While businesses are still grappling with working from home policies for their employees, more and more companies are realizing the benefits of a physical location to meet the needs of their customers and employees. In that regard, when an owner/tenant is reviewing...
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Real Estate
Selling Residential Real Estate Requires Full Disclosure of Specific Defects
Pursuant to the Illinois Residential Real Property Disclosure Act, 765 ILCS 77/1, the Seller is required to disclose whether it has any knowledge of any defective issues in 23 different construction items (“Items”). This Disclosure must be provided before the closing...
PARTITION OF REAL ESTATE IS AN OPTION WHEN PEOPLE DO NOT HAVE A WRITTEN AGREEMENT TO DEAL WITH PROPERTY ISSUES
When people own real property with no written agreement, the individuals will need to resolve any issues by agreement or filing a partition claim. If by agreement, then no court intervention is required. There are several types of documents that can memorialize the...
When Buying Property, Always Perform Your Own Document and Physical Inspection
As a follow-up from a recently published Chicago Tribne article, in which Corey B. Stern was quoted as saying: • "The agent may not lie, but they might not tell you the whole truth," said Corey B. Stern, a partner in the Lisle-based real estate law firm of [nap_names...
