Real estate is deemed costly investment that no one wishes to lose in disputes; especially where the disputes get more complicated due to contingent business issues, i.e., breach of partnership agreements, sale of businesses, and insolvency. In short, real estate disputes are straining and unpredictable.
We have acted for our clients’ profit, whether they are buyers, sellers, agents or brokers. From development to regeneration disputes, our litigation team at Le & Tran real estate law firm is prepared to tap into our experience and exercise our critical thinking to guide our clients towards a solution that is most suitable for their legal and commercial needs.
What does a real estate lawyer do?
A real estate attorney is responsible for conducting the following tasks:
Review of title documentation
A title document is a paper that defines the legal ownership of an individual or an organization to any portion of real estate. In general, ownership rights comprise the right of possession, use, and disposal. Our real estate lawyers team will work on behalf of the buyer to search and review the validity and effectiveness of these vital documents.
A critical question in real estate transactions is whether the seller, transferor, or lessor has the legal right to sell, transfer, or lease the property. With extensive knowledge of the property sector in Vietnam, we resolve your concerns by a thorough review of the title documents and takes the necessary legal actions to achieve your goals. Our commercial real estate lawyers ensure that the property will be conveyed without any legal encumbrances or practical encumbrances (e.g., the property is being used as security for another obligation or is under dispute).
During a title search it may be revealed that a property is pledged, mortgaged, or used as security for another obligation, or is under dispute or subject to enforcement of the Court’s final judgment. At Le & Tran, our lawyers provide solutions and assist in taking the necessary steps to certify that such property and the related parties complete the requirements and fulfill all related obligations prior to transferring the real estate to our clients.
Draft and review contracts and agreements
Contracts and agreements, once signed, are legally binding on all parties. In most cases, the buyer and seller are not aware of the full extent and scope of these legally binding documents. Many provisions of the contract can be potential traps that will be against your interests and give rise to disputes in future. With extensive knowledge and experience in litigation and dispute resolution, we assists clients to comprehensively review the contract content to eliminate, amend and supplement extraordinary or unfavorable terms. Le & Tran’s real estate law firm has represented a wide range of clients, from individuals to enterprises and large corporations, in obtaining an equitable and fair purchase contract. Further, we are able to anticipate potential risks and disputes and foresee contingencies and opportunities to maximize the client’s interests. With over a decade of consultation experience and active participation in all stages of court and arbitration proceedings, our real estate team has a successful record of protecting clients from any disputes that may arise in the future.
Draft and review documents related to secured transactions
Deposits and mortgages are commonly utilized for security in real estate transactions. When purchasing and transferring real estate, the seller typically requires the buyer to pay a certain amount in advance as a deposit to ensure the full execution and performance of the contract. In cases where there is a significant real estate purchase, should there exist no capability to pay the entire amount of the purchase price, the buyer often borrows money from a bank or credit institution, and mortgages the real estate intended to be purchased, to secure their debt repayment obligations. However, most parties to a transaction are unacquainted with secure transactions and the relevant legal consequences that may arise. Our real estate attorneys will provide advice concerning all the relevant legal issues, review the deposit contracts as well as the related mortgage documents, and assist our clients with other issues that may arise in the transaction.
Negotiation is an important process in real estate transactions. Each party to the transaction needs to understand its own strengths and weaknesses to formulate an appropriate negotiation strategy to achieve optimal benefits. The real estate lawyers comprehensively review the facts of each case and advise on appropriate strategies before representing clients in the negotiation process with the related parties.
Participate in the property transfer process
The transfer of property must comply with the provisions of the law. We supervise the transfer process from start to finish and assist in carrying out the necessary administrative procedures (i.e., issuance of certificates of land use rights, ownership of houses and other assets attached to the land, registration fees, personal income tax, etc.) to facilitate and ensure that the ownership of the real estate is properly completed. In addition, our real estate counsels also participate in the actual handover of the real estate to certify that the client owns the property pursuant to the terms of the agreement.
Real estate disputes are various and are specific to the facts of each case. They include purchase, transfer, boundary disputes, claims concerning ownership, usage rights, and real estate management and rental (office buildings, apartments, hotels, factories, etc.).
With extensive and multi-disciplinary litigation experience in the real estate sector as well as the fields of construction, tax, administrative, commercial transactions, civil and many others, we continuously search for alternatives to costly and time-consuming litigation, such as pre-case mediation. We work closely with the parties to resolve disputes, maintain business relationships and narrow the scope of litigation. Should litigation become unavoidable, the commercial real estate lawyers of Le & Tran will represent clients in all stages of the proceedings (i.e., trial, and appellate courts, arbitration, and enforcement) to protect and optimize our client’s interests.
When do you need a real estate law firm or commercial real estate lawyer?
A real estate lawyer may be required to draft documents, conduct property appraisals, participate in bargaining sessions, negotiate deals, or represent you in litigation involving your property.
Whether or not you need to hire a real estate lawyer or real estate law firm is dependent on your confidence in your knowledge of the real estate law of Vietnam. However, if there exists a particularly difficult or complex situation, such as foreclosure by a government agency, fraud, mortgaged property, or litigation, then you should consider hiring a real estate legal expert. For less complicated situations or administrative procedures only, you can also work with a commercial lawyer to ensure all the steps are followed according to the law as well as to save time in avoiding cumbersome real estate administrative paperwork.
Should you hire a real estate attorney?
A real estate attorney’s main duty is to protect you and your legitimate interests. He is a support system, a shield and a valuable resource that provides you with peace of mind for your investment, from the negotiation stage and implementation of secured transactions, through to finalizing the official purchase and sale contract. It also covers payment, handing over the property, adjusting the certificate of property usage rights, establishing real estate ownership and closing the transaction. Hiring legal expert comes with a fee, but this is a reasonable expenditure considering that your long term interests are involved. Here are five clear reasons why you should hire a commercial real estate lawyer:
Someone must carefully read all the documents and, more importantly, understand their meaning. Hiring a real estate lawyer from the beginning of the transaction process to review all agreements and contracts and assist in negotiations will ensure the utmost level of transparency and efficiency for the parties. Whenever you do not understand a term or part of the process, you can count on your counsel to clarify any ambiguous language and ensure that your requirements are accurately communicated, expressed, and recorded during the transaction.
The upfront fees of hiring a law firm are insignificant in comparison to the possible financial impact of making a mistake that had long-term consequences. For example, you could suffer serious damage if restrictions on real estate are not discovered and resolved prior to the parties officially entering a purchase contract or should incorrect information be given during the negotiation process. A real estate team of the firm will protect you and your investment by scrutinizing all legal documents, managing negotiations and clarifying issues you may not have thought of. As real estate is often one of the biggest investments of your life or the viability of your business, the financial savings and knowledge of a good real estate lawyer is priceless.
Even if this is not your first real estate transaction, an experienced real estate lawyer has undergone the process more times than you ever will in a lifetime. He has experience, professional knowledge and is familiar with the latest developments and provisions of local laws across the country as well as internationally. For particularly complicated cases (e.g., new construction projects, zoning disputes or real estate located in historic areas), legal assistance from him is extremely important and necessary to minimize any risk that could delay or affect your real estate transaction.
There are several stages prior to completing a real estate transaction, such as the deposit, mortgage, title insurance, purchase contract and handover. Hiring a sophisticated lawyer to review, adjust and prepare all documents from inception to closing the transaction and ensuring that you and your assets are protected will relieve you of a significant burden. Owning real estate is a major investment and the support of an experienced commercial real estate lawyer can guarantee a successful and timely transaction for you or your business.
A diligent real estate lawyer works for you, represents your interests and will negotiate on your behalf during the transaction. He acts as a facilitator to guide you step-by-step through the complexities of a real estate transaction as well as being a protector – assisting you to avoid difficulties and risks that you cannot foresee. With the legal advice of a competent counsel, you can rely on the fact that your family and your investments are protected and that you are following the right path towards owning property.
The real estate law firm responsibilities
A real estate law firm is responsible for:
- Reviewing the legitimacy and reasonableness of the documents;
- Preparing an assessment of the legal risks;
- Anticipating and preparing for potential litigation disputes;
- Interpreting the impact of rules and regulations regarding the changes and amendments in real estate law;
- Monitoring the entire transaction process to ensure legal compliance; and
- Providing representation and participating in dispute resolution at all stages of the proceedings.
How much will a real estate attorney cost?
Depending upon the type of property, its location and the complexity of the case, the amount and scope of a real estate lawyer‘s fees will vary. In addition, the experience and reputation of the lawyer and his real estate law firm are key factors affecting the amount of legal fees. Le & Tran’s real estate lawyers team offers service fee packages that can be customized for each specific case and the unique needs and budget of each client. Below are some fee calculation methods currently applied by our firm:
The client pays a pre-established set fee to complete or resolve the matter.
The client pays a fee based on the actual working hours of lawyers, multiplied by the unit price of one hour worked by the relevant real estate lawyer assigned to the case. The unit price of an hour will vary according to the rank of each lawyer. The lawyer’s rank is based upon his or her capacity, experience, and reputation.
Depending on the needs and budget of the client, we can customize the appropriate combination of fee calculation methods.
Le & Tran has the best real estate lawyers team near you
Our team has over a decade of experience real estate litigation and the multifaceted characteristics of the industry. Our real estate lawyers possess a thorough understanding of the complexities of transactional financing and structures of ownership, as well as the unique rules and regulations that apply to real estate and secured transactions. We pursue a strategic, focused approach to problem solving that assists clients in attaining their goals in the most efficient and cost-effective manner possible – whether in Vietnam or internationally.
Our clients include individuals, organizations, sellers, buyers, borrowers, lessees, lessors, project investors, contractors, banks, credit institutions, guarantors, and others. These clients seek our real estate experience and knowledge and representation on a wide array of issues such as purchase agreements and security enforcement, restructuring financial obligations, recovering secured or unsecured assets, amendments to debt and equity financing, managing and enhancing assets, and acquiring new assets on an adjusted cost basis. We also possess a wide range of practice areas that permits us to assess our clients’ needs over numerous legal fields and to utilize the resources necessary to seize opportunities and avoid potential risks at all stages of the transaction and potential litigation.
LE & TRAN Building
No.9, Area 284, Nguyen Trong Tuyen Street, Ward 10, Phu Nhuan District, Ho Chi Minh City, Vietnam
Telephone number: (+84–28) 38421242).