When it comes to property dealing then you will always have to follow the simple saying ‘Precaution is better than cure’. Most of the property dealings involve a huge amount of investment and in some cases, lifetime savings as well. This is why you always need to take precautions during property dealings as they can become quite complicated and time taking. But if you are thinking that property dealings are limited to individuals only then you are highly mistaken. Even businesses have to face various types of real estate litigation.
According to the data provided by Forbes, 36–53% of small businesses are involved in some type of litigation and real estate litigations are the most common ones. Real estate litigation is a type of legal tool that is used by and against real estate brokers, agents, sellers and buyers, tenants and landlords for pursuing legal rights and redress experienced wrongs. In this blog post, we will go through some of the most common causes of real estate litigation in a very detailed way.
Failing to adhere to the terms and conditions of contract
For selling a property you own, you will first have to sign a proper contract and that contract will contain all the necessary terms and conditions that must be complied with during the property dealing. Some of these common terms and conditions are closing date, financing, title clearance and more. If the party involved in the property dealing fails to adhere to any of the terms and conditions mentioned in the contract then it leads to breach of contract. If you don’t want to deal with such a situation then it is always a better idea to hire Lake Charles real estate litigation lawyer. A good litigation lawyer can help in avoiding a breach of contract by taking proper precautions.
Failing to perform action mentioned in the contract
In addition to the basic terms and conditions, there are different types of performance mentioned in the contract as well. If a party involved in the real estate deal fails to perform a particular type of action mentioned in the contract then a specific performance action forces the party involved in the contract to do what was promised. For example, if the other party has refused to sell the property then you can ask the court to force the person to proceed further with the property dealing because it was a part of the performance in the contract. Lake Charles real estate litigation lawyer can guide you on what to do if the other party fails to perform a certain type of action mentioned in the contract.
Breach of duty
If you are a tenant or a landlord then it becomes crucial for you to know that tenants have the right to a completely safe and habitable property. If a landlord is not able to provide regular maintenance or repairs or if someone is injured due to this type of negligence then it can result in litigation and it can happen with businesses as well. If you want to skip the costly acquisition of negligence then you will need to follow all the required code of ethics for your occupation and if you are the landlord in this case, then you will need to address maintenance and repair requests as soon as possible.
It doesn’t matter how safely you run your business or how serious you are about the legal aspects, you can never wipe out the chances of real estate litigation completely. But you can surely work with Lake Charles real estate litigation lawyers in order to deal with real estate litigation easily.