Best Real Estate Lawyers in Albuquerque

FAQs

• What is the non-emergency contact number for the local police station in Albuquerque, New Mexico?

  The police non-emergency line in Albuquerque is 505-242-2677 (505-242-COPS).

• Where can I get a copy of police reports for incidents related to my case in Albuquerque, New Mexico?

  The Albuquerque Police Department Records Division can be reached at 505-768-2020. In-person inquiries are possible across nine substations listed at https://www.cabq.gov/police/public-reports/albuquerque-police-department-records-division.

• How can a tenant in Albuquerque prevent eviction?

  A tenant in Albuquerque can prevent eviction by talking things over with the landlord and trying to establish mutually agreeable terms of payment. If a case is filed in court, the defendant must seek legal assistance and has the option of resorting to litigation or mediation to resolve the dispute. Look for lapses in due process like insufficient notice and the unilateral disconnection of utilities which can be used against the claimant.

• Why is it vital for a landowner in Albuquerque to put up "no trespassing" signs and fences around a piece of land?

  It is vital for a landowner in Albuquerque to put up fences and "no trespassing" signs along a property's perimeter because it prevents squatters from acquiring any rights. Under the rules governing adverse possession, an occupant of an asset can obtain a legal title by being a possessor in good faith. Good faith is not available if there are signs indicating that the plot has an owner.

• Can the City of Albuquerque introduce rent control measures that would limit the power of landlords to raise dues?

  No, the City of Albuquerque cannot introduce legal measures that would limit the power of landlords to raise dues. The state of New Mexico has a legislative ban against rent control. This prohibits cities and municipalities from enacting local ordinances that would impose caps on how much a landholder can increase periodic payments.

• What are the rules for subleases in Albuquerque?

  In general, a property renter in Albuquerque is not prohibited from subletting an asset, especially when avoiding the penalties of moving out early. This can be limited if there is a clause in the lease agreement requiring that the lessee get permission from the lessor first, or if the clause outright prohibits subleases.

• Can the buyer of a house in Albuquerque claim a non-disclosure violation if a house is sold and the seller failed to disclose that the previous owner was a serial killer who killed victims in the basement?

  No, the buyer of a house in Albuquerque cannot use the non-disclosure of the house's previous use and ownership against the seller. The state law specifically exempts crimes committed from the required disclosures when selling real property. That area falls within the coverage of the buyer beware principle and the purchaser has to do the research.

• 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.