Why you need a Real Estate Lawyer in Boston When Buying a House & Knowing How To Protect Your Assets

5 IMPORTANT THINGS YOU SHOULD KNOW ABOUT REAL ESTATE LAWS TO PROTECT YOU IN BOSTON

REAL ESTATE ATTORNEY | CONSTRUCTION LAWYER BOSTON Estate Planning Attorney in Saugus & East Longmeadow, MA Saugus, MA – Request a free consultation – 781- 558-5172 & 413-224-2286

Did you know that Boundary disputes might be a threat to your property rights ?

Do you need a Lawyer when purchasing a house ?

So You’re Thinking about purchasing a house. Whether you are a first-time buyer or you’ve been around the block, you are aware that property is a major investment. Why not do it ?

What can go wrong ?

People who buy a House work with A real estate agent. Realtors can’t always customize an agreement to your needs or explain in detail the potential consequences of signing documents before you know what they are saying, Even though this isn’t a bad idea in itself.

The following are some common mishaps that Occur when buying a home:

Signing a contract which fails to address legal issues. Realtors utilize standard forms. However, one size does not always fit all If it comes to getting home. It is important to have if there’s anything slightly out of the ordinary about the situation or that of the vendors. Failing to do so can leave you with issues down the road.

You are failing to ask the right questions during discussions. Especially if you have never purchased a home before, you might not understand all the questions to ask when negotiating a purchase. If alterations to the property were performed legally Are you aware? Does your contract speech what happens if the inspection turns up a problem like termites or asbestos? If the closing never occurs will there be penalties? Not knowing the answers to those questions and others may leave you.

You are the sole party at the closing without an Attorney. It is important to make sure your best interests are protected when you’re purchasing a house. Especially when everyone else has one, you put yourself in danger of being taken advantage of making a mistake if you show up to finalize your sale without an attorney representing you.

How an Attorney can shield you

Purchasing a home should not be taken lightly. One mistake could render you trapped in poor circumstance. With a lawyer on your side, however, you can rest assured that you’re leaving no stone unturned. If things aren’t going your way, your attorney can make sure you are asking the ideal questions, and safeguard your rights. Simply speaking, your lawyer can help make certain you feel 100 percent confident when it comes time to signal the purchase agreement.

What constitutes a legally binding real estate agreement ?

Gone are the Times when all property transactions are individually signed by each party, and completed contracts are exchanged on paper. Instead, with no exchange of signed paper documents, many deals are managed through signatures, or what are deemed to be electronic signatures, in today’s digital age. As this has sped up the speed of forming and finalizing property contracts, also created a great advantage for buyers, sellers, realtors, and attorneys, it also raises significant questions about when and when a contract has been formed, the conditions of that contract and, of course, has created fertile ground for disputes. There are two kinds. One worries whether negotiations conducted through email or even text message can form a binding and legal agreement. The second involves whether a written contract, the terms to which have been agreed to, can be made effective without an ink. In either case, it behooves participants in transactions involving the purchase or lease of real property to comprehend what constitutes a legally binding agreement in the state of Massachusetts.

Formation of Real Estate contracts

Whether they Are between sellers and buyers, landlords and tenants, or many others, virtually every type of real estate relationship or copying needs a contract with conditions which are sufficiently full and definite, evidences a current intent of the parties to be bound, and is in writing within the meaning of the Statute of Frauds. Common real estate contracts include:

1) Offers to Purchase
2) Buy and Sale Agreements
3) Residential or Commercial Leases
4) Rights of First Refusal and other Option Contracts
5) Easements

“An Enforceable arrangement requires (1) terms sufficiently complete and definite, and (2) a present intent of the parties at the time of formation to be bound by those conditions.” Targus Group Intern., Inc. v. Sherman (“Targus”), 76 Mass. App. Ct. 421, 428 (2010). While not all terms of the arrangement must be specified, the parties should have at least progressed beyond”pristine discussion” and also a “meeting of the minds” must be reached. Lafayette Place Assocs. v. Boston Redev. Auth. , 427 Mass. 509, 517 (1998). Thus, completeness and also a present intent to be bound require that”the material phrases [be] put and agreed upon.” Fecteau Benefits Group, Inc. v. Knox (“Fecteau Benefits”), 72 Mass. App. Ct.. 204, 212 (2008). The fact that, as part of the agreement, the parties have explicitly contemplated that additional documents finalized or completed are ready neither vitiates the completeness of an agreement, nor the parties’ present intent to be bound. Watch McCarthy v. Tobin, 429 Mass. 84, 87 (1999).

It may be Surprising to most. However, the reach of the material terms is not necessarily extensive. Typically it is adequate if the property and purpose of this agreement, i.e., its overall subject matter, and price are all identified. See McCarthy, 429 Mass. at 86 (“land to be sold and the cost to be paid” are crucial terms and”the residual terms covered by” a formal agreement are”subsidiary matters which didn’t preclude the formation of a binding contract”); A.B.C. Auto Parts, Inc. v. Moran, 359 Mass. 327, 329 (1971) (finding that an endorsement on a test which indicated that the nature of the trade, parties, property, and purchase price satisfied the Statute of Frauds).

Contracts For the selling of property, whether by promise or agreement, are enforceable by writing that includes the essential terms of the agreement and is signed by the party against whom enforcement is sought only if they are encouraged. See G.L. c. 259, § 1, Fourth Par. (” no action shall be brought… upon a contract for the sale of lands, tenements, hereditaments or of any interest in or concerning them… unless the promise, contract or agreement upon which such action is brought, or some memorandum or note thereof, is in writing and signed by the party to be charged therewith or by a person thereunto by him lawfully authorized.”). Whether writing satis fies the Statute of Frauds is a matter of law. Schwanbeck v. Federal-Mogul Corp.. , 412 Mass. 703, 709-710 (1992).

Over the Decades, text message exchanges, and now emails, have become common between parties to real estate transactions. Participants in such exchanges must bear in mind that a series of emails or text messages, discussing and agreeing to terms of a possible trade, have been held to satisfy the Statute of Frauds, and doctrines of both completeness and current intent to be bound, sufficient to make binding contracts. Fecteau Benefits, 72 Mass. App. Ct. at 212-213 (parties meant to be jumped by emails settling a charge dispute in which they formed a clear and total agreement including material terms like the number of legal fees, a deadline for approval, and acceptance with no equivocation); Slover v. Carpenter, 24 LCR 1, 4 (2016) (“Emails between the parties can produce a binding contract that satisfies the Statute of Frauds, provided the emails contain all vital terms”); Shattuck v. Klotzbach, 2016 WL 1460477, at *8 (Land Court, April 14, 2016) (“text message is a writer and that, read in the context of exchanges between the parties, and it contains sufficient terms to say a binding contract”); Feldberg v. Coxall, No. MICV201201649A, 2012 WL 3854947, at * 6 (Mass.Super. May 22, 2012) (string of emails between their lawyers regarding the sale of land has been sufficient to satisfy the Statute of Frauds ); Shattuck v. Klotzbach, No. 011109A, 2001 WL 1839720, at *3-4 (Mass.Super.Dec.11, 2001) (emails exchanged between buyer and vendor addressing specific contractual terms, including the closing date, purchase price, deposit amount, and waivers of contingencies held to meet the Statute of Frauds). And beneath the Statute of Frauds, several writings relating to the same subject matter of the agreement may be read together to form a contract, as long as the writings, when thought of as a single device, contain all of the material conditions of the contract and are authenticated by the signature of the party to be charged. Flynn v. Wallace, 359 Mass.. 711, 717 (1971) (finding that an unsigned deed with corporate meeting minutes authorizing the sale of the property was sufficient to satisfy the Statute of Frauds); Waltham Truck Equip. Corp.. v. Massachusetts Equip. Co.. , 7 Mass.App.Ct. 580, 583 (1979) (studying three newspapers together as satisfying the Statute of Frauds). The writings may, but don’t, include each other. Tzitzon Realty Co., Inc. v. Mustonen, 352 Mass. 648, 653 (1967).

The Uniform Electronic Transactions Act

If the terms Of an agreement are attained, what type of signature or action is enough to admit assent? While the reply to that question used to be in writing on a paper contract a signature, the dawn of electronic communications has changed the character of what constitutes a legitimate acceptance. Beneath the Uniform Electronic Transactions Act, outlined in M. G. L. c. 110G, § 7(d),”[I]f a law requires a signature, an electronic signature satisfies the law” An electronic signature is”a digital… symbol or process attached to or logically associated with a record and executed or adopted by a person with the intent to sign the record.” Thus a touch doesn’t need to be created, generated, sent or communicated under the UETA. See M.G.L. c. 110G, § 5(a). That is, a copy of a genuine signature sent and recorded electronically isn’t required. Instead,”[a]n electronic record or signature is attributable to a person if it was the action of the person. The act of an individual could be revealed in any way…”, M. G. L. c. 110G, 9(a); and is determined from the context, and surround ing conditions at the time of creation or execution. M. G. L. c. 110G, § 9(b). Thus, the name of a party appearing in the end of an email can be a sufficient”electronic signature” since”the typed name at the end of the email is indicative of a party’s intent to authenticate because the sender of an email forms and sends the message onto his own accord and types his name because he chooses.” Shattuck, 2001 WL 1839720, at *4 (email discussions may satisfy the Statute of Frauds even if the mails lacked a formal script signature); Feldberg, 2012 WL 3854947, at 6 (allowing particular parts of an email to satisfy the signature requirement of the Statute of Frauds).

For Landowners and property owners in Massachusetts, navigating real estate contracts can be challenging. This might be complicated in scenarios involving email and text messaging, and electronic signatures. To help ensure that parties understand their obligations and risks, it may benefit those who are involved in property transactions to seek legal guidance. An attorney can help ensure that landowners and landowners do not enter into a contract, or wind up with an arrangement that’s unenforceable or invalid.

Clouds and disputes: When a name search reveals trouble

The property has been found by you for, which you have been looking. Whether you would like to purchase a new house or a building for your business, it isn’t simple to find. You certainly want to act fast to secure the property Whenever you do.

The transfer of property titles is Complicated. Proving the owner has the right to market the property is one of the essential aspects of a property sale. Any problems that can complicate the sale are typically revealed by A detailed name search. Property law says there is a cloud on the title when research into the history of the property shows that someone might have a claim to it.

Title clouds Aren’t uncommon

One example of a cloud is that a Mechanic’s lien. When a contractor did repairs or improvements on the property, she or he may have put a lien on the title to guarantee payment. The contractor should have registered to release the lien while he or she was paid for the job, and a mechanic’s lien expires. However, if the lien is still hanging over the name, it will certainly bog own your final. Other factors that might cloud the name comprise the following:

1) Previous deeds
2) Wills or trusts
3) Divorce settlements
4) Bankruptcies
5) Tax documents
6) Court judgments
7) Liens for delinquent child or spousal support

A titleholder may Forge a spouse’s signature eliminate or to add the spouse from the name without his or her understanding. These clouds must be managed before the title can pass to you. It may be easy to fix, or it can involve tracking people down and settling a dispute.

Clearing the letting and clouds in The light

Estate transaction is always to get to the final table and find out there’s a cloud on the title of the property you are purchasing. There is A title dispute very likely to postpone the final procedure, jeopardizing your finances and other aspects of your ownership. There may be tons of reasons why Someone may dispute the name of the property that you need to get. If such a Dispute arises, you will wish to have solid representation to defend your Interests in the house. A property attorney with years of success will Examine every facet of your situation and provide the counsel that is right For solving the dispute.

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REAL ESTATE ATTORNEY | CONSTRUCTION LAWYER BOSTON Estate Planning Attorney in Saugus & East Longmeadow, MA Saugus, MA – Request a free consultation – 781-558-5172 & 413-224-2286

Comments

  • Gerald - Amazing Selling Machine says:

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  • James A. | Easy Forex Passive Income says:

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