PRACTICE AREAS
Corporate / Business Law
Criminal Defense
Estate Planning / Probate
Motor Vehicle Accidents
Personal Injury
Real Estate
Social Security Disability
Workers' Compensation
Wrongful Death
 
ATTORNEYS
Scott D. Brown
John P. Lander
Kim R. Snitker
Travis M. Armbrust
Kaitlyn J. Ausborn
 
Brown, Kinsey,
Funkhouser & Lander, P.L.C.

214 North Adams,
Mason City, Iowa 50401
Phone: (641) 423-6223
Fax: (641) 423-9995
REAL ESTATE - Frequently Asked Questions
I. Brokers V. Home Inspection
II. Contracts and Transfers VI. Closing
III. Mortgages and Foreclosure VII. Glossary
IV. Deeds    
"Contact an Iowa real estate lawyer representing clients in Mason City, Iowa today to schedule your initial consultation."
 
Mitchell County Courthouse Osage Iowa  

Real estate is covered by both federal and state laws. State laws differ on a number of issues. As a result, it is important to protect your interests by retaining an experienced real estate attorney for routine as well as complex transactions. This overview will discuss topics that are important in understanding real estate law.

Brokers

Real estate brokers may be employed by sellers to find a buyer for a property, or by a buyer to locate a property for purchase. When a seller employs a broker, they sign a listing agreement which obligates the broker to work to locate a buyer, and the seller to pay the broker a commission upon sale. Brokers are usually held to rigorous standards in order to be licensed.

 

A broker is a legal agent of the person who hired him or her, and thus has duties and obligations to work in their client's interest. The broker is not a party to any agreements about purchase. These agreements are strictly between the seller and the buyer.

Contracts and Transfers

Real estate purchase agreements are governed by contract law. These agreements must therefore:

1. Be in writing.
2. Be marketable (free of encumbrances, liens, or other abstract defects).

Real estate buyers generally employ a real estate attorney or abstract company to research the abstract. This  process, called a abstract search, involves examination of the public records. The abstract searcher will go through the county's public records and assemble a chain of abstract by finding all recorded deeds for the property in question and the current property owners. He or she will also look for encumbrances on the property.Encumbrances include but are not limited to:

1. Mortgages.
2. Unpaid taxes.
3. Legal judgments.
4. Municipal improvement liens.
5. Government claims.
6. Foreclosures.
7. Easements.
8. Covenants.
9. Condemnations.

The seller is required to execute and deliver a deed which includes a legal description of the land. Most states require that this deed be officially recorded to establish ownership and notice of its transfer. The abstract company will also complete the same searches on the potential buyers that may reveal encumbrances that could be attached to the new abstract, affecting any mortgages or liens.

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If you would like to schedule a initial consultation contact an Iowa real estate attorney, representing clients in Mason City, Iowa at the Brown, Kinsey, Funkhouser & Lander, P.L.C.. Give us a call at (641) 423-6223 or email us at bfkl@bfkllaw.com
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Mason City, Iowa Attorney practicing in Iowa primarily in Workers' Compensation & Personal Injury. Lawyers at the Brown, Kinsey, Funkhouser & Lander, P.L.C. are dedicated to serve their clients in Iowa, including the cities of Mason City, Algona, Allison, Boone, Cedar Rapids, Charles City, Clarion, Dakota City, Des Moines, Eldora, Forest City, Fort Dodge, Garner, Grundy Center, Hampton, Marshalltown, Mount Pleasant, Nevada, New Hampton, Northwood, Osage, Toledo, Vinton, Waterloo, Waverly, Webster City and West Union, and the communities that make up Cerro Gordo, Benton, Black Hawk, Boone, Bremer, Butler, Chickasaw, Fayette, Floyd, Franklin, Grundy, Hamilton, Hancock, Hardin, Howard, Humboldt, Kossuth, Linn, Marshall, Mitchell, Polk,  Story, Tama, Webster, Winnebago, Worth, Wright counties.
© MMXIV Brown, Kinsey, Funkhouser & Lander, P.L.C. Email: info@bkfllaw.com Address: 214 North Adams, Mason City, Iowa 50401 Phone: (641) 423-6223
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