What You Need to Know About Real Estate Law Georgia
Speak with a trusted Real Estate lawyer in Cherokee County, Georgia.
Property and real estate legislation govern renters, landlords, and house owners (or prospective homeowners).
Several states, including Georgia, have “homestead” safety laws allowing property owners to preserve a small plot of land from creditors and adverse possession statutes enabling “continuous trespassers” to claim title to otherwise abandoned real estate.
Furthermore, Georgia law requires that rental security deposits be maintained in escrow and refunded within 30 days of lease cancellation.
A Responsive and Powerful Real Estate Attorney advises clients and assists them with Georgia property concerns such as purchasing and selling. They usually personalize their services to each client’s needs, whether the buyer, seller, lender, or realtor.
If a real estate transaction seems off, and you need someone to help you with real estate closings, disputes, and analyzing contracts and agreements, contact the Perigon Legal Services Firm at (404) 666-8622 for a free consultation on your case.
Fundamentals of Georgia Real Estate Law
If you need to bring a lawsuit to protect your real property rights, your ability to do so is restricted by the statute of limitations in your state.
A “statute of limitation” is the legal time restriction for filing a lawsuit. The length of time you have to file your action is determined by your state’s rules and the sort of case you are pursuing.
In Georgia, for example, the time limit for launching a lawsuit relating to any of the following is four years:
Georgia Real Estate Laws and Rules
- Amount of earnest money
- Closing date
- Seller-paid closing expenses
- Contingencies (such as finance or appraisal contingencies)
All real estate transactions in Georgia must be closed by a qualified real estate lawyer. In other states, the title firm handles the closing and escrow concerns. In Georgia, however, it is done by real estate attorneys.
In most cases, only one attorney is involved in the transaction, representing either the buyer’s lender (if the purchase is lender-financed) or the buyer himself (if it is a cash purchase).
If you need a real estate attorney to close your real estate transaction, call (404) 666-8622 for a free consultation.
Georgia Real Estate Law Questions
Georgia Real Estate License Law
Before purchasing or leasing real estate, federal law requires licensees to notify their real estate brokers in writing (G.R.E.C. Sub. Reg. 520-1-.11).
While the real estate brokers have no authority to accept or deny the licensee’s purchase or lease, the notice must be made in writing and before the licensee buys or leases property.
The core regulations of the Georgia Real Estate Commission stipulate that no Licensee may acquire or rent property in their name without first informing the broker for whom the licensee is engaged in writing.
Real Estate Transactions
After the closing, if any outstanding promises (or “covenants”) existed in the contract that was not completed or complied with, they’re not going to happen. The closing finalizes the real estate transaction.
In other words, “covenants” are enforceable only as long as the contract is in effect. Once the seller prepares and delivers the deed to the buyer, the contract is “consummated” and ceases to exist. It is said to “merge” with the terms of the warranty deed.
This implies that, unless your contract includes a “survival provision,” the seller is under no responsibility to perform everything promised in the contract that remains unfinished after the closing.
How a Real Estate Attorney Can Help You With a Real Estate Transaction
Georgia law prohibits a licensee from “accepting a commission or other valued payment, from anybody other than the broker holding that licensee’s license without the agreement of that broker.”
A Real Estate Dispute Attorney engaged in managing a deal will always accompany the buyer with valuable consideration to the closing. This is referred to as closing when the money is paid, and the title is transferred. The attorney’s role is to guarantee that the transfer is lawful, binding, and in the client’s best interests.
Georgia Real Estate Law Property Management
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6400 Powers Ferry Road NW Suite 386
Atlanta, Georgia 30339