Buyers and sellers who enter into a real estate transaction ideally want the exchange to be mutually beneficial, free of hidden surprises and fast. Unfortunately, some of the problems that can arise in this process can delay closing the deal or even kill it. Here are several common issues that may emerge during a real estate deal — and how an experienced real estate attorney can get everything back on track.

3 Main Problems That Emerge in Real Estate Transactions

1. Improper Deed Issuance

There are instances when a person executes a deed to a piece of real estate property but lacks the legal authority to do so. As a result, the deed may be rendered unenforceable, leaving property rights in limbo. An attorney who specializes in real estate transactions will take the time to research deed history prior to an agreement between the buyer and seller. This allows both parties to determine if they want to continue untangling the improper deed issuance problem or move onto another property with less legal red tape.

2. Existing Liens

Banks, contractors, and companies that are owed money may place a lien on an individual or business’s property. A lien is essentially the legal right of a debtor to seize a home or commercial building until the owner pays off the debt. In real estate transactions, liens can linger long after a property is sold. New buyers and sellers at the table could have problems getting a clean title unless the debt is paid off. While circumstances will vary, real estate attorneys may be able to keep the transaction alive by locating the person or entity responsible for paying off the debt. If necessary, they mayhave legal license to force the responsible party to clear the balance owed. 

3. Transfer to Heirs

There may also be instances when a property owner bequeaths their home to an heir named in a will. After the owner’s death, the heirs may be hard to locate to turn over the property. If it’s multiple heirs, there could be a court battle to assert each person’s property rights. Meanwhile, the title transfer can be held up until the entire matter is sorted out. Real estate attorneys will typically do all they can to help locate heirs to the property and clear up the ownership dispute as expeditiously as possible.

When it comes to unraveling tangled real estate transactions, the office of Allen L. Lacey, Jr. Attorney at Law, specializes in cutting through the legal clutter. Based in Commerce, GA, the law firm has a team of experienced and professional attorneys who are 100% committed to resolving property disputes for their clients throughout Northeast Georgia. Should you ever need their expertise, call (706) 335-7886 to schedule a consultation. You can also go online for information about the law office’s areas of practice.