If you're an art collector, now's the time to hire a lawyer. If you're like most people, you might think that art lawyers only represent artists. That's not the case. Art lawyers also represent collectors. If you're not sure you need an art lawyer, read the list provided below. Here are four reasons to get legal representation for your art collection.
Avoid Transfer Mistakes
When you invest in art, you need to know that the transfer is complete. Buying art involves the transfer of property. Because of that, you need to know that there are no mistakes that could cause problems for you later. That's where an art lawyer becomes beneficial. If you want to buy a rare work of art, you need to know that you're buying from the legal owner.
This is especially important where antiquities are concerned. Without legal help, you could buy a piece of art that's stolen. An art lawyer will make sure that the piece of art isn't stolen. They'll also make sure that the transfer gets completed properly.
Preserve Your Estate
If you're adding art to your estate plan, now's the time to hire an art lawyer. You can turn art into a vital part of your investment portfolio. Eventually, that portfolio will pass to your beneficiaries. Make sure your estate is protected. Work with an art lawyer. Trusts and legacy foundations are a couple of ways to protect your art. An attorney can help set those up for you.
Now that you're investing in art, you want to know that you're not buying fakes. Unfortunately, that can be difficult to do, especially if you're untrained. One way to avoid a scam is to hire an art lawyer. An art lawyer can help in a couple of ways. First, your lawyer can arrange for an art appraisal. That process can help identify issues with authenticity. Your art lawyer can also arrange for warranty protection. Warranty protection ensures you get your money back if your art is found to be fake during the warranty period.
If you want to share your art with the world, work with an art attorney. Many collectors loan their artwork to museums and galleries. If you want to do that, you'll need to start with a contract. Contracts ensure that your art gets protection during the loan period. An art attorney will make sure that the details of the loan are included in the contract. Some details include transportation and security for the artwork.
Consult an art lawyer to learn more.