Real Estate Industry Jobs For Lawyers

The three previous categories of non-legal work in business and industry, now frequently performed by legally trained persons, may vary somewhat from corporation to corporation, but the same basic operation will be common to all. In the real estate area, however, functions may vary widely according to the nature of the company's business. Detailed description of all the various activities that might be performed would result in a volume several times the size of this one. Rather, a review of some of the more common aspects of this activity should set your imagination working regarding other interesting possibilities.

Petroleum and gas producers, wood products and paper producers, and all types of mining operations are examples of types of industries that rely on control through lease or purchase of substantial tracts of real estate to produce the natural resources upon which the industry is based. Once a company has decided on the parcels it wishes to acquire, individuals, usually lawyers, are sent out to directly negotiate with property owners for the purchase or leasing of the property. These positions, known variously as land representatives, lease agents, or similar titles, are often entry level positions.

These individuals negotiate and renegotiate such agreements as leases, options and realty contracts covering such activities as exploration, drilling and producing activities and work out royalty payments with the land owners. Obviously, as the holdings desired increase in size and value, senior members of the real estate office with in-depth experience in this work will also be involved.

One of the important functions of a real estate department involves condemnations and other public takings in which the department will be involved in negotiations with public officials and working with the law department and outside counsel.

Backing up this activity will be a leasing department which directs the entire operation including studying the leases bought and prices paid, plus negotiating with competing companies in order to determine the expenditure necessary to obtain leases and other contracts in the desired areas. Final decisions will be made on all agreements and contracts for purchase, sale and acquisition of land leases in mineral and royalty rights, plus the determination and specifics of the date of termination of lease rentals.

Following up on this activity will be the department that supervises the payments on and fulfillment terms of leases and contracts, the maintenance of files and records and the preparation of reports on subjects such as lease expiration dates, disposition of lease purchases, and rentals due. Making sure of a clear title may be required in any of these areas. Somewhat similar activities must also be undertaken by pipeline companies and utilities in bringing their products to market.

All of the business concerns just mentioned, plus almost every other industry, will have real estate people who are responsible for the administration of corporate and divisional land usage. This can involve the acquisition of land sites for new buildings, purchasing land parcels adjacent to plants, community protection, disposing of surplus land and arranging for short and long-term leases. This activity may even include the accumulation of data involved in site selection. During construction, right-of-way for utility lines and pipe lines may be necessary. The roads, bridges, and utility systems that must be maintained during that time will have to be determined and negotiations undertaken for access routes and restoration of roads and surfaces.

In all these areas there is a high degree of utilization of that part of the training of the law student in the art of assembling and analyzing facts. Furthermore, the better than average aptitude of those who decide on the law as a career for negotiation is important in real estate activities.

For corporations with substantial real estate activity, it is not at all unusual for the senior members of the department to be required to be lawyers in order that they may undertake the drafting of leases and contracts, lease amendments and modification agreements and subleases. Often they may be required to furnish opinions regarding what legal steps, if any, are to be taken on such matters as zoning, variations from restrictions imposed by various governmental authorities, law suits, etc. They may also be involved in hearings before planning boards, city and town councils, zoning boards and boards of appeals to obtain approvals for various matters requiring special handling. Corporations with lesser activity in the real estate area usually find that this activity can comfortably be handled within the legal department.

Merchandising concerns and those industries that market their products directly to the public, plus franchising organizations, may be involved in the purchase or leasing of shopping center facilities or retail outlets and the disposal of obsolete or unprofitable units.

In some industries with extensive dealerships, buy-outs and take-overs of dealer property is a specialized activity which involves agreements to sell and purchase, leases, sale contracts, releases, stock certificates, exchanges, inventory agreements and settlements. Because of the individuality of these arrangements, most of the documents must be specially prepared and tailored to cover the particular situation.

One corporate activity that is extremely difficult to classify is the responsibility for the insurance of the real property assets which it holds against loss and damage. Classification is less important, however, than the company's very real need to develop, monitor and maintain the appropriate and vital coverage.

Banks and other financial institutions are involved in loan programs covering everything from modest single family dwellings to huge real estate development projects. Some financial institutions and insurance companies are heavily involved in real estate investment programs. Independent real estate development projects may be of substantial size. These projects not only involve the original development, but may involve sales and leasing for occupancy. The nature of the work in all of these areas is such that lawyer skills are increasingly proving to be advantageous to effective job performance.

An important function which those with legal training can play in banks and other financial institutions is the reading, analysis, commenting on, on occasion, and assisting in the observance of a myriad of federal and state rules and regulations. Quite usually, the responsibility for keeping track of such rules and regulations is assigned to those with legal training, who may also have responsibility for seeing that the rules and regulations are understood and adhered to.

Substantially different from the real estate activities of most corporations and financial institutions is the title insurance company which uses large numbers of lawyers in all phases of its operation such as title examination and the issuance of policies. In contrast to these numbers, there are only a few lawyers who have found a happy niche handling the real estate news in newspapers and magazines, as well as in business publications.

To check out what options that a lawyer has in the real estate field, go to https://www.lawcrossing.com/jobs/pa-real-estate-jt-attorney-jobs.html