In New York, a multitude of occurrences could lead to the need for the enforcement of real estate laws. These events could have a damaging effect on consumers and alter their lives dramatically. A Real Estate Litigation Lawyer Orange County NY helps these consumers reduce the impact of these common occurrences.
Fighting Creditors During Probate
The first step of probating a will is to settle all older debts that weren’t paid off during the estate owner’s life. However, when creditors file a claim against the estate, their claim could allow them to acquire properties to settle the debts. An attorney fights for the beneficiaries to prevent creditors from seizing property in which they are entitled.
Filing a Claim for a Refund of Down Payment
A common reason for a real estate transaction to fall through is an issue related to the title. This is why real estate attorneys conduct a title search. A title search provides them with all title transfers for the last twenty years. If any transfers weren’t performed correctly, more research is needed. The purpose of the search is to identify the rightful owner of the property for sale.
If the seller isn’t entitled to sell it, the transaction stops completely. However, this could leave the buyer without a refund of the money they used as a down payment. An attorney helps these buyers recover their lost funds.
Avoiding the Foreclosure Process
A real estate attorney could stop the foreclosure process. The first step is to evaluate the mortgage loan documentation. If the attorney identifies any predatory lending practices, the lender must modify the loan to reflect a change in these terms. This could involve changes that equate to smaller payments and the elimination of the total delinquent value. Once the loan is modified, the lender won’t continue with the foreclosure process.
In New York, consumers face challenges related to real estate. These challenges may relate to properties that were inherited in which there is a conflict with a creditor. The foreclosure process could also apply to these circumstances. Consumers who need help from a Real Estate Litigation Lawyer Orange County NY should contact Mark Aberasturi for more information today.