.
Handling Property Disputes
- Property disputes, land encroachments, breach of agreements, etc., are all everyday occurrences. A property law attorney thus offers legal solutions and represents clients in court.
Inheritance and Will Drafting:
- A real estate lawyer drafts wills, executes inheritances, and also manages succession issues to ensure smooth property transfer under the Transfer of Property Act, 1882.
Types of Real Estate Law in India
The real estate sector in India is governed by several laws, dealing with many aspects of property transactions. Following are the chief real estate laws in India:
Property Transfer and Ownership Laws:
- These set of laws deal with the transfer of property from one party to another. The Transfer of Property Act, 1882 deals with sale, mortgage, lease, and exchange of property.
Real Estate Regulatory Laws:
Land Registration and Documentation Laws:
- The Registration Act, 1908, safeguards that property dealings are duly entered into the record to avoid fraud issues. Proper registration provides valid evidence of any one's right on the said property.
Easement and Land Use Laws:
- The Indian Easements Act, 1882, deals with such rights in relation to the usage of another person's property; the right of way, the right to light, and the right of water.
Contractual Obligations in Real Estate:
- Real estate deals shall involve a contract of which must conform to the Indian Contract Act, 1872. A real estate lawyer assures that the agreements are of legal standing and enforceable under law.
What Does a Real Estate Lawyer Do?
A real estate lawyer does a diverse number of things which are all aimed at protecting his or her client's interest in property dealings. Here is a look at what they do essentially:
- Legal Due Diligence: Prior to any purchase of property, a lawyer carries out due diligence by the verification of ownership records, encumbrances, and compliance with the laws such as RERA.
- Drafting Legal Documents: A property law attorney drafts sale deeds, lease agreements, and mortgage deeds for them to be valid and legally protect rights.
- Resolving Real Estate Disputes: A RERA lawyer handles disputes about delays in project completion, breaches of contract, and other fraudulent dealings, providing representation for clients before RERA authorities, consumer courts, and civil courts.
- Helping with Property Registrations: Right from paying stamp duty to registering property documents under the Registration Act of 1908, a real estate lawyer ensures that all the legal formalities are duly complied with.
- Legal Representation in Court: A real estate lawyer will give representation to clients in the event of property litigation, ensuring all their interests are taken care of.
Real estate is a money-intensive business, so having legal protection is very important. A real estate lawyer guarantees that, when buying, selling, or investing in real estate, the entire business complies with the laws of RERA, the Transfer of Property Act, 1882, the Registration Act, 1908, the Indian Easements Act, 1882, and the Indian Contract Act, 1872. An experienced property law attorney protects your right, keeps you out of legal troubles, and provides expert guidance at every stage.
Legal intricacies with regard to property need a RERA lawyer or a real estate lawyer to protect your investments in real estate and avoid disputes. Be it document verification, property registrations, or litigation, the intervention of a lawyer will ensure that the deal goes through smoothly and legally.
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