Minneapolis newspapers often feature stories about criminal matters involving fraud. Fraud occurs when a person intentionally induces another to do something that causes the actor to suffer harm. Fraud often happens in situations where the victim incurs financial hardship and the perpetrator seeks to monetarily benefit from the other’s loss.
It is a sad fact that fraud also happens in the real estate world. Real estate fraud can take on many forms, whether in sales agreements, lease agreements or other real estate transactions. It is not contained within the exclusive domain of residential real estate and can offer rear its head in the commercial real estate world as well.
Committing fraud is different than making a legitimate mistake. Erring over a detail in a purchase agreement may not be fraud if it is an accident and fixable, misrepresenting one’s right to sell a property or falsifying records to conceal zoning issues may be examples of real estate fraud. Attorneys who work in the real property field can advise their clients on whether they may be victims of real estate fraud as well as ways of addressing the fraud if it does happen.
The attorneys of Burns & Hansen hope that the readers of their legal blog never discover that they have been made victims of real estate fraud. Aside from the financial losses that they may suffer, victims of real estate fraud can feel as though their confidences have been betrayed and that they have been targeted by unscrupulous individuals. While every case of real estate fraud is different, many can be successfully handled through litigation that can assist victims with recovering their losses. The law firm of Burns & Hansen is ready to speak with new and existing clients about their potential real estate fraud claims.