Explained: Significance of Attorney For Property Management

Buying a property, selling your real estate holding, bequeathing it in a will or transferring it through a gift deed, or even getting an inherited property registered in your name can be a complicated process if you are not clear about the legal nitty-gritty of property management. In some cases, there are nuanced legislations that most property buyers are not aware of. Furthermore, understanding the protections endowed by the RERA Act and taking appropriate steps to leverage these can also be difficult. Homebuyers and real estate investors must have a trusted lawyer or attorney for property management.

But what are the factors to consider when finding such a legal expert? Here are some tips.

• Real estate expertise – 

The legal system concerns itself with a variety of subject matters. This is why most lawyers specialise in some aspect of the law. Some work with corporate law, some with criminal issues, others with taxation, yet others specialise in different areas of the law. It would be best to look for a legal expert specialising in real estate management. Experienced real estate lawyers can help you navigate the complicated terms of a property contract or help you understand legal terminology that pertains to your responsibilities as a property buyer or seller. Apart from hiring an attorney for property management, if you are looking at your rights as a coparcener or inheritance rights, you must select a lawyer specialising in wills, trusts, and inheritance.

• Experience and track record – 

Real estate matters, particularly inheritance, can require a lot of legal manoeuvring and a thorough understanding of prevalent practices. Apart from expertise, experience is a crucial factor to consider. You may want to look up the attorney's track record in settling disputes similar to yours or defending the rights of real estate buyers or sellers. Lawyers are not permitted to solicit clients online or through the media, but several online fora allow clients to post honest reviews of their experience with a particular lawyer. This is an excellent place to get started.

• Location – 

In India, property laws are the subject matter of the state and the central legislative systems. Some laws, such as the Indian Contract Act of 1972, the Transfer of Property Act of 1882, the Indian Stamp Act of 1899, and the Registration Act of 1908, are all central legislations. The RERA Act of 2016 too is a central law, but the implementation is at a state level. Similarly, several land revenue matters are subject to state laws. Property tax issues are dealt with at a municipal level. This makes it very important to select a lawyer who is local and well-versed with the state and local laws that apply to the property you are buying, selling, or transferring.

• Communication – 

Apart from subject matter expertise, communication is one of the most important traits of a good lawyer. The attorney must be accessible and capable of breaking down complex legal terms to you in simple, understandable language. Similarly, your lawyer may have to negotiate on your behalf or even appear in court in case of a legal dispute. This makes it very important for them to be a good communicator with a comfortable demeanour. Having face-to-face interaction with a real estate lawyer before you hire them is a good idea.

• Matching your need for resources – 

Picking the right attorney for property management will depend on your requirement for legal help. If you are mired in a complex dispute or a legal issue that requires finesse and additional resources, or if you are located in a different city, you may want to sign up with a large legal firm that has offices in other parts of the country and can bring in a lot of resources to support you. If your needs are simple and you need support with standard contracts etc., you may want to go with a smaller firm or a lawyer with a standalone practice.

• Ethical approach and discretion – 

This is an important factor that most people fail to consider when hiring an attorney. A lawyer with a strictly ethical approach is professional and unlikely to exploit your needs or create more complications. They are focused on resolving issues using the simplest solutions in the least amount of time. Similarly, if you plan to bequeath your property in a will or gift it through a deed, you will want a discreet lawyer to support you in your decisions.

Before hiring a property lawyer, it is important to research and put together a few names. Meet them and settle on your attorney based on these factors. You must also consider your comfort and the fee before signing up.