Making The Deal Count

3 Scenarios When You Need The Professional Intervention Of Business Lawyers

21 October 2021

Trix Van Zee

If you are a real estate investor, you should spare no expense in securing your money and your properties because they are what keep your business afloat. And that's why it's crucial that you hire business lawyers who can protect you from making decisions that are detrimental to your investment portfolio.

You likely already know that each time you're venturing into new markets, you are risking your other investments as much as you're setting up your business for greater success. Hiring business attorneys ensures that you have professional advice on how to lower the risks and boost your business' revenue. Continue reading to learn three instances when it's essential to have business lawyers by your side.

When You Need to Protecting Your Assets

As an investor, your business would virtually be non-existent if not for the assets you've accumulated. For this reason, you need to protect them to guarantee the continuity of your business. You should consult with your lawyer to find out how you can secure your assets from any unforeseeable outcomes. You should also involve them each time you're acquiring new assets to ensure you conduct legal transactions that guarantee you'll have full ownership.

And in case you're looking to partner with other investors, your attorney will help you vet potential partners to determine who qualifies. Taking the necessary precautions before getting into business with anyone protects you from criminal or malicious partnerships that might cause you great financial loss or tarnish your reputation.

When You're Forming Now Contracts or Maintaining Old Ones

Drawing up contracts is a big part of investing because you'll be doing a lot of transactions with different parties. Whether you're drawing up contracts for your tenants or reviewing terms and conditions for purchasing a new property, ensure your lawyer is in the room.

The professional will go through every agreement with a fine-toothed comb to ensure all the terms are aligned with your interests. This way, you don't end up with contract clauses that could potentially come back to bite you.

When Addressing Taxation Issues

The biggest mistake many real estate investors do is commit tax fraud with the hopes that they can hide the crimes. You're better off paying all your taxes on time and operating your business with peace of mind, knowing that the IRS would not find you non-compliant. Engaging a business attorney when you have taxation issues enables you to promptly solve them so you can resume legal business operations. And since tax compliance can be complicated sometimes, it helps to have a professional help you navigate the processes.

If any of these scenarios ring a bell, this is your cue to hire business attorneys. 

Share

Search