Real Estate Transactions Attorneys In Longmont Colorado
Real estate ownership is an important source of enduring wealth. Ownership can be individual, as with a family home. Ownership can involve one or more investors which requires a choice of the type entity owning the real estate and who controls the entity. The entity can take the form of a limited liability company, a corporation, a partnership, or a trust. Documenting the relationship between owners requires familiarity with entity formation and careful preparation of the agreement governing the relationship between the investors. Members of an LLC need an operating agreement. Shareholders in a closely held corporation need a shareholder agreement. The same is true for partnership agreements and trusts. In the absence of a written agreement between the investors, disputes often rest on “she said/he said.”
Do You Need A Real Estate Transactions Attorney?
Real estate ownership is an important source of investment and retirement income. Whether residential, apartment, retail, or commercial, a landlord needs a carefully drawn lease to protect its property and ensure payment of rent. Agricultural land is another example requiring familiarity with crop leases and governmental subsidies.
Real estate purchases and sales involve several legal disciplines. An attorney should review proposed contracts before the contracts are signed. The terms of the contract helps to direct the future use and profitability of the property. Property acquisition requires knowledge of such things as how to read title commitments and assess the need for endorsements to the title policy; how to assess the importance of recorded instruments like easements and oil and gas leases; and how to read surveys. The earlier an attorney is brought into the process, the better.
Property use is typically governed by local land use and zoning laws. Mistaken assumptions about how property can be used often lead to unintended consequences. Prior legal review of these laws avoids problems and may help in working a solution with local authorities.
Mr. Marsh has extensive experience in the transactional components of ownership, leasing, use, and development of real estate. He has represented owners and investors, buyers and sellers, landlords and tenants, developers and contractors, title companies and real estate brokers. His experience over time has resulted in a tranche of legal forms for use and adaptation in the many types of real estate transactions.
Mr. Marsh has been a frequent presenter on Colorado commercial and residential landlord/tenant law.