We provide complete assistance in documentation for estate planning including wills, trusts, power of attorney and succession taking into account the key issues like taxes, insurance and other legal aspects of transferring wealth.
We can completely provide support in preparing estate planning kits with all the requisite forms and related documentation.
Real estate law is a broad area of work involving financing, buying, selling, developing and leasing property. The significant changes taking place in the real estate industry make it essential for every person performing any transaction to have a valuable insight into the competing interests and changing trends. This industry involves full spectrum of transactions which require ingenious solutions in a rational, productive, beneficial and business-oriented manner.
Property can be classified under two heads:
Real Property: Real Property refers to property permanently affixed to land such as trees and buildings. It includes anything above or below the surface of the land.
Personal Property: Personal property is different from real property such as a television set or a car, stocks, bonds and intellectual property rights.
Our Services
We provide legal services for a spectrum of property transactions. Our real estate clients include financial institutions, companies, regulated institutions, closely held businesses and real estate developers.
- Review and advice on the agreements within the purview of law on the basis of the instructions of the client.
- Prepare check lists and memos for taking requisite information from the clients.
- Create precedents for various agreements and edit them as per the instructions/requirements of both the parties.
- Drafting and completion of transaction documents such as lease and other property related documents, asset purchase agreements, sale and purchase agreements, financing documents, escrow agreements, documents relating to tenant evictions and other transfer documentation, mortgage documentation and prepare all necessary documents for completing the real estate transaction.
- Assist in drafting of the license agreements and lease agreements for commercial/retail property etc and other contracts.
- Prepare survivorship/transmission applications, applications to amend name of title, application to replace a lost/destroyed title.
- Prepare power of attorney.
- Research on the tax issues and other aspects of the sale of the property.
Ownership
of Property:
Ownership refers to the relationship between the
person and the property. It includes a bundle
of rights such as right to possession, right to
exclusive use and enjoyment, alienation and destruction.
There are different forms of ownership
in property.
- Fee simple refers to absolute ownership which includes the right to control, use, possess, or dispose of the property by sale, gift etc. In the event of death of the owner the rights in the property are inherited by the legal heirs.
- Tenancy in common refers to ownership of property
jointly held by two or more persons. In this
form of co-ownership each of the tenants has
a right to the entire property as such and therefore
the interest in the property can not be divided.
The tenant in common does not have a right of
survivorship. It is a form of co-ownership in
which two or more persons own undivided interests
in certain property. The interest is undivided
because each tenant has rights in the whole
property. In the event of a death of a tenant
in common dies his ownership rights are inherited
by his or her heirs.
- Joint tenancy refers to ownership of a property jointly
held by two or more parties. However, in this
form of ownership the tenant has the right to
survivorship i.e. in case of the death of one
of the tenant, the interest in the property
devolves upon the survivors.
- Life estate refers to interest in real property with a person during his lifetime i.e. right to possess, use, and benefit from the property during his life.
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