In Illinois, real estate is a major investment for all consumers and is protected under specific laws. The laws protect consumers when they are buying a new home or rental property. The same protection applies when consumers choose to rent out the property. Local real estate law firms in Chicago provide assistance for matters related to real estate.
Manage Real Estate Transactions
The attorneys manage a real estate transaction from start to finish. All titling is managed through a title company that is associated with the law firm. The attorneys review all documents connected to the transaction and determine if the interests of all parties are protected.
Transferring Ownership to an Heir Earlier
Some estate owners approach real estate lawyers to transfer real estate to their heirs at an earlier time. The purpose for the early transfers is to lower the impact of inheritance taxes. In some cases, the estate owners transfer ownership to prevent a nursing home facility from seizing the property as payment.
Creating a Lease Purchase
A lease purchase requires the buyer to provide a down payment to the seller and to pay rent for at least one year. The transactions allow the buyers to purchase the property by submitting the rental payments instead of securing a mortgage from a lender. A lease purchase is a viable solution for consumers who want to purchase a home but have less than stellar credit.
Lease Agreements and Dispute Management
Lease agreements are designed to protect the interest of both parties. It is to explain the rights of tenants and property owners when the lease is established. Each party must abide by the terms of the lease or a dispute is filed. Real estate attorneys manage disputes related to rental properties.
In Illinois, real estate investments are protected under the law. The local laws protect the consumer, whether they are purchasing the real estate or offering it for rent. The laws enable attorneys to manage disputes and mitigate common risks. An attorney can also transfer ownership effectively for estate owners. Consumers who need the assistance of real estate law firms in Chicago can contact Starr, Bejgiert, Zink & Rowells for more info now. Like us on Facebook.