Property disputes are common, whether they come from homeowners, tenants or commercial real estate transactions. Complex legal battles are generally the result of disagreements over property boundaries, ownership and other property-related concerns.
If you know the common type of disputes, you can do your best to avoid them. Here are four arguments you often hear concerning property disputes.
1. Breach of contract
Contracts determine the specifics of a transaction whenever leasing, selling or purchasing real estate. Each party has an obligation outlined in the contract. If one party does not meet their responsibility, a breach of contract lawsuit allows the other to seek damages.
2. Boundary disputes
These disputes arise when neighbors have different opinions on the location of the property line. In some cases, official boundaries never made it to the county register. Some homeowners may challenge the placement of a fence, outbuilding or other construction on account of its location to the property line.
3. Co-ownership
When more than one person owns a property, issues with financial responsibilities, maintenance and expenses often create problems. A co-owner who spends more than the other to maintain the property could pursue compensation in court, including a property lien if the real estate changes hands.
4. Real estate fraud
Real estate contracts are subject to state laws concerning disclosure, but there are some sellers who intentionally misrepresent their property. When the other party suffers injury or loss stemming from a lack of knowledge of the state of the property, the court views this as real estate fraud.
Property law is complex, making it hard to settle boundaries or other disputes on your own. Strong contracts, attention to detail and clear records can help you avoid these concerns.
