Eli Shimony - Israeli law firm who represent on all civil/commercial legal issues in Israel.
For any questions please contact us and we will be happy to assist. Email: [email protected], Tel: +972-52-2769773, +972-3-5507155.
What is real estate law?
Real estate law is an extensive, complex and highly branched legal area that deals with all legal aspects of real estate property and rights in land. Therefore, it is crucially important to have a lawyer who knows the complex nature of Israeli real estate law. This field includes, among other things, dealing with real estate transactions such as combination transactions, clearing – building transactions, land contracts such as sale and lease contracts, registration of transactions in the Land Registration Bureau, land taxation issues, betterment charges, participation in land, dissolution in land, mortgages, preference rights, benefits, buyer groups and more.
Real estate laws actually form a branch within property law, which regulates the relationships between people with respect to resources and assets which satisfy human needs and desires, with the purpose of creating a correct allocation of those resources and properties in society. Alongside land properties, there are movable properties, intellectual properties, security properties etc.
The real estate law area is of a very high level of importance in individual and civilian life, since it is one of the most common and useful aspects of a person's life, since almost all people have to, at some point or another in their lives, take some action related to land, such as land lease or sale transactions, and sometimes even to take a loan guaranteed through a mortgage for this purpose. Naturally, the relatively immense scope of preparing such transactions also has many implications on the residential field specifically and the Israeli economy in general. These issues usually also affect foreign residents, Israelis residing abroad and international businessmen. A lawyer who is thoroughly familiar with Israeli law and acquainted with the relevant bodies and the real estate market in itself is not merely an advantage, but a basic condition for the success of any activity in Israel.
The functions of a real estate lawyer in Israel
A real estate agent in Israel deals with all legal aspects of real estate property and rights in land. Therefore, he must be familiar and possess thorough expertise in all of these aspects, and as part of this all matters related to the different real estate laws, both with regard to land legislation and case law on this matter. Therefore, in any case where a transaction or contract in these fields are near, it is recommended and even critical to do this with the close assistance of a lawyer specializing in real estate, due to the complexity of the matter and its diverse and significant future implication.
In this manner, for example, each real estate transaction has many aspects that are unique to it, in terms of law, taxation, economics and more. Each land transaction also has those characteristics that are specific to it and the unique risks entailed in it. Therefore, and in order to guarantee that the land transaction is lawfully executed while protecting the parties from all entailed risks and ensuring their rights inasmuch as possible, it is important and recommended to secure for its preparation the assistance of lawyers dealing in the field of real estate in Israel, who are skilled and experienced in land contracts and transactions.
A lawyer dealing in real estate in Israel guides all phases of the preparation of the real estate agreement, from the conclusion of the commercial negotiations between the parties through to the completion of the transaction and its registration in the Land Registry Bureau if necessary. The lawyer conducts the legal negotiations, deals with drafting the contract down to its minute details and ensures that it is legally signed. In addition, the lawyer guides the transaction on all matters related to the bureaucratic process entailed in land transactions, including with municipal authorities, land taxation authorities, the Israel Land Administration, mortgage banks and also assists in securing the approvals, exemptions and reliefs or benefits for his clients, as possible pursuant to the law.
As necessary, a lawyer who deals in real estate in Israel also deals with litigation cases discussed in courts in Israel which deal with land issues, and also represents his or her clients before judicial or other quasi-judicial instances, such as the Land Supervisor, arbitrations etc.
In this context it should be noted that a significant part of the professional negligence claims filed against lawyers deals with negligence in land transactions. Over the years, courts have been increasingly expanding the duties of care and trust of lawyers toward their clients. In this manner, for example, Civil Case (Haifa) 20881-06-09, Barak v. Reinfeld, was a claim filed by a couple of buyers against the lawyers representing them in the purchase of an apartment. The couple made it clear to the lawyer that they are interested in buying only if they are permitted building additions. A lawyer from the firm, following an inquiry with the Land Registration Bureau, prepared the sale agreement, and after receiving the building permit, the couple started executing the work. However, within a short period of time, the couple received an injunction, and were even sued by their neighbors for compensation and for the restoration of the previous condition of the apartment. The couple sued the law firm, since it did not ensure in advance that the building addition is approved by tenants. The court determined that at the very least, the lawyer had to warn the couple that the building addition is stipulated on their neighbors' approval. Accordingly, it was determined that since the lawyers failed to warn the couple, they violated the duty of care toward their clients, and were therefore made to compensate them at NIS 200,000.
Eli Shimony - Israeli law firm representing clients on all civil/commercial legal issues in Israel. For any questions please contact us and we will be happy to assist.
Email: [email protected], Tel: +972-52-2769773, +972-3-5507155.
The above article is a general information only and it is not intended to replace a legal advice.