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4 Tips From Property Dispute Lawyers To Avoid Fami...

As much as the property is deemed to be a valuable asset that everyone is seen aspiring and vying for, its also often the root cause of conflicting circumstances that arise amongst family members. People are seen battling with their kith and kin over even petty, not to mention far more crucial issues that arise as a result of faulty or flawed inheritance or marriage falling apart. It's a global phenomenon that finds professionals like property dispute lawyers or property lawyers in India and elsewhere swamped in their respective domain. As they say, prevention is better than cure; in this case, too, real estate disputes can be nipped in the bud or even averted without having to engage a real estate dispute lawyer and all it takes is a bit of planning and foresight. The below-mentioned tips are essentially suggestions or pieces of advice from property lawyers.     1.      Carefully Select The Executor of The WillThe vast majority of litigations arise between kith and kin or relations owing to inheritance. Experts are of the opinion that in most cases it's not as much about the will that is the root cause of the problem, rather, it's more about the way of execution of the will that may have led to the conflict in the first place. The vast majority of property owners commit the flaw or mistake of handpicking and designating an executor solely based on the fact that the person may be a prospective inheritor without any prior assessment of whether or not the chosen person fulfills the eligibility criteria of an executor of the will. While designating a designated executor, ideally, a neutral person who does not have an ax to grind from the will as such or can stake their claim; essentially a person who would be unbiased or neutral. An honest, diligent and hardworking person with integrity who would execute his or her assigned duties and responsibilities efficiently and be able to instill confidence amongst inheritors.   2.      Carefully Select A Co-ownerPurchasing pieces of properties jointly with relatives is quite common and the reasons for such investments are usually because of tax rebates. Property lawyers in India and elsewhere are of the opinion that inheritance is the root cause of dissension amongst family members. People ought to proceed with extreme caution while making the decision of buying or owning property jointly. Contentions may arise beyond the asset's ownership rights but over the associated liabilities as well including property tax and utility bills. Anyone desirous of co-owning property with members of the family ought to cautiously and carefully select the partner and clarify all matters pertaining to shouldering of responsibilities at the outset. 3.      A No-contest Clause to be included in the WillAs already mentioned, an inheritance that isn’t well chalked-out is, in fact, the root cause of the vast majority of once closely-knit families disintegrating; siblings in particular. A well-documented will with a detailed explanation of the asset distribution amongst their siblings or next-of-kin along with the inclusion of a no-contest clause as suggested by some property dispute lawyers. The real reason or purpose for the inclusion of the no-contest clause is to ensure that inheritors are discouraged to the point that they would not be disputing the will’s contents as doing so would put them at risk of losing what the owner had allotted to them. Although this isn’t absolutely a flawless measure, it undoubtedly is a deterrent for those inheritors contesting the will. Property lawyers ought to advise their clients properly regarding the relevant laws of the jurisdiction of their residence. 4. Avoiding Disputes Related to Divorce Through a Prenuptial Agreement Siblings alone do not necessarily quarrel over property-related assets. Couples who are divorced or estranged are involved as well in a huge number of property wrangles. Both parties jointly owning an asset could be the root cause of legal wrangle over who keeps what when its splitsville for both parties. As a preventive measure, a prenuptial agreement prior to the marriage being solemnized is a step in the right direction towards avoiding problems related to asset distribution. There could be an agreement amongst parties as to the distribution of valuable assets owned singly or jointly by them should they get divorced. Must Read: PRE-NUPTIAL AGREEMENT IN INDIAConclusionReal estate owners must plan for all eventualities whether framing a will for their near and dear ones or making an investment with another family member. They must engage property dispute lawyers to get valuable advice which can help them avoid such troubles.

Posted By

Avik Chakravorty

3 weeks ago

How to select from amongst the best property lawye...

Introduction Purchasing property is the latest fad and indeed the preferred investment tool if one is looking to park one’s money. Real estate sells like hot cake these days and people are buying into the idea of investing in real estate as the returns are extremely lucrative and therefore feasible. Numerous reforms to the real estate laws over the years necessitate consulting a property lawyer. These resourceful lawyers know the ins and outs of making property papers accessible to their clients and also provide clarity on what the papers might be representing. The legal parlance is not a layman’s parlance and therefore its all gobbledygook for the layman and as a result, a property lawyer ought to be consulted for the right advice and execute the entire procedure of purchasing a property seamlessly. Property verification lawyers aren’t necessarily required while purchasing a property only. They are equally in demand while renting and transfer resale and similar property-related deals. When is the right time for approaching a property lawyer? What is the Requirement? While planning on purchasing any type of property; whether constructed, semi-constructed or land, registration of the property is essential. Few documents need to be verified so that the registration process can be carried out seamlessly. A property lawyer would scrutinize all the documents and proofs and only then would permit its client to sign. Purchasing the property The options for a client while purchasing a property are purchasing against total payment or in installments or the client could avail bank loans. As the mode of payment is agreed upon by both parties all supporting documents of the client ought to be scrutinized and verified by the property lawyer. The timescale for the frequency of loan installment payment distribution and the last installment payment date ought to be clearly mentioned and discussed between all those who are involved. The bank details and other formalities ensuring approval of the loan needs to be fully accessible to a property lawyer so that the process comes to fruition seamlessly. The best property lawyer may provide advice on the best loan terms and condition ensuring the client gets the best deal. A lawyer is the mouthpiece of their client and always represents clients in all legal matters and hopes clients get the best deal possible. Property Sale The sale of the property can be a great deal of hassle particularly if the property lawyer has not meticulously collated and compiled the papers and documents belonging to the client. The purchaser may require any document on demand, and if the seller is unable to provide the required document however inconsequential it may seem, the buyer may assume that the seller is a fraud.   Property on rental If the property is rented out or is a rental property, in both cases it is necessary to heed the advice of a property advocates. They can prepare a strong case for their clients who may want to put their property on rent as well for clients who intend to remain in rent for a refund of the deposit money and the rent itself yet to be paid.  There are instances of the client not receiving the deposit money in a timely fashion or may be asked to leave prior to the completion of the probationary period. Conversely, the tenant too can be a nuisance for the renter, and there’s nothing that the renter can do about it. Consult a property lawyer about the rights of both the renter and the tenant would be protected through [Vidhikarya.com]. Transferring the property Transferring property to children or spouse or to someone else, without any monetary consideration is typical in a hierarchical family. At-will transfer of property is a tedious and complex process but eventually it may come to fruition. New papers may need to be created along with court filing and registration. 

Posted By

Avik Chakravorty

1 month ago

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