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Real Estate Law

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What We Can Do to Help You

Your Trusted Partner in Real Estate Transactions and Disputes

The Law Office of James Monteleon PLLC, we’re dedicated to providing comprehensive legal support for all your real estate needs, whether you’re buying, selling, or facing a property dispute. Our experienced attorneys are here to guide and protect you every step of the way, ensuring a smooth and successful experience.

Our Services:

  • Buying or Selling:

    • Residential & Commercial Transactions
    • Individual Homes, Condominiums, and Cooperative Apartments
    • Mortgage and Refinancing Transactions

  • Real Estate Disputes:

    • Foreclosures and “Short Sales”
    • Partition Actions
    • Title Disputes
    • Other Real Property Law Matters

Our Commitment to You:

  • Expert Guidance: We’ll work closely with you, your real estate broker, and mortgage broker, offering clear legal advice and representation throughout the process.
  • Thorough Document Preparation: We meticulously review and prepare all necessary documents, ensuring a seamless and stress-free closing.
  • Aggressive Representation: If you’re facing a real estate dispute, we’ll fight tirelessly to protect your rights and achieve the best possible outcome.

Contact The Law Office of James Monteleon PLLC  today for a consultation and let us help you navigate the complexities of real estate law with confidence.

Foreclosure: What is it and What Should You Do? 

Falling behind on mortgage payments can be overwhelming, but it’s important to understand that foreclosure doesn’t happen overnight. In New York, lenders must follow a legal process that includes notifying you and providing an opportunity to catch up on payments.

Here’s what you need to know:

  • Foreclosure in New York: Lenders must file a lawsuit to foreclose on your home.
  • Breach Letter: Before the foreclosure process starts, you’ll receive a breach letter giving you 90 days to bring your mortgage current.
  • Served with Foreclosure Papers? Don’t panic. Our experienced real estate attorneys can guide you through the process and fight to protect your home.

The Law Office of James Monteleon, PLLC is Here for You

We understand the complexities of foreclosure law and will work tirelessly to help you navigate the situation. Our goal is to find the best possible solution for your unique circumstances, whether that means negotiating with the lender, exploring loan modification options, or pursuing other legal strategies.

Take action now. Call us today for a consultation or submit a request and let us help you face foreclosure with confidence.

What is Real Property? 

  • Real estate primarily focuses on the tangible aspects of land and its attachments. Think of the physical plot of land, any buildings, and the natural resources present.

  • Real property expands this concept to encompass not only the physical components but also the bundle of legal rights associated with ownership. This includes the right to possess, use, enjoy, exclude others from, and dispose of the land and its structures.

In essence, real estate is the physical entity, while real property is the physical entity plus the legal rights tied to it.

Understanding this difference is particularly crucial in legal contexts, such as property transactions, disputes, or estate planning, where the rights and responsibilities of ownership are paramount.

What is a Short Sale? 

 
  • Short Sale Definition: Occurs when a homeowner sells their house for less than the outstanding mortgage balance.
  • Financial Impact: The homeowner remains responsible for the difference (the “deficiency”) between the sale price and the remaining mortgage debt.
  • Example Scenario: You illustrated this clearly with the homeowner selling for $140,000 despite owing $180,000, leaving them with a $40,000 deficiency.

Important Considerations:

  • Lender Approval: Short sales typically require lender consent, as they’re agreeing to accept less than the full amount owed.
  • Credit Impact: While less severe than foreclosure, short sales negatively impact credit scores.
  • Potential Tax Consequences: Consult a tax advisor as there could be tax implications depending on the forgiven debt amount and your circumstances.

What Do Real Estate
Lawyers Do?

Real estate lawyers play a crucial role in ensuring the smooth and legally sound sale or purchase of a property. Here’s an overview of what they typically do:

For Buyers:

  • Contract Review & Negotiation: Thoroughly examine the purchase contract, clarify terms, and negotiate on your behalf for favorable conditions.
  • Title Search & Review: Conduct a title search to ensure the property is free of any liens or encumbrances that could hinder ownership transfer.
  • Due Diligence: Investigate the property’s zoning, building permits, surveys, and any potential issues that might affect its value or use.
  • Closing Preparation & Representation: Prepare and review all necessary closing documents, ensure compliance with legal requirements, and attend the closing to protect your interests.

For Sellers:

  • Contract Drafting & Negotiation: Draft the initial purchase agreement, incorporating necessary protections for you, and negotiate with the buyer’s attorney on any counteroffers.
  • Disclosure Preparation: Ensure compliance with disclosure laws, helping you accurately disclose any known property defects or issues.
  • Closing Preparation & Representation: Coordinate the preparation of necessary documents, address any title or legal issues that arise, and represent you at closing.

For Both Buyers and Sellers:

  • Legal Guidance & Advice: Provide expert counsel on real estate laws and regulations, ensuring you make informed decisions throughout the process.
  • Issue Resolution: Proactively address any legal disputes or unforeseen complications that may arise during the transaction.
  • Document Preparation & Review: Handle the drafting, review, and execution of all necessary legal documents related to the sale or purchase.

In summary, real estate lawyers act as your legal advocates, safeguarding your interests and ensuring a successful property transaction. They offer valuable expertise and guidance, navigating the complexities of real estate law to help you achieve your goals.

If you have a real estate question, contact us and find out how we can help you. 

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Attorney James Rocco Monteleon has a track record of helping his clients get the results they want. He believes that everyone deserves fair representation and his practice is focused on ensuring that his clients are adequately represented in any matter they are involved in.

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