Real estate litigation is becoming increasingly common in the current market. Whether you are a property owner, a landlord, or a commercial real estate developer, there is a good chance that you may become involved in a real estate dispute at some point in your career. The need for real estate litigation arises when the parties are unable to come to a compromise. Yet, certain disputes might be resolved out of court. Due to its bustling real estate market and status as a megacity, Dubai is more susceptible to the same issues. However, the laws put in place by the government of the United Arab Emirates have brought everything under control and made clear the duties and rights of financiers, developers, property owners, and landlords.
Our lawyers in Dubai, United Arab Emirates, are qualified and experienced in the real estate industry. They have solid experience and are aware of the best way to approach each case about the available information. Our attorneys discuss several precautionary measures as well as the most frequent causes of real estate lawsuits.
The Real Estate Litigation’s Causes
Real estate sales agreements employ contracts. Whether you decide to buy or sell real estate, you will be required to sign a sales contract that will outline the obligations of both you and the other party. The real estate contract will specify the closing date, title clearing, financing, and the items that will be included with the home purchase. If either party fails to comply with the terms of the agreement, the other party may be entitled to bring a claim for breach of contract.
It’s important to carefully read your real estate sales contract. We suggest having a real estate litigation attorney review the agreement. Real estate agents frequently use generic agreements that aren’t tailored to real estate deals. These model contracts could not protect your rights or give you the option to sell or buy the property in a way that satisfies your needs. An attorney can look for red flags that could jeopardize your future financial stability.
Not Recognizing a Property Fault
In most countries, the seller is required to make any hidden defects that could lower the property’s value known. If the buyer discovers a defect after closing on the property, they have the right to sue the seller. A vendor may be held accountable by the client if they conceal a knowing and hidden defect. The buyer must show that the defendant purposefully concealed the flaw even though they knew or should have known about it.
Duty Violation or Carelessness
A real estate agent could be sued for negligence or duty violations. According to the law, real estate brokers must act in their client’s best interests, not their own or those of any other party.
A real estate litigation attorney may negotiate with the other party to resolve any issues they find in your real estate contract that raise red flags. Instead of running the danger of becoming legally entangled, it is best to take the time to carefully analyze the agreement before you sign it. All customer information, including their financial situation, must be kept confidential by real estate brokers.
Also, real estate brokers must give them all to deliver their services. When they make a mistake that costs their clients money, real estate brokers are accountable for any loss brought about by their negligence. Real estate brokers must also divulge any information that can be helpful to their clients. Think about a scenario where a real estate agent knows of a problem with the property but decides not to tell the buyer about it to keep the commission from the sale. The client has the legal right to sue the real estate agent in this circumstance.