Real Estate Law

Let our experienced team assist you in your home or commercial closings and refinances.  We offer full-service representation of Buyers, Sellers and Real Estate Developers.  Whether you are buying or selling new construction, a condominium, townhouse, or commercial property – large or small – we can assist you from contract negotiation to closing.  We are experienced in Land Use applications before Zoning and Planning Boards for all types of matters -from additions, pools and decks to subdivisions and use variances.  Our attorneys have appeared before Zoning and Planning Boards, have handled Superior Court litigation and appeals in Real Estate matters.

There are a variety of forms of ownership of property. The more common forms of ownership include:

  • Joint Tenancy: Property owned by two or more people at the same time in equal shares. Each joint tenant has an undivided right to possess the whole property and a proportionate right of equal ownership interest. When one joint tenant dies, his/her interest automatically vests in the surviving joint tenant(s) by operation of law. Not all the states allow this form of property ownership.
  • Tenancy in the Entirety: Some states have a special form of joint tenancy called “Tenancy in the Entirety”. This is when the joint tenants are husband and wife, with each owning one-half. Neither spouse can sell the property without the consent of t he other.
  • Sole Ownership: Property owned entirely by one person.
  • Tenants in Common: Property owned by two or more persons at the same time. The proportionate interests and right to possess and enjoy the property between the tenants in common do not have to be equal. Upon death, the decedent’s interest passes to his/her heirs named in the will who then become new tenants in common with the surviving tenants in common.
  • Community Property: Some states recognize community property, a special form of joint tenancy between husband and wife, each owning one-half. Upon death, the decedent’s interest passes in a manner similar to tenants in common.

A mortgage is an interest in land which provides security for the payment of a debt. Some states apply the common law rule that the conveyance of real property is void and is defeasible should the “owner” fail to make the payment. Many states recognize a mortgage as a mere lien (without conveying an interest in the land other than security or lien) and some states have adopted hybrid approaches.

The types of mortgages that are typically available to prospective homebuyers are:

  • Conventional: With a conventional mortgage, the lender obtains a lien or defeasible legal title to the property in return for the payment of the amount of money lent.
  • FHA Mortgage: An FHA mortgage is a conventional mortgage which is insured in whole or in part by the Federal Housing Authority.
  • Purchase Money Mortgage: A purchase money mortgage is one that is given to secure the loan which is used to buy the property. A first (senior) mortgage on the property has priority over any second or subsequent (junior) mortgages on the property.
  • Adjustable Rate Mortgage: An adjustable rate mortgage (often called an “ARM”) offers a fixed initial interest rate and a fixed initial monthly payment. After the initial period is over, the rate and term of the mortgage can be modified at predetermined times under the agreement to reflect the current market mortgage rates.

There are several other mortgage options, such as balloon mortgages, shared-equity mortgages, biweekly mortgages, reverse mortgages, and buy downs.

Real property is defined as land and the things permanently attached to the land. Things that are permanently attached to the land also can be referred to as improvements, include homes, garages, and buildings. Substances that are beneath the land (such as gas, oil, minerals) are also considered permanently attached.

When you purchase real property, you will receive a written document (called “the deed”) which transfers the ownership (title) of the property to you as the purchaser. The deed gives you formal title in exchange usually for a specified amount of money. The conveyance of real property is not complete until the deed is delivered to you or your authorized agent.

When you get the deed, you should record it with the county recorder in the county where the property is located. The purpose of recording the deed is to give “notice to the world” that you now have an ownership interest in that particular piece of real property.



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