When you sell or purchase a home, your realtor will usually present you with a widely used form contract. The realtor will have the ability to customize that form to fit your needs. The contract will typically provide that each party's attorney will have 5 business days to (1) approve the contract; (2) reject the contract; or (3) negotiate modifications to the contract.
During this 5 day period, the contract is contingent upon attorney approval. If your attorney fails to reject or seek to modify the contract within the 5 day period, the contract will automatically be binding upon you after the 5 day period expires.
April 12, 2024
In order to transfer an ownership interest in a piece of real property, the grantor will need to execute a deed. There are several types of deeds that can be used in Illinois. The most frequent deed that is used is a Quit Claim Deed.
April 4, 2024
Tenancy at sufferance occurs when a tenant stays in a rental property without the landlord’s permission after their lease has expired. This precarious legal state, neither full tenancy nor outright trespassing, presents a myriad of challenges and questions for both landlords and tenants. Our comprehensive guide demystifies this complex situation, explaining the legalities, financial implications, and strategies for resolution. We’ll delve into the definition, handling, and preventative measures of “tenancy at sufferance - what is it?” to arm you with the knowledge needed to navigate these murky waters.
March 4, 2024
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