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Common Legal Issues Regarding Commercial Real Estate Transactions

An investment in commercial real estate can be very lucrative and tempting, however, these transactions contain high risk due to the sheer amount of money at stake. In the US, around $76.58 billion worth of commercial buildings were constructed in 2016 alone. There are several legal issues involved in the sale or purchase of commercial property, which makes these transactions extremely complex and troublesome. Accurate Property Valuation The valuation of a commercial real estate property comes with unique challenges as there is no exact compari... Read more

Common Mistakes made by Parents during Child Custody Battles

Child custody is one of the most important issues that arise after a married couple decides to get a divorce. In most cases, both of the parents want to have the child live with them full time. There are thousands of couples who fight in a child custody battle every year in courts. The process is not only distressful for the child but also puts the child under immense pressure and suffering, Due to this dilemma, many couples try to work things out and do not opt for divorce. However, in some instances, it is almost impossible to live together, ... Read more

Estate Planning –Setting Your Affairs in Order

The average lifespan of a human being in the United States is around 78 years. Some die before they turn 78 while many are lucky enough to live longer. Preparing for an eventuality such as death is quite a practical and reasonable thing to do. While one may find it difficult to mentally prepare him/her self for his/her own demise, deciding what happens to your material belongings once you leave this mortal world is relatively easier. Across our lifetimes, we all collect and accumulate certain amount of assets and valuables which we will ultimat... Read more

Understanding Parenting Time

Divorce, often unavoidable, tears families apart. It takes the heaviest toll on the children involved as parents are engrossed in custody battles. During cases pertaining to child custody, the court decides who gains custody of the kids and defines parenting time, also referred to as visitation. Primarily, parenting time refers to the time the children can spend with the non-custodial parent. The courts go to great lengths to ensure that parenting time is in the child’s best interests. Under the law, courts can deny parenting time to a pa... Read more

What are Real Estate Disclosures?

Selling or even buying a property is not a straightforward task as it involves a plethora of legal and financial processes before the sale is completed. Real estate disclosures are one of the main prerequisites for selling your property. Essentially, real estate disclosure is a document which informs or reveals important information such as defects and faults to the potential buyer. This disclosure is intended to help the buyer make an informed decision and to avoid post-sale conflicts over defects in the property. As any real estate lawyer wou... Read more

What are Prenuptial Agreements and Do You Need One?

A prenuptial agreement is essentially a contract signed by a couple before their marriage. It serves to clarify the concerns regarding the ownership of their respective assets in case of a divorce. Although quite unromantic, people tend to opt for prenuptial agreements to protect their personal interests, particularly when they possess assets of considerable value. Opting for a prenuptial agreement may affect your relationship as it entails discussing the terms of divorce even before you are married. Many people refuse to discuss a prenuptial a... Read more

Illinois Real Estate Laws

Property and real estate laws typically concern things like landlord-tenant relations, homestead protection from creditors, and related matters. Laws regulating the rental market protect both landlords and tenants. In Illinois, for example, landlords must return a tenant’s security deposit within 30 days of the termination of the lease but the state doesn’t limit the amount landlords may charge for a deposit. Illinois’ homestead protection law allows an individual to claim a portion of his or her property as off-limits to cred... Read more

Establishing Paternity in Illinois

In this article, we shall summarize the laws pertaining to establishing paternity in the state of Illinois. Every state has its own set of family laws, which are generally identical but in some cases have glaring differences. According to Illinois state law, paternity can be established through any of the 3 methods listed below. Voluntary Acknowledgement of Parentage (VAP): This is the most commonly used method, and the simplest, where parentage is established by mutual consent between both parents. Litigation: In cases where parents are unabl... Read more

No Fault Divorce –Dissolve Your Marriage with Integrity

Stuck in a relationship where you have irreconcilable differences with your spouse? And you wish to end your relationship without having to air your dirty laundry in public and squandering your money on an expensive divorce lawyer? File for a divorce or dissolution of marriage in a no-fault state. After the ratification of the amended Illinois Marriage Act, estranged couples can file for divorce or dissolution of marriage in discreet and private manner. Under the new family law, the state does require the spouse filing for divorce to prove any ... Read more

Replacement of HVAC Systems in Commercial Leases: Who Bears the Costs?

Commercial leases come with several terms, conditions and legal clauses that impact the property owner as well as the tenant with what may be involved, how the lease functions and what is paid. Typically, the lease specifics cover who pays for what service or commodity, the repairs and maintenance that need to be paid for and other relevant issues. This eventually determines whether the costs are shared between the tenant and the landlord or one party bears all the expenses. One must consult a real estate lawyer in case a conflict arises. The H... Read more