Real estate disputes are inevitable and often unavoidable when your own, develop or occupy a property. These disputes occur for several reasons, like contract breaches, failure to meet obligations, etc. When a real estate dispute arises, parties must decide between two primary options: mediation vs. litigation.
Real Estate Disputes: Mediation vs. Litigation
Mediation involves a neutral third party facilitating communication, enabling the parties to reach a mutually acceptable agreement. The mediator helps the parties reach a mutual agreement rather than making decisions on their behalf.
As opposed to litigation, mediation is usually quicker and less expensive. It is a cooperative approach that gives parties a greater say over how they want to resolve the disagreement. It also preserves relationships between the disputing parties.
Litigation involves filing a lawsuit. The case is then presented to a jury or judge. This is a lengthy process, and it can result in definitive outcomes. Parties have lower control in litigation as the final decision lies with the judge or jury. Additionally, litigation is a public process, meaning the details of the dispute and resolution can become part of the public record.
Mediation vs. Litigation: Which is More Suitable for You?
When deciding between mediation and litigation for resolving a real estate dispute, parties should consider several factors. Firstly, the parties must consider the time and money. Litigation is more costly than mediation. Moreover, it also takes longer.
So, if the parties are not short on time and money, they can go for litigation. But, if time and budget are limited, mediation would be more suitable. Mediation costs are typically split between the parties, whereas litigation involves court fees and legal expenses.
Another factor to consider is control. Mediation offers more control with regard to the disputes’ outcome. In contrast, litigation gives the decision-making authority to the judge or jury. Mediation involves the parties working together to reach an agreement that both parties are satisfied with. In contrast, litigation is an argumentative process that can create a more contentious relationship between the parties.
The level of privacy required is also a factor that parties must consider. Parties who want their disputes to remain private should go for mediation. When you opt for mediation, the dispute doesn’t reach the public record. However, this is not the case with litigation, where disputes are a part of the public record.
Final Word
Are you searching for an estate law attorney Brooklyn to resolve property disputes? Ledwidge & Associates, P.C. can help! They have a team of expert attorneys with years of experience dealing with real estate disputes. Contact New York City probate law firm today or dial 718-276-6656 to learn more about their services.
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