law offices serving both
the Brainerd Lakes
& Little Falls Area
Why Do You Need a Lawyer for Real Estate in MN?
You probably feel like it’s your property and you can do with it as you please, so why do you need a lawyer for real estate in MN? The short answer to that question is this: it depends what you want to do with it. It is true that the property does belong to you and that instils you with a certain amount of freedom. But there are significant ways property can intersect the interests of local, state, and federal governments in a way that can be difficult to parse without legal help.
In fact, part of the reason you might want a lawyer is because you do have so much freedom. There are so many things you could potentially do with your property that it’s difficult for the layman to know all the rules, regulations, and laws associated with every option. Commercial real estate is different than rental properties and rental properties have different rules and regulations than personal homes.
Having an attorney to help you navigate around these legal conundrums can significantly improve your chances of financial, personal, and legal success.
Do You Need a Real Estate Attorney if You Are Renting Your Property?
One of the most common uses for a property is to let someone else use it—for a price. Rental properties—for either commercial or residential use—are among the most ubiquitous types of properties in the United States. If you own an extra property, it’s likely you’ve considered renting out that property to generate extra revenue.
But renting out your property carries with it risks:
- You may be liable if someone on your property is injured or harmed
- Tenants may be destructive to your property
- Tenants may fail to make agreed upon payments
- Tenants may claim that you are negligent in your duties as a landlord
- Tenants may claim that the property is unsafe or delinquent in some way
Many of these risks can be mitigated (or at least diminished) with a good contract. That’s why you’ll want an attorney by your side—writing a good real estate contract requires more than surfing the web and printing off a template. A contract that is customized to your needs and your risks will protect you more thoroughly.
Because these risks are ongoing, having an attorney that is familiar with your property can be vital to providing you with peace of mind and—should these risks develop—protect you and your investments.
Do You Need a Real Estate Attorney for Personal Property?
Let’s say it’s just you and the house. You only own one home, and you don’t plan on doing anything overly complicated with it. If your desires for your property are really that simple, do you really need a lawyer for real estate concerns? The answer to that depends largely on your short-term goals and your long-terms goals. Although, for the most part—for your day-to-day activities—you might okay getting along without an attorney.
When you really need an attorney present is when you want to do anything with your property. This can include:
- Selling your property
- Refinancing your property
- Renting your property (discussed above)
- Changing ownership of your property
There are, after all, many ways you can change the ownership of your property. There are procedures using wills and trusts that can leave property to a loved one on your passing. Or there are other methods, such as transfer-on-death deeds, that accomplish the same basic goal without going through probate. You may also wish to re-title your property at some point.
All of these methods listed above involve legal paperwork. Problems can arise when the legal processes aren’t carried out in full. If some of the legal paperwork is filed in error, for example, your wishes could be nullified. The best way to make sure your wishes are followed is to hire a real estate attorney to help guide you through the process.
Can’t I Just Take Care of My Real Estate Needs on My Own?
At Mallie Law Office, we’ve been serving northern Minnesota clients for years, so we know the well-earned reputation for rugged independence that persists up here. But the truth of the matter is that it’s often better to have some well-informed help up front to save you some trouble down the road.
There are two reasons why having an attorney help you with your real estate needs is a good practice:
- It can help prevent problems: Having a sound contract and legal advice can help prepare you for common issues that real estate owners encounter.
- It can help with unanticipated problems: Real estate can be unpredictable, which means there are certain issues that will develop that no one can see coming. Having an attorney on hand can help you cope with those problems when they arise.
Ultimately, the reason one engages a real estate attorney—whether in Little Falls, Brainerd, or elsewhere—is for protection. You want your property to be protected and you want your own livelihood to be protected. Real estate law can be complex, so that protection is often most effective when it comes from an attorney.
At Mallie Law Office, we want to help ensure that you can do what you want with your property. We’re here to help you do that in the right way—whether you want to rent or you’re interested in re-titling your property. At the end of the day, we want to help you make your property dreams come true.
Do you always need a lawyer for real estate in MN? It almost never hurts – a real estate attorney will use his or her knowledge to put you in the best position for a legal and speedy resolution.