Real Estate Transactions
Hudson Potts and Bernstein’s real estate attorneys are experienced in handling all aspects of real estate transactions, from buy-sell agreements and leases to title opinions and closings.
When you buy or sell real property, there’s a lot that goes into it. At closing, there is so much to review and you want to make sure that your interests are protected. A real estate lawyer will review all the paperwork. If there are any omissions or problems with the paperwork, he or she will discuss it with you to determine the best course of action.
Whether you are buying or selling residential property or commercial property, you need solid legal representation, and the lawyers at Hudson, Potts, and Bernstein can provide it. We’ll keep your best interest as our priority so that the transaction goes smoothly and goes your way.
Governing Bodies of Real Estate Transactions
Real estate transactions are subject to federal statutes as well as state laws. In the United States, each is responsible for its own laws and regulations. The primary Federal statute is The Federal Fair Housing Act which makes it illegal to discriminate against a person during a real estate transaction because of their religion, race, national origin, color, or sex.
The statute essentially levels the playing field so that anyone has the legal opportunity to buy or sell property without fearing that they will be discriminated against. It works with state laws as well to make the entire process fair
Louisiana Homestead Laws
The state of Louisiana has homestead laws in place to protect residents who have fallen on hard times. Often during a bankruptcy, the person’s property is at risk. Creditors can attach liens to the property and it can even be seized.
Homestead laws offer some degree of protection against that.
Louisiana homestead laws allow the property owner to set aside a certain portion of their land or home and it is protected from certain types of creditors. They cannot seize it or put a lien on it. The property remains in the possession of the homeowner.
There are several exceptions though. A pre-existing lien on the property that was placed prior to the homestead being established can override the homestead protection. If the property was used for a mortgage, the owner owes past-due state taxes, or if the owner owes money to someone who performed work to improve or repair the property such as a builder, contractor, or mechanic, then it is not valid.
Louisiana Adverse Possession Laws
This is an old law but it is still on the books. Essentially, a person can gain a right of pass-through or ownership if they trespass continually and improve the property for a prescribed amount of time.
Typically, they must occupy the land for 10 years.
However, in order for this to be valid, four criteria must be met.
The trespassing cannot be covert or secret. It must be open.
Real estate transactions and real estate law can be complex. It takes an experienced, knowledgeable attorney to make sure that your interests are protected. At Hudson, Potts, and Bernstein, that’s our promise to you. Give us a call today and find out how we can help you.