Essential Legal News: Eviction Moratorium Lawsuit Against Governor Pritzker
Governor Pritzker’s COVID-19 response plan is once again under fire. This time it is landlords suing him over the eviction moratorium issued in Executive Order 2020-30. The moratorium prevents landlords from filing evictions for nonpayment of rent. This means that even if someone is able to pay their rent and choose not to, a lawsuit cannot be brought against them until the expiration of the Order.
Essential Legal News: COVID-19 Eviction Policy in Illinois
New laws, orders, and regulations have been issued that amend the terms of the landlord-tenant relationship. This includes a broad reaching eviction moratorium instituted by Governor Pritzker. There are now new rights and responsibilities for landlords and tenants. In addition, the court closures have exacerbated many problems that have arisen during the public health crisis. Read about the federal, state, and city response and how eviction proceedings have been modified.
Essential Real Estate Law: Sealing Orders
A sealing order is a judicial order that removes a court file from the public record. This means that when a member of the general public searches for that specific court case through public channels, it will not appear. Unlike an expungement from a criminal record, a sealing order does not eliminate a court file from an individual's record. It simply makes that particular court file inaccessible to the public.
Essential Real Estate Law: Types of Entities for Investors
Essential Startup Law: Protecting your Intellectual Property
One of the biggest mistakes that entrepreneurs can make when they are first getting started is not protecting their intellectual property right from the beginning. There are many valid reasons for this: it’s not legally required, it can drive up initial costs, doing it correctly can be very complicated, and entrepreneur’s often do not foresee these issues. When we help startups build successful brands and companies, we make sure all of their intellectual property needs are met right away. Here are 5 tips that will ensure that you are setting your company up for long-term success.
Essential Real Estate Law: Property Tax Proration & Real Estate Closings
In the City of Chicago, property taxes are paid in arrears. This means that property tax amounts are due the year after the tax year has passed. When a Buyer and Seller are working on their property sale, the property tax proration is a negotiated term. Because taxes are paid in arrears, the parties will not yet have received the property tax bill for the current year by the time of the closing. With each subsequent year, taxes go up. For this reason, the seller will usually pay 105+% of the previous year’s tax bill.
Essential Real Estate Law: Real Estate Closings & Title
When purchasing property, there are a few ways that a new owner can “take” title. There are three ways that the State of Illinois allows multiple property owners such as family members or business partners to hold title. 1) tenants in common, 2) joint tenants with right of survivorship, or 3) tenants by the entirety. Typically, new owners can choose which way to hold title and this can be changed in the future. It is important for Buyers to understand the different ways title can be held as it may affect the rights of creditors or the transfer of the property after an owner’s death.
In addition, there are different types of deeds that can be used to transfer title. There are four main types: General Warranty Deed, Special Warranty Deed, Bargain and Sale Deed, and a Quitclaim Deed. We will cover these types of deeds below after the types of title.
