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::: REAL ESTATE :::

 

     

 
  • Counselling on real estate transactions
  • Drafting of lease contracts, sale, building and relating assistance

Legal Advisor role of our law firm in Italy (Milan, Bologna, Padova) in the typical transaction is as follows. A client advised by a lawyer shall never forget the significant role played by property matters, which can interfere with a dispute managed by his attorney. Namely, enforcement of judgment suggests the extreme importance of a legal advise on property rights. Property signifies dominion or right of use, control, and disposition, which one may lawfully exercise over things, objects, or land.  One of the basic dividing lines between property, in Anglo-Saxon legal systems, is that between real property and personal property.  Generally, the term real property refers to land.  Land, in its general usage, includes not only the face of the earth but also everything of a permanent nature over or under it.  This includes structures and minerals.

There are further divisions within the estate and real property classification.  The most important are freehold estates, non-freehold estates, and concurrent estates. (Others are future interests, specialty estates, and incorporated estate and real interests).  Freehold estates are those in which an individual has ownership for an indefinite period of time.  An example of a freehold estate is the "fee simple absolute", which is inheritable and lasts as long as the individual and his heirs want to keep it. 

 

 

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 Another example is the "life estate", in which the individual retains possession of the land for the duration of his or her life. Non-freehold estates are property interests of limited duration.  They include tenancy for years, tenancy at will, and tenancy at sufferance.  Concurrent estates exist when property is owned or possessed by two or more individuals simultaneously.

On other side, a wide body of national statutes worldwide governs real estate transactions  . The counselling on requirements established by state law often differs significantly from one state to the next. We have a lot of contracts and juridical roles. The contract between the broker and seller is called a listing agreement. The agreement may be an open agreement where by the broker earns a commission only if he or she finds a buyer. A listing is exclusive if the broker is the only agent entitled to a commission for finding a buyer. Under an exclusive arrangement a broker may be entitled to a payment even if the seller finds the buyer without the brokers aid. Estate brokers and salesperson are licensed and regulated by different national state laws.

The agreement to sell between a buyer and seller of real estate is governed by the general principles of contract law in every state. It is commonly required in estate contracts that the title to the property sold be marketable. This requires that the seller have proof of title to all the property he or she is selling and that third parties not have undisclosed interests in the title. A title insurance company or an attorney is often employed by the buyer to investigate whether the title is, indeed, marketable. Title insurance companies also insure the buyer against losses caused by the title being invalid. In order to pass title, a deed with a proper description of the land must be executed and delivered. Some states require that the deed be officially recorded to establish ownership of the property and/or provide notice of its transfer to subsequent purchasers.  The most common method of financing real estate transactions is through a mortgage.

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