Over the time, we have seen NRIs struggle with various property disputes such as illegal occupancy, transfer of assets, inherited and gifted assets, and much more. They face issues related to ownership or some other related matter such as registry details, the status of the title, etc. and then they seek legal advice to find the best suitable solutions.
What they are not conscious of is that these matters are part of the management of property and they should take help of Property Management Lawyers. Asset management includes operation, administration, and control of residential, industrial and commercial real estate along with maintaining updated documents and knowing the history of the concerned property ownership.
It’s the duty of the Property Management Lawyers to look after all the aspects related to Property Management. It is imperative to understand what a property legal representative can do and what are his responsibilities towards his client.
Services provided by Property Management Lawyers
In the case of Renting of the property:
- Advertises about the asset for tenancy and then show it to the prospective tenant.
- Handle the lease, collect and adjust the rent as the estate market
- Deals with the complaints of the tenants
- Deals with the eviction of the renters
- Maintain and make repairs to the estate and keep it in proper shape even after leasing it
- Make it sure that property is with compliance of government rules and regulations
- Serves as a liaison between tenants, site personnel, and landlords
In the case of buying a property or inheritance or gifted assets:
- Make sure to help trace the previous and current ownership records
- Assist in finding the details of land registry that may be lost or not properly maintained
- Help in transfer of the deed in your name by helping in getting the clear title deed and all the updated documents from the current or the previous property owner
- Contribute in interpreting the documents in understandable language or English.
- Validate the accuracy of the record by making a formal request under Right to Information Act (RTI)
- Assist in finding and identifying the property using the old address if the address has been changed.
Role and Responsibilities of Property Management Lawyers
The Role and Responsibilities of the Lawyer are to –
- Give legal advice on all the aspects of property management such as market value of the property, tax benefits, restrictions laid by the government, etc.
- Specify all the terms and conditions of the sale as well as in purchase deed clearly and as per the law related to contract and agreement.
- Deal with the matters relating to title deed, tenants, eviction.
- Make the transactions related to the property.
- Solve the issues with the deed and any property dispute.
- Resolve the problem of trespass, encroachment, injuries, and boundaries.
- Help in preparing and evaluating the draft deeds, other documents and then filing them.
- Register all the documents with the proper authority and check if any adjustment is required.
- Help the clients with title deed problems, insurance, and environmental issues.
- Make sure that the inspections and appraisals are done on time.
- Evaluate the purchase agreements and leases.
- Review all the transactions done by the client.
- Represent his client in the court when required.
- Participate in the hearings and the trials.
- File appeal if necessary.
- Negotiate and bargain or make settlements on behalf of his client.