Real Estate Law in New Jersey
In New Jersey, it is highly recommended to hire a real estate attorney to ensure that your property is secure and that you are protected if a problem arises regarding the house in question. Real estate contracts may contain legalese that is challenging to decipher, so it is wise to retain a skilled legal professional to explain the complexities of real estate law and protect your financial interests.
Guidance from New Jersey Real Estate Lawyers
The New Jersey real estate lawyers at Lyons & Associates, P.C. will advise you on the following within real estate law:
- Buying and selling a property
- Financing options
- Land use/survey needs
- Home inspections
- Title Insurance
- Draft seller documents to be recorded
- Liens and judgments
- Municipal permits
- Quitclaim Deeds/refinancing a buyout
- Short Sales/Deed-in-Lieu
- Real estate disputes
Our real estate attorneys will examine the title and assist in ensuring it is clear. If you need guidance choosing a financial option, we can provide direction regarding the various options that will suit your circumstances. Once the real estate transaction is ready to close, we will draft and review the seller’s documents and ensure that your interests are protected, so that you can move toward the next chapter of your life.
Buying and Selling a Home
Whether you are purchasing a property or selling your home, our lawyers will advise you during the process. In some cases, a deed, which states who currently owns the property, may need to be updated or created to show ownership. If you are selling a house, a quit claim deed may be drawn up to show the transfer of ownership to the new owner. We will negotiate the real estate transactions, review the title, and ensure that the contracts are free from loopholes that may threaten your ownership rights. When the closing of the purchase or sale occurs, we will be by your side to make sure that no loose ends remain. If any real estate disputes arise, we will rectify the situation to the best of our ability.
So many financing options exist today that assistance may be necessary to select the appropriate loan or mortgage that is right for you. You may wish to apply for a home equity loan or need guidance as to which type of mortgage is most beneficial. Our attorneys can explain the various types of loans and put you in touch with knowledgeable lenders.
Land Use/Survey Needs/Municipal Permits
If you are buying a parcel of land on which to build your dream house, there may be several hurdles to bypass before work commences. Most municipalities in New Jersey require surveys, permits and environmental documentation to begin the process. Your real estate lawyer will advise you as to the inspections that are necessary, which permits need to be obtained and whether or not a survey is needed.
If you cannot pay your mortgage due to job loss, divorce, medical issues, and more, the bank may want to begin the foreclosure process. In order to avoid foreclosure it may be necessary to do a short sale or a deed-in-lieu with the bank.
Short sales occur when an owner must sell the property but for less money than he or she owes the bank. The bank will then forgive the remaining balance. Some homeowners may find it more beneficial to request a deed-in-lieu from the bank wherein the owner willing gives the bank his or her property for forgiveness of some or all of their debt. These alternatives to foreclosure may be options for some homeowners who may be experiencing financial hardship and cannot pay their mortgage. It may be arranged between the lender and the borrower before foreclosure takes place.
Quitclaim Deeds/Refinancing a Buyout
When a couple is in the middle of a divorce, one party may not be able to afford to stay in the marital home. In these instances, a real estate attorney can help one party to refinance the home and buyout the other party. In instances such as this it is necessary for the party being bought out to sign a Quitclaim Deed in order to relinquish his or her rights to the home.
Whenever a couple decides to buy a home, it is prudent to obtain title insurance. Title insurance protects the owners from someone else attempting to make a claim on the property. A real estate attorney can help you obtain title insurance and clear any judgments or liens that might be encumbering title.
New Jersey Real Estate Lawyers at Lyons & Associates, P.C. Advocate for Homeowners
Owning a home may be the best investment you make toward securing your future. Ensure that the future of your family is secure by calling our New Jersey real estate lawyers at Lyons & Associates, P.C. at 908-575-9777 or contact us online to schedule a consultation today. We serve clients throughout New Jersey, including Basking Ridge, Bedminster, Bridgewater, Chatham, Madison, Mendham, Morris Plains, Morristown, Parsippany, Randolph, Rockaway, Short Hills, South Plainfield, Woodbridge, and the counties of Morris County, Somerset County, and Union County at our offices in Somerville, New Jersey.