It might be hard to find a young adult in Illinois who is not carrying at least some student debt. Not only can these loans be tens or even hundreds of thousands of dollars, they are more difficult to pay back than most people realize -- especially when other debt is involved. Chapter 7 bankruptcy is generally a good option for people who have fallen behind on their bills and have no hope of catching up, but student loans usually cannot be discharged through this process. However, a judge recently decided to eliminate one man's student loan debt.
Buying a home is one of the biggest financial commitments a person will ever make. This is why the average buyer in Illinois dedicates a significant amount of time finding the best place possible. But even if the house has the right number of rooms, is in a good location and seems to be in great shape, things are not always as they appear. Having an independent home inspector check things out can be the difference between purchasing a dream home and a nightmare.
A home is much more than just a bit of property. Homeowners pour their time, effort and money into creating a loving and welcoming environment for their families. So when it comes time to sell, people can easily get caught up in their emotions. However, residential real estate law does not allow someone to refuse to sell his or her home for just any reason.
There are many different steps when it comes to buying a home or other piece of real estate, and at each step it is possible that something may go wrong. Problems with the title can be particularly upsetting. For example, title defects can make it difficult to establish legal ownership of a property.
The average landlord in Illinois already has a lot on his or her plate. Because of this, it can be very frustrating to deal with problems from tenants, such as frequently being late on rent. When these types of problems progress, it is sometimes necessary to move forward with eviction. Landlords must be aware of the proper procedure for doing so. Otherwise, they could unintentionally violate residential real estate law.
When you bought your house, maybe you were envisioning a long-term home where you would raise a family. Or perhaps you made the purchase as a financial investment. Regardless of your intentions, your house or property is probably one of your biggest assets, if not the biggest. It is essential that you protect that investment when dealing with commercial real estate actions in Illinois, such as taking your house to market.
Buying the perfect home can be a dream come true. Discovering there is something wrong with the house can quickly turn that dream into a nightmare. During the extensive home selling and buying process, sellers are responsible for disclosing defects to buyers. Failing to disclose those defects could give buyers the option to seek financial compensation. Illinois residents who discovered a defect after purchasing residential real estate should keep some of the following in mind.
Finding the right commercial space in an ideal location is an important part of owning a business in Illinois. However, securing that perfect space is often more complicated than it appears. Business owners need to understand how to negotiate a lease when dealing with commercial real estate in order to secure a favorable outcome.