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....
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....
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....
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....
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....