Property Lawyer Job Description
Property lawyers are also known as real estate attorneys. They are usually hired by those who need help understanding purchase contracts for real estate, titles and other legal property documents. This type of lawyer can be beneficial in ensuring a property transaction is professionally negotiated. Those seeking the advice of a property lawyer should schedule a consultation and allow the lawyer to analyze the case to determine what services they can offer.
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Significance
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A real estate lawyer may prepare mortgages and leases. They may also act as a trustee for a client's property. Their clients may also use them to handle real estate transactions, such as buying or selling. The lawyer may also accompany clients to a property closing meeting to help them review their paperwork.
Education
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Real estate lawyers are required to earn a bachelor's degree and graduate from an accredited law school. Many pursue undergraduate fields--such as English, political science, economics and other fields--that enhance their analytical and research skills. The lawyer should ensure that the law school of their choice is approved by the American Bar Association. The Law School Admission Test is required for potential lawyers to be granted admission to law school. Courses may include property law, legal writing, contracts and other topics affiliated with law. Potential lawyers may also gain exposure to the law through legal clinics and other projects facilitated by the school in which they are enrolled.
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Features
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A real estate lawyer can prepare all of the legal documents necessary for a property transaction and can register the paperwork with the necessary agency. The lawyer can also help the client secure title insurance protection that will help to protect the client. In some cases, the lawyer can act as the power of attorney on behalf of the client.
Fees
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Many real estate attorneys charge by the hour, but many charge a flat fee for their services. Most charge a higher fee to negotiate the purchase of property than to sell property, since they are required to prepare more documents when negotiating purchases. The average costs range from $500 to $1,500 as of August 2007 to negotiate a property transaction. Most lawyers will provide their clients with an estimate prior to their services being retained.
Salary
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According to Salary.com, real estate lawyers earned a median salary of $115,409 as of November 2009. The highest-paid earners made $135,952. In addition, many employers offer them paid time off, bonuses and other benefits, such as 401k plans. Those who started their own businesses may be required to work part-time in other areas or for private companies to supplement their income until their business is established.
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References
- Photo Credit young lawyer image by Alexey Stiop from Fotolia.com
