Real Estate Law and Real Estate Paralegals
Real Estate Law
Real estate law is very specific and the transactions that take place must be done so in a very methodical and specific manner. Most law offices that handle real estate transactions specialize in this branch of law, making it their entire practice. A real estate paralegal has specific functions within this type of firm, some of which are regulated by the states in which they work.
Real Estate Paralegals
A real estate paralegal will find that their two main job duties will be in research and document completion. Due to the high amounts of paperwork associated with this type of job, any paralegal that works in this industry will need to be highly organized and able to meet strict deadlines.
On a typical day, a real estate trained paralegal can expect to:
• Perform title research on properties – For a real estate transaction to be completed successfully, the title to the property must be clean before the next purchaser can assume ownership. A paralegal will often be required to research the title of a property, tracing it back to the inception of the property being for public sale and make sure that each time it has been sold it was done so correctly and that there are no hidden owners or liens against the property.
• Research zoning issues – Commercial purchases may require the property to be zoned for business, even if it is in residential areas. Zoning applications and hearings may be the sole responsibility of the paralegal, depending on the law office. Attorneys representing corporate clients often have the law firm complete all necessary steps to secure zoning changes before a property is purchased.
• Apply for permits and licenses on behalf of their client if construction will be performed on the property. If the property is vacant and the client intends to build, often the paralegal will apply for all the necessary permits and licenses to have the land cleared, electricity and sewer brought in, as well as having building permits approved.
• Create transaction documents for the attorney to approve – Paralegals often create all the documents and contracts associated with real estate purchases. Even if state provided forms are used, the attorney will have the paralegal prepare them for their final approval.
• Have documents signed by clients – Paralegals are often in charge of obtaining all necessary signatures on transaction documents before the final closing occurs.
• Notarize closing documents – Depending on the state, some paralegals can notarize and finalize the losing paperwork of a real estate transaction without the attorney being present. If all the documents were agreed upon prior to the closing, the paralegal acts as the Notary and officiates and files all documents.
• File documents with the appropriate court division – Different transactions will require different forms to be filed with the court.
• Order surveys on properties – All properties will require a survey to be performed. Some properties may already have a survey, but depending on how old the survey is, may require another.
• Contact government officials about property questions – If a client is seeking to purchase land currently owned by the government, or if a government body is trying to acquire land through eminent domain, a paralegal may be required to interact with officials to assist in the case.
• File notices in newspapers on foreclosures, purchases and zoning changes. Most real estate transactions, other than purchasing a private home, require public notice. Paralegals are responsible for posting the correct information in the newspapers to comply with this law.
• File paperwork with banks regarding purchases or foreclosures. Because most property that is purchased is done so with the assistance of a mortgage, the banks and lenders are almost always involved with the lender. Paralegals will need to work with lending institutions on many levels during the process.
• Meet with clients and prescreen their needs before they meet with the attorney (see: interviewing techniques – paralegal and client). Before any transaction takes place, the client must first contact an attorney to represent them. When they make contact, a paralegal will interview them and prepare the client and the attorney for the first scheduled meeting between the two parties.
This is just a sampling of the different job responsibilities you may encounter each day in a real estate law office. Your actual duties will depend on the case you are representing and cab be seen in the post about the paralegal job description.
Different Areas Of Real Estate Law
Real estate is a very broad subject, which is why a paralegal interested in this field must be able to pay attention to the smallest detail. A law office can handle many different real estate transactions including:
• Private purchasing of homes or property
• Commercial purchases of land or buildings
• Corporate purchases of property
• Government purchases
Paralegals may work with an office that represents either the seller or the buyer. In some cases, the firm may be representing a plaintiff or a defendant. The type of transaction that takes place will determine the responsibilities of the paralegal.
They may also have transactions that will deal with:
• Zoning
• Probate or estate issues
• Corporate takeover, corporate bankruptcy, partnership dissolution
• Eminent Domain
• Foreclosure Properties representing either plaintiff or defendant
• Bad titles
• Insurance issues
• Construction issues
*** Each real estate case is going to have separate requirements and legal processes.
Real Estate Trained Paralegals And State Laws
In most states, the law requires any work that a paralegal performs on a real estate transaction to be verified by an attorney for accuracy and to make sure the work complies with the law. These laws do not restrict in any way the work that a paralegal can perform, unless specified in a certain state.
A paralegal can manage a real estate transaction from start to finish, even notarizing closing documents to complete the sale, if the attorney they work for gives their approval on the contracts and documents before the paper work is signed. In many cases, the attorney does not even show for the final real estate transaction.
Paralegals are allowed to perform almost all the same duties that a lawyer can do except represent someone in court or provide a criminal defense. Real estate transactions may fall under criminal prosecution or defense at times. When this occurs, paralegals may only assist on the necessary research for the case.
Qualifications
Real estate transactions require that the paralegal has some pre-existing knowledge of real estate law. This may be obtained through schooling or through a previous career in the industry. Most firms, however, prefer a paralegal with formal educational training.
When you work of a law office that specializes in this area, you will need to be very organized, have the ability to interact with clients, and be able to track and complete a lot of paperwork. Unlike paralegals that work in other areas of law, real estate paralegals will be spend much of their time on research.
Different Employment Opportunities
When a paralegal has specialized paralegal training in real estate, they are not required to only work for a law firm. There are many different employment opportunities available to paralegals in this field which include:
• Corporate Real Estate Offices – Many large corporations that complete several real estate transactions each year will have paralegals on staff to make the process run more smoothly. This also reduces their legal costs because the paralegal has completed most of the work for the transaction prior to the company hiring an attorney.
• Real Estate Offices – Large real estate offices often have paralegals on staff to help with sales transactions.
• Government Procurement Offices – Government offices that need to purchase or sell land have paralegals on staff to complete most of the transactions for them.
• Probate Law Firms – Many probate attorneys have a real estate trained paralegal on staff for property issues in a probate case.
• Title Companies – Many title research companies will only hire paralegals to do their title searches to ensure the process is done in compliance with the law.
• Builders and Contractors – These companies hire real estate trained paralegals to keep on staff to reduce their legal fees and increase their purchasing powers. Paralegals who work for builders will deal a lot with government officials to obtain zoning and building permits as well as with survey companies.
• City and County Building Offices – Many of the municipalities will hire paralegals in their zoning and permit offices to ensure that every transaction is within the tolerance of the law.
• Home Owner Associations (HOA’s) – Private associations will often employ a paralegal to ensure that home owners and real estate transactions that take place within their community are in compliance with the rules and regulations of the Home Owners Association.