Private Real Estate Transactions
Mark Twain quipped, “Buy land, they’re not making it anymore.” Real estate provides security and opportunity, and often it provides leverage to build wealth. Or maybe it just a chance to buy a plot of earth to call home. Our Sioux Falls real estate attorneys provide a broad range of real estate services, but much of our work focuses on residential and commercial property. We will provide you with sound tax and asset protection planning and make sure your real estate investment is on a solid foundation and handled with care.
Sioux Falls Real Estate Lawyers
Real Estate Background
Whatever your real estate goals are, make sure you are doing it correctly, because after all, it isn’t cheap. Not only do you want to make sure you are investing correctly, but you also want to make sure you are taking advantage of tax laws. As an owner of real estate, you also want to make sure you protect your investment and that you are protected should anything bad happen on your property.
Legacy Law Firm's real estate lawyers represent clients in a wide variety of real estate transactions. Whether you are looking for a real estate purchase agreement, lease agreement, easement, to shoring up an investment property to grow your private wealth, our team of Sioux Falls real estate attorneys are here to help.
What We Do
- Reviewing & Drafting Contracts
- Assisting in Negotiations
- Creating Entities for Ownership & Liability Protection
- Advising on Conditions
- Covenants & Easements
- Asset Protection Planning
- General Property Transfers
- Buying, Selling & Leasing Real Estate
- Reviewing and Negotiating Carbon Pipeline Easements
Frequently Asked Questions
Why should I have a lawyer in my real estate transaction?
Engaging a lawyer in your real estate transaction is essential for navigating the legal complexities involved. A lawyer provides invaluable expertise in reviewing contracts, conducting due diligence, and ensuring legal compliance, ultimately safeguarding your interests throughout the process. Purchasing or selling property or a home is likely one of the largest financial transactions you may deal with, so it’s critical to do it right.
What is a deed, and what role does it play in real estate transactions?
A deed is a legal document that transfers ownership of real property from one party to another. In real estate transactions, the deed serves as the official record of property ownership.
What is a 1031 exchange, and how can it benefit real estate investors?
A 1031 exchange is a tax-deferred strategy that allows real estate investors to reinvest proceeds from the sale of one property into another similar property, thereby deferring capital gains taxes. This enables investors to preserve capital for reinvestment and potentially expand their real estate portfolios.
What is a contract for deed, and how does it differ from a traditional mortgage transaction?
A contract for deed is a financing arrangement where the seller directly finances the purchase of the property for the buyer. Unlike traditional mortgage transactions involving third-party lenders, contract for deed transactions are negotiated directly between the buyer and seller, providing flexibility for buyers with limited financing options.
What is involved in a traditional mortgage transaction?
In a traditional mortgage transaction, a buyer obtains financing from a third-party lender, such as a bank or mortgage company, to purchase real estate. The lender provides funds upfront, and the buyer repays the loan amount plus interest over a specified term.
What should I know about zoning and land use?
Whether you are purchasing commercial property, adding onto your home or building on land that you purchased, you need to make sure you are in compliance with various zoning and land use requirements set by the government, or it can be disastrous.
Locations We Serve
Legacy Law Firm offers legal services in estate planning, asset protection, elder law and trusts to individuals and businesses throughout the Midwest. We currently practice in these states:
- South Dakota
- Iowa
- Minnesota
- Nebraska
- North Dakota
- Colorado
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