Best Real Estate Lawyers in Louisville, KY

FAQs

• What is the non-emergency contact number for the local police station in Louisville, Kentucky?

  Contact the Louisville Metro Police Department at 502-574-2111 or 502-574-7111.

• Where can I get a copy of police reports for incidents related to my case in Louisville, Kentucky?

  Get incident reports at the public service counter of the police station between Mondays to Fridays 8:00 AM to 4:00 PM. The address is 701 West Ormsby Avenue Suite 001 Louisville, KY 40202. Call 502-574-6857 for more details.

• Are there limits to title insurance of property in Louisville?

  Yes. Title insurance typically does not cover issues that arise outside of the recorded chain of title. Other issues that are not addressed are boundary line disputes, unpaid public utility bills, and unrecorded mechanic's liens. Items not covered by the insurance will be noted in the policy, and the buyer will be advised by a Louisville real estate lawyer during the title examination.

• How is the value of a property in Louisville assessed?

  Guided by the computer-assisted mass appraisal (CAMA) system, the county administrator uses the cost approach to value, income approach to value, or market approach to value. The administrator's methods are in accordance with the Kentucky Department of Revenue’s Office of Property Valuation and Kentucky Revised Statutes. For more information on property appraisal, call the Jefferson County Property Valuation Administrator at (502) 574-6380 or send an email to pva@jeffersonpva.ky.gov. Visit the PVA office in the Glassworks Building at 815 W. Market St. Suite 400 Louisville, KY 40202-2654.

• Can you sue a landlord in Louisville for not returning the security deposit?

  Yes. You can sue the landlord in Louisville for not returning the security deposit. According to state law, the deposit must be returned to you within 30 to 60 days of your move. Under these laws, the landlord may also deduct any outstanding rent and/or the cost of property damage repair from your deposit. If repairs are required, the landlord must provide you with an itemized list that includes receipts, invoices, and bills.

• How can you legally control a vacant yard next to a home in Louisville?

  First, determine who owns the vacant yard. Call the Community Development office at 502-574-4016 to see if the lot is owned by the Landbank Authority, Louisville local government, or the Urban Renewal Commission. If it is privately owned, you can inquire with a real estate agent to see if it is available for purchase. If you are unable to contact the owner, you can investigate whether the property is eligible for municipal foreclosure.

• Is an attorney required in a real estate closing in Louisville?

  An attorney must be physically present or involved in a real estate closing in Louisville under state law. Non-lawyers are not permitted to handle real estate closings, according to Kentucky Bar Association Opinion KBA U-58. During the closing stage, lawyers typically handle title examination and insurance, review documents, record and disburse payments, and coordinate among parties.

• What does a real estate attorney do?

  Real estate attorneys are responsible for preparing and reviewing transactional documents and helping clients with the closing process. They draft purchase agreements, perform title searches, write title insurance policies, disburse funds, and prepare federally mandated HUD-1 settlement statements. They can also help clients understand the tax implications of selling a home. In the case of a dispute between the buyer, seller, or a third party, real estate attorneys also defend clients in court. Even if there is no identifiable dispute over the transaction, an attorney will make sure everyone “plays by the rules” during the purchase or sale.

• Can I purchase property without a real estate attorney?

  In some cases, it’s possible to purchase residential or commercial real estate without consulting a real estate lawyer. However, legal representation is required in approximately 20 states, and some jurisdictions require a lawyer to be present at the closing. Usually, real estate attorneys take over once real estate agents have an offer in hand. Buyers are encouraged to consult an attorney when purchasing damaged or bank-owned property or real estate located in high-risk areas. Attorneys can also assist out-of-town buyers and negotiate favorable solutions if liens, structural issues, or legal challenges crop up during the procurement.

• What does a real estate attorney do for a buyer/seller?

  Real estate transactions may seem cut and dried, but it’s common for unforeseen difficulties to arise. Attorneys who represent buyers or sellers can facilitate a successful transaction while protecting their clients’ interests and preventing costly mistakes. On the buyer’s side, attorneys can provide advice related to financing, estate planning, tax law, and first-time home buyer credits. Real estate attorneys can also help sellers who are dealing with challenges due to liens, structural damage, probate disputes, or uncooperative partners.

• What’s the difference between real estate and property?

  Real estate includes land, permanent structures, and natural resources, such as water, minerals, and trees. Property typically describes personal items and belongings that aren’t permanently attached to land. The transfer of real property includes the bundle of legal rights, which give landowners the freedom to possess or occupy the property, enjoy their land without interference, restrict others’ access to the property, and dispose of their ownership rights as they see fit.

• What happens when a real estate lawyer puts a lien on you?

  In most cases, liens stay attached to the property until the debt is satisfied or the debtor files for bankruptcy. The creditor’s rights vary depending on whether the lien is voluntary or involuntary. Additionally, if a lien has been perfected, that lienholder has priority over other creditors. Voluntary liens are most common when homeowners use their property as collateral against a secured loan. Involuntary liens are typically related to back taxes, court judgments, and child support. Properties are also subject to involuntary mechanic’s or materialman’s liens in case a customer or contractor fails to pay for materials or labor. Liens don’t necessarily prevent someone from transferring property, but most buyers want a title that’s free and clear.

• What does a real estate lawyer do at closing?

  Lawyers perform critical functions during every stage of the closing process. They draft and review documents, negotiate contracts, and finalize all of the details needed to close the sale. Attorneys who represent buyers can negotiate the terms of sales contracts, including contingencies, perform title searches to ensure that the seller can legally transfer ownership, and resolve issues related to third-party claims, liens, and easements. They can also assist with loan paperwork, title insurance, and other financial matters, such as taxes and transfer fees. Real estate attorneys who represent sellers are responsible for handling deeds, insurance declarations, and payoff letters.

• Do I need a lawyer to sell my house privately?

  Not necessarily. Some states require a real estate attorney to be present at the closing, but there are some situations when you might consider hiring one even if it's optional where you live. Examples might include:

  • You're selling the house with an uncooperative partner
  • You've inherited a property from an owner who is now deceased
  • You anticipate tax consequences

• Can a real estate lawyer represent the buyer and seller?

  Generally speaking, no, because the seller and buyer have different priorities when it comes to a home sale, and some of those interests conflict. States have specific laws governing whether or not a real estate lawyer can represent the buyer and seller, and if this does happen, there's often a waiver that has to be signed by both parties acknowledging a conflict exists. States may have different names for a document like this, but it's usually called a Conflict Waiver. Acceptable exceptions for using the same real estate lawyer might include a property being transferred from one family member to another, such as a father to his son.

• How much does a closing attorney cost?

  Some states require a closing attorney, while others deem it optional. The cost of hiring a closing attorney varies widely by the state and law firm you choose. You can expect to pay between $2,500 and $3,000 for a simple buy/sell transaction, but keep in mind that this cost is likely to vary depending on your location and the complexities of the closing.

• Do you need a lawyer to sell land?

  Technically, no, you don't need a lawyer to sell land, but there are some situations when it might be a good idea. You might consider hiring an attorney if you are faced with existing boundary disputes, involved in a sale of land that's partially wetland, or in circumstances concerning tax issues. Specific laws related to land vary by state, but one potential issue is the tax rate, which can differ depending on whether the land can have structures built on it.

• What role does a real estate lawyer play in mortgages?

  Lawyers can assist buyers and sellers in transactions involving bank financing. They can review the fine print, any title insurance declarations, and the mortgage terms. A real estate attorney also will ensure that funds are distributed to the correct parties, especially if there are any outstanding mortgages or liens that need to be paid before the title transfer.