Property ownership is the quintessential American dream and itâs often a smart investment decision, given that land typically rises in value. Yet, when you become a landowner, you are subject to a spectrum of obligations and liabilities. Itâs a good idea to consult a property lawyer near Wichita to help you sort through the regulations. Your property attorney can offer expert guidance on matters related to land use law , since a misstep in this area can easily depreciate your property.
A property attorney can also review property transaction agreements and identify ways in which you can minimize your taxes. For example, a property tax lawyer could help you defer your capital gain taxes by structuring the sale as a tax-deferred exchange. He or she can review your property tax bill and file an appeal if you might be paying too much. If you own distressed assets, itâs particularly important to work with a property attorney. He or she can manage issues such as restructuring, workouts, bankruptcy, and refinancing.