Contingency Contract In Real Estate In Dallas

• Category: Attorneys - Fee Agreements
• State: Multi-State
• County: Dallas
• Control #: US-00442BG
• Format: Word; Rich Text

Description

The Contingency Contract in Real Estate in Dallas outlines an agreement between a client and attorneys for the prosecution of a claim, detailing how attorney fees are calculated based on the success of a claim. It stipulates that attorneys are compensated through a percentage of any net recovery from the claim, with different rates for settlements versus trial outcomes. The agreement also addresses costs and expenses that may be incurred, which are to be paid by the client on a designated basis. Additionally, it grants attorneys a lien on any recovery, allowing them to collect fees before the client receives their share. The document allows for the employment of expert witnesses and associate counsel at the attorneys' discretion, cost provisions for which are also borne by the client. Importantly, this contract ensures attorneys maintain a right to compensation even if the client discharges them before resolution. The form is crucial for attorneys, partners, owners, associates, paralegals, and legal assistants involved in real estate as it provides a clear framework for attorney-client relationships, fee arrangements, and responsibilities tied to claims, ensuring all parties understand their rights and obligations.