Although it took a lot longer than most experts expected, the U.S. housing market has experienced a slow and steady rebound in the wake of The Great Recession. As prices and purchases are finally on the rise nationwide, so are confidence levels, which are gradually returning to pre-recession levels.
But what about the commercial real estate market? How did it fare during in the worst economic downturn since the Great Depression?
When a loved one passes on, the last thing anyone wants to think about is money. Unfortunately, there really is no way around it. Arrangements must be made, bills paid, and assets divided up amongst those left behind. If the departed was prudent, he or she will have a will that spells out who gets what and when.
But, even if you bequeath every item you own, there’s always a chance that somebody will be offended that they didn’t receive what they thought they were owed. Here’s how to avoid that problematic scenario.
When facing legal matters, a lawyer can be a valuable ally. If you’re like most people and don’t have much legal background knowledge yourself, seeking advice and assistance from an experienced lawyer is critical.
Not all attorneys, however, are equally skilled or qualified to handle your case. And, even among those who are, not all will inspire confidence in an initial consultation. Remember that when you choose an attorney, you’re actually hiring someone to work for you, so think of the consultation like a job interview.
It’s pretty obvious that your business needs a name, a tax identification number, and a business bank account. These are no-brainers – you couldn’t get off the ground without them.
What might not be so obvious to you is that your business also needs an attorney who specializes in business law. We’ve noticed that many new start-ups seem to overlook this crucial step in starting a company, and we’re here to tell you why that’s a big mistake.
Real estate is real estate, right? You bought a house, and that’s exactly like buying a commercial building, right?
Though there are certainly many similarities between the two processes, there are some things you should know if you’re taking your first dive into commercial real estate.
I certainly understand why people put off planning their estates. It’s natural to feel an aversion to thinking and talking about what will happen after you’re gone. For many, it can be overwhelming and emotional.
None of these things, however, should stop you from doing it and making sure it’s done well. Whether you handle the documents on your own or hire an attorney, there are a few pitfalls you should be aware of before you start.
In re: Jeannine Victoria Heaver, No. 09-B-73096 (N.D. Ill. 2012), the U.S. Bankruptcy Court for the Northern District of Illinois held that a mortgage that is recorded before the deed to the mortgagor was recorded is outside the property’s chain of title.
In a recent decision by the U.S. Bankruptcy Court for the Central District of Illinois, the court held that mortgage documents are flawed when they fail to state the maturity date and interest rate of the loan, even though the underlying statute says that information “may” (not “shall”) be included in the contract.
A cautionary tale for home buyers who are seeking title insurance to protect themselves from potential third-party claims on the property.
Personal property exemptions and trusts. Public Act 97-1030 (Sandack, R-Lombard; Mathias, R-Buffalo Grove) exempts from judgment a revocable or irrevocable trust that names the wife or husband of the insured or which names child, parent, or other person dependent upon the insured as the primary beneficiary of the trust. Effective July 1, 2012.