In Illinois, real estate laws apply to residential and commercial properties. The laws define how sales transactions are conducted and identify any restrictions that apply. The same regulations apply to rental properties and other title transfers, too. Real estate law attorneys in Chicago help property owners and prospective buyers by explaining the laws.
Managing Real Estate Transactions
Real estate attorneys manage each side of a real estate transaction. The rights of all parties involved must be preserved. The attorney connects buyers with a title company and title insurance options. The wire transfer for the payment is reviewed by the attorney, too. All documents and deeds are prepared by the lawyer.
Transferring Ownership to Family Members
Property owners who need to transfer properties out of their estate must turn to real estate lawyers. The attorneys complete the transfer into the new owner’s name quickly. Any taxes that are required are paid by the new owner. The attorney also explains any further costs that apply.
Property Claims Management and Leasing
Property claims management and leasing are tasks that a real estate attorney manages, too. The attorney creates lease agreements for the rental property owners. The leases are ironclad and follow all current rental property laws. The attorney also helps the owner collect overdue rental payments and file motions through the court when necessary. Any tenants who produce property damage are held accountable through legal claims, too.
Settling Tenant Issues
Real estate attorneys help tenants who need legal assistance, too. The lawyers help tenants with the eviction process and ensure that the owner follows all laws. Tenants also approach lawyers when they have sustained losses. Any damage that was caused by the property owner is legally actionable if the tenant’s property was destroyed during the event.
In Illinois, real estate laws dictate how residential and commercial properties are sold. The laws also apply to rental properties and the procedures followed by landlords when renting to tenants. Attorneys review the laws and assist clients when legal claims are needed. Buyers or property owners who need help should contact real estate law attorneys in Chicago through Starr, Bejgiert, Zink & Rowells right now. Like us on Facebook.