No one likes being involved in property disputes. Nonetheless, it is a sad reality which many of us have to deal with at least once in our lifetime. Real estate owners and their tenants wish to be left in peace whether they are constructing a new building or living on a property. Irrespective of all these, disputes might arise on issues like the real owner of the land, the party liable to pay for damages, etc. A property dispute might involve any type of property like a commercial building, road, empty lot, home, or even a pond. These disputes generally arise out of disagreements over zoning issues, responsibility for repairs, rightful ownership, one property impacting the other like a new home blocking another one. Today we are going to discuss the common forms of property disputes so that you can easily understand which one you fall under:
- A breach of contract might happen if one party to the contract doesn’t follow the terms of the agreement causing the other party to claim damages for their losses caused by the first party’s action. You can take the example of a tenant who doesn’t follow the lease rules or a homebuyer who fails to pay the predetermined price to the seller. These situations are considered to be a breach of contract under the purview of the law.
- Boundary disputes are a common type of property battle which arises between neighbors when they face disagreement over the positioning of property lines. Chances of such disputes aggravate when the property boundaries were never specified in the first place or not properly registered.
- One party to the contract might intentionally mislead the other one for extracting more resources or money from negotiation. This is known as real estate fraud and examples of such frauds committed commonly are illegal property flipping, straw buyer schemes, and predatory lending.
- Specific performance dispute arises when one party to the contract fails to perform upon the agreed material action. In such cases, the court might force the party who has breached the contract to perform their promised action. However, they cannot solve the problem with money like other types of contract breach resolutions. They need to perform specific activities to reach a conclusion.
- Last but not least comes co-owner disputes arising between multiple owners of a common property who disagree on a common issue. Some common examples of such problems are when the co-owners have separate standpoints on selling the property, improving it, or holding it for investment.
Property disputes are common and you should always try to agree with the other party without a legal battle. However, if the legal disputes become too complicated for you to handle alone, then you can seek the assistance of professionals like a dispute attorney. A probate attorney might come to your rescue if the property conflict arises between siblings having a strained relationship on the passing away of their ancestors who did not make a clear will regarding the succession of the property.