Real Estate Attorney Long Island NY, Markotsis & Lieberman P.C., Discusses 3 Common Real Estate Litigation Issues

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Nov 28, 2019, 05:00 ET

HICKSVILLE, N.Y., Nov. 28, 2019 /PRNewswire/ -- Whether one wishes to buy a home, purchase a condo, or acquire any other form of housing, it's important to be educated on related legal matters. Commercial real estate attorney Long Island NY, Markotsis & Lieberman P.C., discusses three common real estate litigation issues.

Real estate transactions are very complex and involve many different laws, policies, and rights, and therefore sometimes result in litigation issues. Despite how daunting these may seem, with the right legal navigation, real estate transactions will be seamless and benefit all parties involved. Here are three of the most common issues that lead to legal disputes in real estate.

The buyer is unable to complete the transaction. When a real estate transaction is underway, it's expected that the buyer will complete the transaction. However, the possibility that the buyer cannot close exists. This can be due to a number of reasons. For example, the individual may have experienced a sudden negative change in employment which detrimentally affects their financial stability, and now they can't afford a home of their own. Another possibility is that the buyer learned of a family emergency that will require their assistance and prevent them from completing their purchase. Regardless, a buyer being unable to complete the real estate transaction can lead to a legal dispute.
A dispute regarding the down payment. In general terms, a down payment is a sum of money that's initially paid at the time the contract is signed and is a deposit. If the buyer cannot complete the transaction, the Seller may be entitled to retain the down payment. If the Seller cannot complete the transaction, he may need to return the down payment. However, there may be reasons why either party may feel as if they are entitled to the down payment. This is another example of a legal dispute that may require the assistance of a real estate attorney.
Adverse possession claim. When an individual makes a claim on land that's owned by someone else, it is referred to as an adverse possession claim. This is not only applicable to vacant land. For example, the owner of a neighboring house may claim that they have possession of the land that's the basis of a real estate transaction. The individual making the adverse possession claim has certain elements they will need to prove in order to be successful on their claim. A real estate attorney can assist in making or defending such a claim.

If you find yourself in a position where one of these legal issues may arise, be sure to enlist the help of a trusted real estate attorney.

About Markotsis & Lieberman
Markotsis & Lieberman, P.C. is a general practice law firm. Practice areas include real estate, litigation (commercial and civil), business formations, agreements and transactions, and wills, trusts and estates. Our team of seasoned attorneys are here to guide you through every step of the legal process providing personalized attention to every client. When you're facing a complicated legal situation, our team of legal experts is there to fight for your rights.

SOURCE Markotsis & Lieberman