who is a real estate lawyer that could review a lease agreement?

Full Answer

Do all real estate contracts have an attorney review clause?

The reader is cautioned that not all real estate contracts contain an attorney review clause. It only applies to residential contracts prepared by Realtors. If the contract contains an attorney review clause, it must be stated at the top of the first page of the contract in bold face.

Do you need a lawyer to review a preprinted lease?

In fact, a preprinted form should be reviewed very carefully, because its provisions will probably greatly favor the landlord. You may want to ask a landlord-tenant attorney to review the lease agreement with you before you sign it. An experienced lawyer who practices in this area will be able to: Suggest changes and additional terms.

Who is responsible for the attorney's fees in a lease?

It depends on what the lease says. Most standard-form leases make the tenant responsible for paying all attorney's fees incurred by the landlord in enforcing the provisions of the lease.

Do I need a lawyer to sign a lease agreement?

You may want to ask a landlord-tenant attorney to review the lease agreement with you before you sign it. An experienced lawyer who practices in this area will be able to: Suggest changes and additional terms.

What should be clearly described in a lease?

If a party to the lease will be doing any work to the premises, the scope of work should be clearly described to reduce the chance of a misunderstanding. Oftentimes, the work of the parties is described in exhibits attached to the lease. Carefully review any such exhibits and watch out for provisions in the exhibits that conflict with provisions in the body of the lease.

What to consider when leasing industrial property?

With respect to industrial property, consider specifically addressing driveway access, truck parking, and the number and type of loading doors.

Why is a gross lease considered risky?

As a result, gross leases are viewed as being riskier to the landlord because the landlord must absorb any unexpected increases in such costs. Consequently, tenants typically prefer a gross lease.

How long do you have to decide to accept an expansion offer?

Typically, you must decide, within some set period (e. g., a week), if you wish to accept the offer. If you pass (or if you are deemed to have passed based on your silence), the landlord is entitled to lease the expansion premises on the same terms and conditions to others.

How to deal with landlords who are willing to provide expansion space?

If the landlord is willing to provide either of these, try and work out as many of the terms and conditions as possible upfront . Consider describing, at a minimum, when the right can be exercised, how much time you will have to exercise the right or to respond to an offer, and the amount of rent for the new expansion space.

What to do if landlord refuses to give termination?

If the landlord refuses to grant an early termination right, consider requesting a shorter initial term along with one or more options to extend the term. In this way, after the initial term expires, you have the flexibility to decide whether you wish to stay or leave at that time. Assignment and Subletting.

Do you need to measure the square footage of a building before signing a lease?

Make sure that the premises are accurately described in the lease and that the square footage and any key amenities are clearly referenced. It is advisable to measure the space (or have someone do so on your behalf) before signing the lease to avoid surprises, and, if appropriate, to adjust the rent.

What does a real estate attorney do?

A real estate attorney prepares or reviews all of the documents that are signed at the closing of a real estate purchase. The attorney is then present at the closing to represent the buyer's (or the seller's) interests. Real estate law is a matter for state and local jurisdictions.

What does a lawyer do in real estate?

Lawyers who specialize in real estate ensure that proper procedures are followed during the acquisition or sale of property. They also may be concerned with how a property is zoned for usage. Real estate law covers deeds, property taxes, estate planning, zoning, and titles.

What is closing on a property?

Closing is when the money is paid and the title is transferred. The attorney is there to ensure the transfer is legal, binding, and in the best interests of the client. During the purchase of a property, the real estate attorney and staff might prepare documents, write title insurance policies, complete title searches on the property, ...

What is real estate law?

Real estate law encompasses the purchase and sale of real property, meaning land and any structures on it. It also covers legal issues related to anything attached to the property or structures, such as appliances and fixtures.

How long does it take to become a real estate lawyer?

Qualifications. Like any lawyer, a real estate lawyer has earned a law degree, which typically takes three years of study for a full-time student. They have also passed the state bar exam administered by the state in which they practice. Training for real estate law may begin with elective courses and internships during law school, ...

Which states do not require real estate lawyers?

Four states—Illinois, New Jersey, New York, and Ohio— do not require real estate lawyers, however they are typically involved in transactions according to local custom and practice. 1. If you don't live in one of these states, it's up to you whether you want to hire an attorney.

Do you need a real estate attorney at closing?

Many states require a real estate attorney be present at closing. Even if your state does not require one, you might want a real estate attorney to be there for you. A real estate attorney will represent your interests at closing. They will review all paperwork in advance and advise on any problems or omissions with the documentation. 1.

Why is it important to have an attorney review a contract?

If is for this reason it is important for each party to have an attorney to review the contract to make sure that the party’s legal rights are protected and to advise them of their duties and obligations. Once the contract is finalized, the buyer and seller are bound by its terms and may later regret if they did not understand all ...

Where is the attorney review clause on a contract?

If the contract contains an attorney review clause, it must be stated at the top of the first page of the contract in bold face. If the contract does not contain an attorney review clause, the buyer and seller should not sign the contract until it is first reviewed by their attorney. Once a contract is signed it is binding upon the party.

How long does it take for a realtor to review a contract?

The attorney review clause allows Realtors to prepare residential real estate contracts and allows the buyer and seller to sign the contract, but allow each party the right to have an attorney review the contract within three business days after it is signed, and to disapprove the contract or to make changes to it.

What is the most important document in real estate?

Almost all real estate transactions begin with the signing of a real estate contract. This document is the most important document in the entire transaction. The contract sets forth the rights and obligations of the buyer and the seller. The contract sets forth what I call the essential terms of the contract, as well as the other terms. The essential terms are the identity of the buyer and seller, as well as the purchase price, closing date, the type of deed the seller must provide and what appliances and fixtures are included in the sale. The other terms include the rights of the buyer to perform inspections, the seller’s obligation to make repairs, the quality of title the seller must provide, as well as the many other terms that define how the transaction must proceed.

Who is best served by retaining an attorney to represent each of their interests in reviewing and signing a real estate contract?

In all cases, a buyer and seller will be best served by retaining an attorney to represent each of their interests in reviewing and signing a real estate contract.

Does New Jersey have a common law contract?

New Jersey law requires that all contracts be drafted in “plain language” and for the most part they are. However, there are concepts in real estate transactions which come to us from English common law and practices dating back many centuries. The average lay person may be hard pressed to understand some of those concepts. On the other hand, attorneys are trained in this area and they are better able to advise their clients as to the subtle nuances of real estate law.

Is a realtor contract a standard contract in New Jersey?

The fact that the Realtor-prepared contract is a “standard” contract is misleading. There is no “standard” contract form in New Jersey and each Realtor may have their own form with terms that differ from other Realtors.

What can a real estate attorney do?

Real estate attorneys can check title, explain any covenants running with the land, and make sure all parties to a real estate transaction obey relevant laws. Also, landlords and tenants may need legal advice from time to time. This section provides information on what to look for when hiring a real estate attorney and when you may need one, ...

Why do landlords need attorneys?

In fact, attorneys can help landlords avoid headaches in the future by helping to create standard lease agreements for all tenants before renting even begins. Lawyers also can help attorneys set up a small business to act as a shield against personally liability.

What type of fees do lawyers use?

This section explains the different types of fee arrangements, including contingency fees, flat fees, retainer fees, and more.

What to do if a real estate dispute ends up in court?

If your real estate dispute ends up in court, your attorney will need to know a lot about the problem, the resulting expenditures or losses, and your relationship with the opponent. This intake form will help you organize that information.

What to do when a dispute over a real estate transaction occurs?

When a dispute over a real estate transaction occurs, your attorney will need to review all of the documentation involved in the matter. This checklist will help you organize your documents before meeting with your lawyer.

What is a purchase agreement?

Legal Assistance with the Purchase Agreement. In real estate terms, the purchase agreement is the formal written contract for the sale. Entering into a contract obligates its signers to certain fiduciary and legal obligations, so you really want to make sure you understand what you're signing. For example, you may be presented with ...

What is a landlord tenant attorney?

A landlord/tenant attorney can help you analyze your situation, determine what your rights are, and make a well-informed decision about how to protect your interests. We've created a list of trusted landlord/tenant attorneys to help you find a lawyer who is the best fit for your situation.

What are tangential issues for landlords?

Addressing tangential issues for landlords, including business law and estate planning-related issues such as business succession planning, and protection of rental property assets in a divorce or other family law matter.

How long does Rocket Lawyer take to get a real estate attorney?

Get expert real estate advice from Rocket Lawyer network attorneys by phone or email within 1 business day.

What is Rocket Lawyer?

As a Rocket Lawyer member, you’ll get instant access to all the legal documents you need to manage your property. Each document is easily customized, then securely stored online where you can come back anytime to view, edit, print, share and export. You can also use your membership to connect with a Rocket Lawyer network attorney to get fast legal answers, have them review your document, or hire them for up to 40% off their published rate. Lastly, your membership includes RocketSign ®, a full-featured electronic signature service so you and your tenants can sign Rental Applications, Lease Agreements and more—at home or on the go.

Can you cancel Rocket Lawyer?

Yes. You can deactivate your Rocket Lawyer membership during your free trial or at any time thereafter.

Can you use Rocket Lawyer documents?

Yes. Rocket Lawyer documents are vetted by lawyers and legal staff so you can use them with confidence.

Who pays attorney fees on a lease?

It depends on what the lease says. Most standard-form leases make the tenant responsible for paying all attorney's fees incurred by the landlord in enforcing the provisions of the lease. But some state or local laws restrict that provision to situations where the landlord wins a lawsuit and the court awards fees; if the tenant wins, the landlord pays the fees.

What is the duty of a tenant in a lease?

From the tenant’s standpoint, the lease should state the duty of the landlord to maintain the physical condition of the premises. Other clauses should state the right of the tenant to terminate the lease if the landlord fails to make needed repairs. Where the law allows it, the tenant should have a clause specifying the right to hire workers ...

What is the most important clause in a lease?

The most important clause to landlords is the duty of the tenant to pay the rent in full and on time. This includes the right to charge a fee for damages if payment is late. Other important clauses grant the landlord the right to enforce the rules and regulations written into the lease.

Why is it appropriate to require landlords to enforce their own rules?

Some courts have held that the landlord has the duty to keep tenants from annoying others where the lease contains a clause requiring tenants not to disturb their neighbors. Because they control who may rent in the building , it is appropriate to require landlords to enforce their own rules.

What happens if a lease does not contain an exculpatory clause?

If the lease does not contain an exculpatory clause or if the state makes such a clause illegal, it will be up to a court to decide whether the injury resulted from some negligent act by the landlord.

How much notice does a landlord need to give for a lease?

A lease may require the landlord to give a 24-hour notice, but some leases do not require any prior notice or restrict the time or frequency of entry.

How many obligations does a tenant have to a condo?

A tenant who rents a condominium has two obligations, one to the condo unit's owner and one to the condo association.