5 Reasons Collectors Should Hire an Art Law Attorney
Gabrielle C. Wilson spoke to Artsy about the value of legal counsel to art collectors. Specifically, art collectors face risks relating to transfer of title that an art law attorney can work to mitigate. The article stated, "A basic tenet of U.S. property law—and one that distinguishes it from that of most countries in Europe—is that no one, not even a good-faith purchaser, can obtain a title on stolen property." The article further noted legal precautions, such as conducting a lien search and modifying purchase documents, to ensure title protection.
Gabrielle explained, "Collectors today need to be very sensitive to the possibility that an artwork or antiquity may be stolen or that an incomplete or suspicious ownership history may raise questions about the title to the work and most certainly affect the work’s value or marketability[.]"