A Delay on Delay – What Would be the Compensation?
Representation in sale and lease and other real estate related issues, in cooperation with Israeli and other experts.
Our firm deals with any issue related to real estate. Included in such area are purchase, sale or lease of apartments, transfer of assets into trusts, sale or purchase of commercial assets (whether a specific asset or a whole commercial center), Tama 38 plan related issues, entrepreneurship of housing, hotels or other real estate project and real estate disputes.
Many disputes between lawyers and clients are related to the real estate field. This maybe due to the fact that many new and unexperienced lawyers enter the work market every year and the real estate field seem to be an easy field to enter the profession. The law in Israel does not require any experience or sufficient compulsory professional insurance in respect of damages which may result from a fault on the part of the lawyer and so many young lawyers offer to do the job for a competitive (or, in fact, too low) price so as to receive the work, but do not really have the backing (experience-wise or insurance-wise) of an experienced law firm. The professional negligence law suits are soon to follow…
Many are not aware of the fact that under Israeli law a term sheet of even a letter of intent may be deemed a real estate transaction. Thus, people sometime approach a lawyer only after such were signed and find themselves in a position where they have already obligated themselves to things they did not mean or that may have legal implication. Thus, it is important not to sign any document or pay any amount on account of a transaction until an experienced lawyer reviewed the transaction.