In Illinois, real estate laws cover a variety of circumstances, such as buying and selling real properties. Buying a home is an exciting event for families, but it includes some complexities that are difficult for some consumers. Residential Real Estate Lawyers in Chicago help property owners through several events pertaining to real properties.
Settling Property Disputes
Attorneys settle property disputes over new construction projects and property lines. Surveyors are often hired to define the property lines and determine which party has rights to the portion of the land in question. The disputes often concern constructing fences, retaining ways, and swimming pools.
Completing Real Estate Transactions
Real estate transactions require an attorney to review all documents and determine if all the laws were followed. Attorneys manage closings for real estate transactions, too. Title requirements are coordinated with a title company along with title insurance. The mortgage loan must be fair and reasonable without any predatory lending clauses or terms.
Creating a Binding Lease Agreement
A binding lease agreement is necessary for rental property owners. The terms must be defined clearly for the tenant and explain the responsibilities of both parties. Attorneys understand laws pertaining to renting properties, eviction processes, and managing disputes between the owner and their tenants. When creating the lease, the attorney helps the owner make choices about the property and expectations related to tenants.
Transferring Real Property to a Family Member
When property owners are diagnosed with progressive illnesses, it is necessary for them to get their affairs in order. Transferring properties earlier is a beneficial plan for protecting the assets. A real estate attorney assists in transferring ownership while the owner is still physically able to do so.
In Illinois, real estate laws apply to the purchase or sale of real properties. Property disputes are settled under the laws, too. Attorneys in the field help current owners and buyers understand how the laws affect them. The laws also apply to rental properties and leases created to protect the interests of both parties. Consumers who need assistance from Residential Real Estate Lawyers in Chicago can contact The law office of Starr Bejgiert Zink & Rowells right now.
