Property disputes in North Dakota are pretty common. From property disputes upon death or separation, property lawyers Minot ND have dealt with a variety of property disputes. Since North Dakota is an equitable distribution state, it makes the property laws here different from federal laws and the practice of property lawyers in Minot unique from property lawyers from different States. In America, property laws are fundamental to the rights of Americans. It guarantees them rights such as freely enjoying their property without any disturbance, the right to not be trespassed, and many more. Property law firm Minot ND can help ensure these rights are available to you and also settle any dispute over any property, between your family, spouses, or any other third parties.
What is equitable distribution?
Equitable distribution of property is based on the idea that division of any item is done based on need, rather than want. Equitable is different from equal as equal division does not look at the preexisting financial scenario of any party. It focuses solely on the item at hand and divides it equally among the parties involved. Equitable however depends on which party could benefit the most from it and can help alleviate any hardship they are in. While equitable is not the same as equal, Courts in North Dakota have to begin the process by presuming that the property will be split equally between any two spouses contesting for a property during their separation. In such cases, the court will then proceed to investigate the circumstances of the spouses and then divide and award the property to the person that needs it more based on their situation post marriage. This allows for a free and fair evaluation of financial needs and wants, even if the division is unequal or unbalanced, in nature it is balanced, as the spouse that needs it more gets a bigger share and then both of them are on the same financial pedestal. It allows for the marriage to not leave either of them better or worse off than before.
What does Property Law Deal with?
Property law is a set of policies and rules that govern all disputes over property that is tangible and real. Intangible property rights are governed under the domain of intellectual property rights. These tangible properties can be land, building, jewelry. Some intangible properties are stocks or bonds. These are usually disputes between families and at the end of a marriage. It is in such situations that Property law and Property lawyers Minot ND get involved. In such situations, Property law firm Minot ND help in deciphering the allocation of the property, in determining the use of the property and how the property and wealth will be transferred, and what exactly will be transferred.
In a nutshell, property law mainly deals with the relationship between a person or persons in relation to a set of things or property. It dictates the rights, obligations, liabilities, and disabilities of people, businesses, or families in relation to their property.
Is it Necessary to hire or consult a Property lawyer in Minot North Dakota?
In short, yes it is. When buying or selling real estate, there are many things that the seller and buyer have to look out for. For example, most people hire real estate agents to sell or buy a house. They are prone to charging very high commissions citing reasons and logic beyond the basic understanding of an ordinary person. A lawyer can help break down the cost and figure out if such commission is unreasonable and negotiate a fairer price. Even if you hire an agent, only a property law firm Minot ND can prepare the required documents required to execute a legal sale.
A property lawyer helps navigate all the complexities related to the property and can ease the burden of dealing with any dispute or even a sale of the property. No clause is missed or misinterpreted, and you are educated enough to deal with the proceeds without any ambiguities. Property lawyers Minot ND have no personal stake in the dispute and are hired only to work in your best interest. At Ward K Johnson, licensed lawyers are equipped to represent your needs at the Federal and State courts. Contact us now to ensure efficiency and utmost care In executing your property needs.