Experienced Indiana Real Estate Attorneys
Are you currently looking to purchase Indiana Real Estate? If so, please contact one of our experienced Indiana real estate attorneys today!
In order to pass the title of a property, a deed with a proper description of the land must be executed and delivered. This is where you need an Indiana Real Estate Lawyer. The federal and state government govern real estate transactions by having passed statutes and common laws to regulate how titles pass from owner to owner. A real estate lawyer can help you with the day-to-day specifics of ownership transaction and other aspects and concerns of real estate.
There are many different areas and aspects of real estate that Indiana Real Estate Lawyers handle including:
- Agricultural Law
- Buy/Sell a Home
- Commercial Real Estate
- Mortgage Matters
Experienced Real Estate Law Advocate
Alcorn Sage Schwartz & Magrath in Madison, Indiana, provides comprehensive legal representation for individuals and commercial clients in all forms of real estate matters. We have complex litigation experience and possess extensive real estate law knowledge. We understand the issues you may be facing, because we have handled numerous real estate cases.
Real Estate / Real Estate Finance
Alcorn Sage Schwartz & Magrath is well equipped and experienced to handle a great majority of our clients’ commercial and residential real estate needs. Our clients include individuals, contractors, investors and developers, property management companies and state and local government units that require assistance in all types of transactions in the development process.
Buying A Home
Buying a home is a big step in everyone’s life, and for many people, obtaining a mortgage loan in order to buy a home is the most significant debt they will ever take on. The purchase of a home is not a simple process, but involves a series of complex steps that trigger the application of a variety of different state and federal laws and regulations. Additionally, the sale of a home affects the legal obligations and rights of both buyer and seller in a number of ways. Therefore, it is essential that all prospective homeowners be aware of their legal rights, responsibilities, and obligations prior to becoming homeowners.
As an applicant for a mortgage loan, you also have certain legal rights under federal law known as the Real Estate Settlement Procedures Act (RESPA). When you apply for a mortgage loan, the lender must give you certain information, including a Good Faith Estimate as to the settlement charges you will face if your loan is approved, and a Mortgage Servicing Disclosure Statement, which addresses the transfer of your loan to another financial institution, as well as the procedures for making a complaint.
Once you have decided to make a written offer on a home, it is wise to hire a certified home inspector in order to examine the home for any major defects.
Obligations of the seller to disclose defects
In any real estate transaction, the seller is usually required to fill out certain disclosure forms in order to make the buyer aware of major defects.
Title Insurance and taking to your home
It is standard procedure to obtain title insurance when purchasing a home. A title insurance company will examine the historical title and ownership of the property, and attempt to identify any problems that could adversely affect you taking title of the property. Plus, title insurance protects you in the event that another claim of ownership is made to the property, and/or if you have to defend your title to the property in court.
The Closing Process
In order to finalize the purchase of a home, the buyers and sellers must participate in a closing, at which all legal and required documents are signed, and title of the property is formally transferred from the sellers to the buyers.
Responsibilities of Homeownership
Following settlement of your mortgage loan, your lender will send you an Annual Escrow Statement, which contains an itemized listing of all payments and deposits made on your escrow account over the last year. If you took out a mortgage loan in order to purchase your home, your financing agreement with your lender will require you to maintain homeowner’s insurance on your home at all times. In many cases, your insurance payment will be a part of your mortgage payment, as it is paid by your lender thorough your escrow account. Letting your homeowner’s insurance policy lapse may constitute a default on your financing agreement, which may cause you to ultimately lose your home.
Alcorn Sage Schwartz & Magrath real estate attorneys put to use all of the tools in today’s regulated business environment to creatively pursue our clients’ goals. We represent developers, landlords, financial institutions, and others who regularly engage in real estate transactions, as well as clients who only occasionally need our services to lease, construct, buy or sell real estate. We work to bring transactions to closing as quickly as possible, while counseling our clients throughout the often complex processes and procedures of real estate transactions or disputes.
Zoning and Land Use
Alcorn Sage Schwartz & Magrath works closely with real estate developers to obtain necessary zoning and other regulatory and utility approvals. When necessary, we consult with attorneys in other Indiana counties on state zoning and subdivision statutes.
Alcorn Sage Schwartz & Magrath works with our clients in acquisition, financing, management and disposition of commercial real estate, providing a full range of counseling and legal services to a diverse mix of clients, including business owners, developers and investors. We help structure property sales and acquisitions to meet the needs and minimize the tax consequences of commercial real estate transactions.
We represent individuals in all types of residential real estate transactions including acting as closing agents for lenders and clients.
Where do I learn more real estate in Indiana?
Indiana Real Estate Commission – www.in.gov/pla/real.htm
Call Alcorn Sage Schwartz & Magrath at 800-330-8765 for a free consultation.