Many disputes can arise between the buyer and seller of a property during the real estate transaction itself and even after the transaction has been finalized. Handling these disputes often requires the assistance of an experienced real estate attorney in your area to ensure that all parties involved in the deal get what they are entitled to. Here are some of the most common real estate disputes.
Breach of contract
When real estate is purchased, real estate agents may use a standard contract and essentially “fill in the blanks” with details of the specific transaction. Because of this, however, the contract may be lacking key details about the transaction or inaccuracies. Ambiguous terms and inaccurate information in the contract are common sources of business disputes, as one party may allege the other has breached the terms of the contract.
Failure to disclose
In Arizona, sellers are required to disclose material information related to the property. Many disputes arise when a buyer finds a latent defect in the property after the transaction is finalized that the seller had actual knowledge of but did not disclose.
Restrictive covenants or easements
A restrictive covenant essentially limits the use of the property, stating what the purchaser is and is not allowed to do with the property. The contract may also include the right to an easement, where the purchaser has the right to use another person’s land for a specific purpose. Real estate transactions may result in disputes over a restrictive covenant or the boundaries of an easement.
Resolving a real estate dispute may be complicated. A real estate attorney can help manage any issues that come up relating to the purchase or sale of your real estate.