Real property includes land, both residential and commercial, and improvements to land such as roads and buildings. Real property disputes are particularly complex when they involve more than two parties, as is often the case.
Examples of real property disputes include disputes between:
- The buyer and seller of residential or commercial property over a failed deal
- Homeowner associations and their members over administration of the association
- A broker and his client over whether he rendered services adequately and performed all of his duties as an agent
- Development companies and clients over contracts for the construction of a building
- Adjoining property owners over boundary lines, easements, or property use
- Commercial property owners and local government agencies over zoning and land use issues
- Those who share ownership in real property over whether to partition (split up) or retain the property
- Real property owners and government authorities who wish to initiate eminent domain or condemnation proceedings
- Real property owners and title holders such as mortgage companies over debts owed
- Contractors and subcontractors over the manner and timing of the building process
Real property lawsuits may seek financial compensation for damages arising out of unlawful behavior, or they may seek injunctive relief. Injunctive relief permits the court to order the defendant to do something other than pay money, such as signing over property, repairing a defective condition, or refraining from interfering with another property owner’s rights.
Declaratory relief is also available in some real estate disputes, where the court can render a decision regarding the rights, duties, or obligations of the parties without ordering them to perform an act or pay damages.
David A. Axelrod & Associates: Proven Results in Real Property Disputes
David A. Axelrod & Associates has successfully represented clients in real property disputes. In one such case, David A. Axelrod & Associates earned over $5.6 million through arbitration in a complicated real property and fraud case in which the client was a co-investor in a condominium conversion project who was squeezed out by another investor.
In another case, David A. Axelrod & Associates recovered over $1.1 million for a mortgage banking company who had been fraudulently induced by a large finance company to issue mortgage loans against what turned out to be worthless property.
David A. Axelrod & Associates also won a verdict for over $1 million from a Chicago real estate broker and investor who cheated his client out of real property and personal wealth. The broker was found to have defrauded the client as well as breached his fiduciary duties, causing the judge to assess punitive damages as part of the award.