A contractor who doesn’t get paid for doing work on someone’s home or real estate property has a useful method of enforcing his or her collection rights – the filing and prosecuting of a mechanics lien against that real estate property. Mechanics liens are products of state law and, in Illinois, are authorized and governed… Read more »
Posts Categorized: #ErwinLawAnswers
The recently-enacted tax law changes are substantial, and are already greatly affecting all areas of industry, real estate included.
Whether foreign citizens are buying and selling pied-a-terres, vacation or second, even third homes here in the States, they are, quite clearly, a highly valuable target segment in the luxury home market.
To the unfamiliar, a Chapter 13 plan is a cumbersome document that could negatively impact one’s rights. A Chapter 13 plan must treat all of a debtor’s creditors, both secured and unsecured. Treatment, however, does not necessarily mean full payment.
Some commission structures are simple and straightforward. Others, such as continuing commissions on a commercial lease, can be more complicated. But one thing they all have in common – they must be properly written and executed in order to be enforceable.
Real estate investors and developers are often well versed in assessing properties, analyzing cap rates, zoning issues, property tax concerns and other matters related to real estate due diligence. Yet they often overlook, or give little importance to, the structure of their business and the framework they establish for the ownership of the properties they… Read more »
We reviewed the matter, and are featured in the ‘Legal Updates’ section of the CAI webpage: http://www.cai-illinois.org/association-disclosures-section-22-1-illinois-condominium-property-act/
How to affect a smooth transition.