Real Estate Dispute Resolution With The Aid Of Special Masters

Real Estate

Issues revolving around properties are always emotionally-charged and can easily become draining. However, by appointing special masters, the otherwise complicated process can be streamlined and made simpler.

In the current times, real estate disputes are more common than ever before, a trend that by all evaluations is not slowing down any soon. The truth is that everyone who has the legal entitlement to a piece of property always wants to have the full benefits they deserve and will not lie down if they feel underplayed. This has consequently led to lots of legal cases given the inherent nature of everyone to stand up for their rights when they feel they are about to lose on their investment or inheritance. Generally, these disputes are heavily contested with a lot of emotions involved in the process, and this can greatly affect the relationship between the involved parties. Even the toughest individuals who get caught up in these disputed always find it extra challenging to handle all the issues at hand while keeping a cool head.

There are lots of causes of real estate disputes between co-owners, making each case unique as there are distinctive aspects that have to be taken to account for a successful resolution. Typically, the first place that parties who have a conflict of interest on the sale, lease, or disposition of a property will rush to is a court of law. This is a practical step considering that real estate laws are clearly defined and provide a guideline that a jury can use to settle the case before them efficiently. However, court proceedings take a long time to complete, and during this period, it is easy for the property in question to be neglected. As such, without the right checks in place, the real estate can quickly lose its value, and by the end of the process have little value against the interest of the involved parties.

To avoid this unfortunate scenario, judges often appoint special masters who come in as a neutral third-party who can be trusted to adhere to the fiduciary standard of care. Unlike the typical real estate broker, a special master is ingrained to always act in fairness and always focuses on what is best for both parties. These professionals are, therefore, seasoned dispute-resolvers who are able to oversee lots of aspects of the litigation while collaborating with the court. While they are not as popular as real estate mediators and facilitators, special commissioners are on record for their innovative and practical approach to property dispute resolution. This makes them a unique breed of professionals who play a central role in lots of cases where property owners are unable to come to an agreement in the early stages of a resolution process. For the appointment of a special commissioner, the parties involved are expected to file a post-decree petition to the presiding court making official the request for these professionals.

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It is critical that as a party involved in the real estate dispute, you go to all lengths to identify the right team of professionals who will take this crucial role. If the right choice is not made by the court, it is vital to have in mind that the appointment can be appealed and the decision recanted. The good news is such situations can be avoided by taking the time to carefully analyze special commissioners in your region before making the request. A team that has the expertise to provide the desired assistance will have a deep understanding of the law, vast experience, and prove the capacity to maintain neutrality at all times. A real estate special commissioner is not only required for cases between co-investors but is equally vital for property issues in divorce cases. This is because of their know-how and ability to value, rehab, manage, and sell the property when needed.

A real estate special master has to maintain a delicate balancing act where they have to separately meet all parties involved in the dispute to determine their interests. At the same time, they have to adhere to the defined duties and responsibilities specified by the court that must include their authority, hierarchy of decision making, and rules for communication. Since the goal of hiring a special commissioner is to have a long-term solution, these specialists will have the duty of streamlining the challenging process by navigating tough terrains on behalf of both parties. Instead of letting the parties involved have to bear the burden of managing intensely personal matters, the specialists will take this responsibility and act impartially. All the roles of real estate special masters, in the end, make work easier for everyone right from the parties involved in the dispute to the jury handling the case. In the end, it is a win-win situation for everyone to have the services of a special commissioner when it is evident that there are lots of issues that will not be quickly resolved.