Legal Information About the Real Estate Contract

The conclusion of final agreement between a seller and a buyer is the Agreement of Purchase and Sale. We know it as the real estate contract.

There are five mandatory requirements for a contract under contract law:

1. The name, address and contact data for the seller(s) and buyer(s).

2. A clear description of the property. We prefer the tax map and parcel number but a street address, or other clear description will do. Such as “parcel known as Hudson Farm, being 456 acres more or less fronting on west side of US Route One and County Rd. 264, being about 9 miles north of Rehoboth in Sussex County Delaware. The final description on the deed at settlement will contain the Book and Page number where it was purchased, a survey description and tax map ID. For the contract any clear description that could ONLY be the property being sold is sufficient. This can be the Tax I.D. number.

3. The price and terms of payment. For instance: cash at settlement in thirty days from the date of this contract. Here should also be noted the deposit or consideration which may be as little as one dollar BUT is normally 10% of the purchase price.

4. The date of the contract.

5. Signatures of all sellers and buyers.

Although the contract need not be written on the form provided by the Realtor, it is customary to do so. On larger properties a simple note is often written which include the above 5 items and says that a full contract will follow. Then, the short contract is followed by another formalized contract drawn up by the attorney for the buyer or the seller. That is then reviewed and usually changed to some degree by the attorneys for the other side of the transaction.

On larger and more complicated properties the contract can go to dozens or even hundreds of pages. The five items here must be included but hundreds or thousands of other items may need to be included for some properties.

Most contracts today, for residential homes, are written on the standard contract form authorized by the County Board of Realtors and provided by the purchaser’s Realtor. The deposit money, or earnest money as it is sometimes called, is usually deposited in the escrow account of the selling Realtor.

Until all of the items above are included and ratified by all parties there is not a contract but only a “contract in progress” or an “offer” as we call it. This can be an offer to sell or an offer to buy and there may be several counter offers going back and forth as negotiations continue.

When everything is finalized the fully written and agreed upon document is said to be ratified. Even then the contract is not fully enforceable until it is conveyed, and received, in writing to all parties. THEN and only then can it be said to be a full and complete and enforcable contract.

Copyright © 2001-2005 www.JodyHudson.com

What You Should Look For in Personal Injury Lawyers

Many people have experienced an injury caused by someone being reckless or careless. When this happens, they are inclined to file a lawsuit. Before doing so, it is important to speak with a lawyer. Personal injury lawyers are there to help clients that have been severely injured due to the negligence of another individual or business.

Many different types of personal injury claims are filed each year. These claims include medical malpractice, workplace injuries, slip and falls, and car accidents. A growing number of personal injury claims are being filed against businesses who are supplying defective products that cause injury. The reason behind filing a personal injury claim is to seek financial compensation due to the injuries that have been received. This amount of compensation is based on the extent of the injury and lost wages or loss of work.

When searching for a lawyer, keep in mind that not all lawyers specialize in person injury litigation. It is important to find a lawyer who does. The lawyer should also specialize in a specific type of injury as well. It is guaranteed that the insurance companies will have a heap of lawyers who are experienced in personal injury law and know it well. That is why you need a lawyer who is equally knowledgeable and experienced.

You will need to find a lawyer who has a number of medical experts at their disposal who will strengthen your case. The lawyer will need to have knowledge to cases that are similar to yours as well. A lot of time will be spent preparing for a personal injury case. Lawyers should be able to relieve your stress by filing motions when needed, gathering witness statements, and handle discovery.

Each lawyer has a specialty when it comes to the different types of personal injury claims. For example, people who are suing a physician will require a lawyer who specializes in the complicated and extensive laws regarding medical malpractice. A person who files a claim against a company for a defective product would not need the same type of lawyer.

People who have suffered from brain injuries or any other injury that prevents them from going back to work or have an injury that now requires lifelong medical care, should always hire a lawyer who has experience in these types of cases and who has won. These lawyers need to have medical experts and witnesses available who can help them prove the case. If you hire just any lawyer who is not experienced with your specific injury, the result will be lots of wasted time and money.

Car accidents, slip and fall cases, construction accidents, and defective product litigation all have lawyers who specialize in those areas. When interviewing potential lawyers, ask questions like: How many cases similar to yours have they worked? What was the final decision in those cases? What areas of personal injury do they specialize in?

Fighting insurance companies during personal injury litigation is the job of personal injury lawyers, not civilians. Your lawyer is responsible for helping you through the ordeal. They will provide the legal expertise needed to win the lawsuit. You need a lawyer to assure that you receive a fair trial. In order to release you of the burden of fighting insurance companies and focus on healing from your injury, it is imperative to have a good lawyer.

Attorneys – Legal Information On Filing A Lawsuit

The constitution was put in place to protect your rights as a human being, occasionally people are treated wrongfully and need to protect their own rights. You do this by filing a lawsuit against those who have wronged you. Filing a lawsuit has many steps to take to accomplish what you want so knowing those steps is the best way to approach your case.

The very first step in filing a lawsuit is filing the original complaint and the issuing of a summons. These two things will outline what it is that has happened to you, who it is you are filing the lawsuit against, and also what you are wishing to receive from the court system as a sort of relief or payment for your grief. After these two things are filed and issued the clerk of courts then informs the person that is being issued the lawsuit of the suit. After informed the defendant is informed of this they will give their answer to the summons which will most likely be an acceptance of the lawsuit or a countersuit where they will claim that the matter was actually caused by the prosecution.

After the defendant has filed their answer with the courts the case is officially opened and the discovery process begins. The discovery process is when both sides will begin to gather evidence to back up their side of the matter. This evidence must be registered and exchanged so that both sides are protected in a lawful way and may not be ambushed by hidden evidence or a secret withheld witness.

At this point something called a pretrial conference may be held with the judge that will be presiding over the lawsuit. The pretrial conference is set in place to minimize delays in the courts and is usually set around a week before the trial actually starts. The pretrial conference is also used so that a settlement may be negotiated if that is what both the prosecution and the defense want.

After all these different steps have happened the trial is able to begin. Witnesses are able to be questioned from both the prosecution and the defense. And the evidence is presented from both sides so that the proper outcome may be decided. The judge will then give the jury instructions on how to deliberate on the matter. The jury will then decide and the case will either reach what is called a verdict or a deadlock.