Land ownership is just one of the disputes resolved by Arsen Krekovic, real estate litigation lawyer for buyers and sellers in British Columbia. With the rise in the residential property values in the Vancouver area real estate market, it is advisable to consult at Hoogbruin & Company and benefit from professionals who know how to navigate the complex terrain of land ownership disputes and real estate law. Learn the main reasons for land ownership disputes here.
Why land ownership disputes are difficult
Land ownership disputes arise when two or more parties claim ownership of the same property, often underpinned due to its high value. Krekovic’s experience as a litigator means he provides personalized solutions to ensure that client dispute situations are dealt with promptly and fairly under BC real estate legislation.
“Knowledge of the current laws and bylaws surrounding land ownership in Vancouver is an invaluable asset in determining who owns a particular piece of property,” says Krekovic. “The ideal response saves time, money and certainly, sanity for all involved parties.”
This type of dispute can be complex and difficult to resolve in any region of the Lower Mainland of British Columbia. It is primarily due, as noted, to the high value of real estate in Vancouver, Canada, and this makes it significantly more contentious due to competing interests and unclear provincial laws.
How do land ownership disputes impact buyers and sellers of real estate property?
This simple financial and legal fact has far reaching impact into the reality of both buyers and sellers involved in both residential and commercial property transactions. They may encounter these significant difficulties:
- Delayed or Cancelled Transactions : A land ownership dispute can put the entire transaction on hold or lead to its cancellation. The uncertainty surrounding the property’s ownership can make it difficult to proceed with the sale or purchase.
- Legal Uncertainty : This type of dispute often involves complex legal issues, such as conflicting title claims, boundary disputes, or adverse possession claims. Navigating the legal complexities can be challenging for both buyers and sellers without proper legal representation.
- Financial Implications : Land ownership disputes can have financial implications for both parties. If a buyer has already made a deposit or paid for the property, recovering those funds may become complicated if the transaction falls through due to the dispute. For sellers, delays or cancellations can result in lost time, opportunity costs, and potential legal expenses.
- Property Valuation and Marketability: A property’s value and marketability can be affected with a land ownership dispute. Potential buyers may be hesitant to proceed with a purchase if there is uncertainty about the ownership and potential legal consequences. Sellers may struggle to find interested buyers or may need to lower the asking price due to the dispute.
- Emotional Stress and Strain: Not a purely legal aspect, but certainly one that will affect a client’s motivation as well as personal energy. Disputes can be emotionally draining for both buyers and sellers. The uncertainty, potential financial loss, and prolonged legal process can lead to significant stress, anxiety, and frustration for all parties involved.
- Lengthy Legal Proceedings: Resolution can be a lengthy and complex process. It may involve court proceedings, gathering evidence, and expert opinions. This can result in significant delays and costs for both buyers and sellers.
It is crucial for participants in the real estate market to seek the guidance of an experienced real estate lawyer who specializes in land ownership disputes. To read about the most common disputes, click here.
Each dispute is unique, and the specific challenges can vary depending on the details of the case. Consult with your local real estate lawyer and have support to navigate Vancouver’s legal landscape.
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info@hoogbruin.com
1166 Alberni Street Vancouver
604.305.0194