Northern Illinois Criminal Defense And Real Estate Law Blog

Disclosing defects is a necessary part of selling a commercial property. However, some sellers may be hesitant about doing so out of fear that it will scare away potential buyers. It can be tempting to withhold information, but this may lead to more significant consequences in the future. Here are some things to remember about disclosing defects when selling commercial real estate.

Illinois sellers are obligated to disclose both material defects and potential problems if they could possibly affect a property's value. Sellers cannot purposely hide significant defects, either. Disclosing previous defects that have since been corrected may also be a good idea, although this depends on how serious past problems were.

An Illinois woman was recently arrested following a single-vehicle accident in which no one was injured. Police believe that she was under the influence of alcohol at the time of the wreck. She is facing multiple criminal charges, including aggravated DUI and one count for endangering a child's life. She is also charged with a second DUI for having a BAC higher than 08%.

Police claim that on the morning of June 4, 2020, the 37-year-old woman was intoxicated while behind the wheel of her vehicle. There was a 4-year-old child who was also in the vehicle at the time, but he or she was the woman's only passenger. It is not clear whether there is a familial relationship between the two.

One of the biggest concerns of people who are contemplating bankruptcy is whether they will lose their retirement savings. The good news is most 401(k)s, IRAs, and other retirement plans are exempt from creditors. This means your retirement accounts are likely protected while you get the debt relief help you need. However, if you touch your retirement investments at any point, their exemption status may change. You should take steps to ensure you don’t jeopardize your savings.

Illinois consumers use credit cards for all kinds of reasons. Some prefer to keep one on hand in case of emergencies while others use them to fund large purchases. But even the most focused consumer can easily find him or herself buried underneath a mountain of credit card debt.

Interest is one of the biggest barriers to getting those credit card balances down to zero, but it is not the only factor at play. Minimum payments also help keep consumers trapped in what seems like a never-ending cycle. Making only the minimum monthly payments means that a person is not only taking longer to pay off his or her balance, but is also paying a lot more interest over time.