TAX PRORATIONS IN A REAL ESTATE CLOSING: AN EXPLANATION BEHIND THE EQUATION. If you are buying or selling a house, one of the more complicated issues you may encounter is the real estate tax proration. Properties in Illinois are subject Read More….
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REO CLOSINGS: WHAT ARE THEY AND HOW DO THEY DIFER FROM A TYPICAL REAL ESTATE TRANSACTION?
REO CLOSINGS: WHAT ARE THEY AND HOW DO THEY DIFER FROM A TYPICAL REAL ESTATE TRANSACTION? If you plan to purchase real estate via an REO Closing, you should know what to expect and the differences between an REO Closing Read More….
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PERSONAL PROPERTY: YOUR OPTIONS IF IT’S STOLEN.
PERSONAL PROPERTY: YOUR OPTIONS IF IT’S STOLEN. Everyone owns personal property. Money, cars, electronics, furniture, animals, etc. Nearly everything except your house and the land that it’s built upon qualifies as personal property. Occasionally this personal property is stolen or Read More….
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SLANDER OF TITLE: POTENTIAL CONSEQUENCES OF RECORDING A FALSE DOCUMENT.
SLANDER OF TITLE: POTENTIAL CONSEQUENCES OF RECORDING A FALSE DOCUMENT. Illinois recognizes a cause of action if a document is falsely recorded against your real estate property’s title. This cause of action is referred to as “slander of title.” Depending Read More….
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Residential Real Property Disclosure Act
Residential Real Property Disclosure Act The Residential Real Property Disclosure Act (765 ILCS 77) was passed in 1998 to protect home buyers from sellers who falsely report conditions of their property during a real estate transaction. The disclosure act is Read More….
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Settlement Agreements: Mutual Verses Unilateral
Settlement Agreements: Mutual Verses Unilateral A settlement agreement, also called a release, is a binding contract that settles a lawsuit or potential lawsuit between two or more parties and stipulates that no lawsuit can be filed in the future. The Read More….
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Contract Basics and Disputes
Contract Basics and Disputes A contract is a legally binding agreement between two or more parties. A contract is formed when three conditions are met: An offer by one party An acceptance by the second party Consideration that is exchanged Read More….
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Landlord Leases: How to Protect Your Property and Finances
Landlord Leases: How to Protect Your Property and Finances Being a landlord includes many challenges. While facing those challenges, it is critical to protect your property and your finances. Bad tenants can result in damages to your property which will Read More….
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MyDec – Real Property Transfer Tax Declaration
MyDec – Real Property Transfer Tax Declaration: During any real estate transaction, a tax is imposed to transfer the title of real estate (35 ILCS 200/31-10). In order to facilitate this transaction, a real property transfer tax declaration must be Read More….
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SLANDER OF TITLE: YOUR PROPERTY’S TITLE HISTORY CAN BE PROTECTED.
SLANDER OF TITLE: YOUR PROPERTY’S TITLE HISTORY CAN BE PROTECTED. If you are an individual who owns real estate in Illinois, you should be aware of your property’s title history. The title history is a list of all documents recorded Read More….
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Personal Injury
You were injured in an auto accident; now what? As quarantine is coming to an end, the world is slowly returning to its pre-covid era, and people are beginning to travel once again; hooray! However, now that people are back Read More….
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Cannabis Law – Illinois
Illinois Cannabis Law Within the past several years, cannabis has been a hot-topic in the legal world. J. B Pritzker made it a cornerstone of his 2019 gubernatorial run to bring hemp and CBD production to the state of Illinois. Read More….
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Workers’ Rights in the Age of Covid-19
Workers’ Rights in the Age of Covid-19 As we progress through the unprecedented Covid-19 era, it is more important than ever that employees and employers know their rights in the workplace. Predominantly, Illinois employers are required to maintain a safe Read More….
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LIVING WILL VERSUS A LAST TESTAMENT AND WILL
Living Will verses a Last Testament and Will It is always important to have a will to make sure that your wishes are met in order to provide for your family and friends. There are two main types of wills Read More….
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PROPERTY OWNERSHIP: THE OPTIONS AND ASSOCIATED ADVANTAGES.
PROPERTY OWNERSHIP: THE OPTIONS AND ASSOCIATED ADVANTAGES. If you are an individual who owns real estate in Illinois, you may have questions about how your ownership is classified under Illinois law. Illinois has many categories of land ownership, and each Read More….
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DEEDS: DIFFERENT WAYS TO TRANSFER OR ACQUIRE REAL ESTATE.
DEEDS: DIFFERENT WAYS TO TRANSFER OR ACQUIRE REAL ESTATE. If you are buying or selling a home, the Deed is one of the most important documents. The Deed is the only document that actually transfers title to the property from Read More….
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