ABSTRACT
Real Estate Transactions are an applied area of property law. Many people have a difficult time appreciating the role and function of the real estate attorney. Some see the real estate lawyer as a mere scrivener who writes down the deal on a form required for legal compliance. Some people think that the practice of real estate law does not involve theory and therefore is merely mechanical and ministerial. In fact, there is a theoretical framework for understanding real estate transactions as an applied praxis of property law. It involves knowledge of markets, risks, valuations, and strategies for fulfilling a client’s reasonable investment backed expectations in a transaction. A real estate transaction is property theory in action – it is legal knowledge pragmatically exercised in a market context, and it is from practice that one develops a pragmatic theory of law. At the same time, it must be acknowledged that in practice, experience ultimately intersects with theory, and this presents both a potential limitation and opportunity for our understanding of both.
Malloy, Robin Paul, The Praxis of Real Estate Law: More than Scriveners of the Deal (May 8, 2024) in Property Law and Theory (Christopher Bevan, ed).
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