Cook County, IL real estate law is a very complex area that not all lawyers know about. Whether you are buying a home or trying to sell a land, or simply need to solve a problem of proximity, the assistance of an experienced River Grove real estate transaction lawyer is important to ensure that your interests are being protected.
At our River Grove offices we offer you a comprehensive Spanish speaking representation in real estate law. With more than 30 years of experience and practical and innovative solutions, we have successfully represented thousands of clients throughout Illinois.
Abogados Espanoles Illinois
When you hire our Hispanic real estate attorneys in River Grove IL, we do extensive analysis of your situation. Work together with you to know and understand your concerns so that we can present the options and / or alternatives available to you, always taking into account that our route is to obtain a positive result for you.
Best River Grove Hispanic Attorney
How Are Real Estate Attorneys Paid?
What is the difference between a mortgage and a deed of trust?
A mortgage is a document that encumbers real property as security for the payment of a debt or other obligation. The term "mortgage" refers to the document that creates the lien on real estate and is recorded in the local office of deed records to provide notice of the lien secured by the creditor. The creditor or lender, also called either mortgagee (in a mortgage) or beneficiary (in a deed of trust), is the owner of the debt or other obligation secured by the mortgage. The debtor or borrower, also called the mortgagor (in a mortgage) or obligor (in a deed of trust), is the person or entity who owes the debt or other obligation secured by the mortgage and owns the real property which is the subject of the loan.
In almost all cases, the law of the state in which the property is located dictates whether a mortgage or deed of trust can be used. Although a deed of trust securing real property under a debt serves the same purpose and performs the same function as a mortgage, there are technical and substantive differences between the two. A deed of trust is executed by the debtor and property owner, to a disinterested third person identified as a trustee, who holds the ownership of the property in trust for the creditor; whereas, when a mortgage is used, title to the collateral remains in the debtor, and the mortgage creates a lien on the real estate in favor of the creditor. In some jurisdictions, the deed of trust enables the trustee to obtain possession of the real property without a foreclosure and sale, while others treat a deed of trust just like a mortgage. In the latter jurisdictions, the deed of trust is governed by the law applicable to mortgages. The deed of trust requires the trustee to reconvey the property back to the debtor when the debt has been paid in full. Assignment of the creditor’s interest does not result in a change of trustee; instead, only the note or other evidence of debt is transferred and the new owner of the loan acquires the prior lender’s beneficial interest in the trust.
What is commercial financing in general?
Financing a property is the standard method by which individuals and businesses can purchase residential and commercial real estate without the need to pay the full price in cash up front from their own accounts at the time of the purchase. Financing for non-residential real estate is generally obtained from a bank, insurance company or other institutional lender to provide funds for the acquisition, development, and operation of a commercial real estate venture. Commercial financing loans are secured primarily by real estate and related assets owned by the debtor. Assets used to collateralize commercial finance loans, aside from the real estate, may include fixtures, equipment, bank and/or trade accounts, receivables, inventory, general intangibles, and supplies. Documents evidencing and securing the loan typically include: loan agreements, promissory notes, mortgages or deeds of trust, assignments of rents and leases, financing statements, environmental indemnity agreements, guaranties, subordination, non-disturbance and attornment agreements, estoppel certificates, and other ancillary documents.
How Much Are Real Estate Transaction Lawyer Fees
What Does A Real Estate Lawyer Do For The Seller?
At the Law Office, we are committed to providing solutions for individuals and businesses in all aspects of real estate and property law. You need an experienced real estate lawyer guiding you through the process to ensure your rights are fully protected.
Handling Residential & Commercial Real Estate Issues
Whether you are buying and selling real estate or need a skilled litigator to make sure your rights are protected, we can help you. We handle a wide variety of real estate law-related issues, including:
- Purchase Agreements
- Closing Representation
- Title and Title Insurance
- Boundary Disputes
- Construction & Mechanics Liens
- Landlord Tenant Disputes
- Breach of Contract
- Quiet Title Actions
- Insurance Issues
- Mortgage Foreclosures
- Land contract forfeiture
- Loan Modifications (Workouts)
- Short Sales
When it comes to real estate, the needs of businesses can vary quite drastically from the needs of individuals. Our attorney knows how to assist everyone from a first time home buyer to real estate developers to businesses looking for legal counsel. No matter what you need help with, you can count on us.
From the most basic issues, such as commercial leases, to complex real estate litigation, our experience means we can provide you with the guidance you need.
Real Estate Litigation: Too Much is at Stake
Real estate transactions commonly deal with large sums of money and can often involve your most valuable asset. Disputes involving real estate can quickly become emotionally charged and complicated. Whether your issue is with a contractor, buyer, neighbor or realtor, our experienced attorney is ready to provide you with the sound legal counsel and skilled representation you need to put it behind you. If a courtroom battle becomes necessary, we will aggressively protect your interests.
What Real Estate Lawyer Does?
There’s a ton of real estate intel on the interwebs. (Why, you’re looking at some of it right now!) But even if you consider yourself the most research-savvy digital consumer of all time, you may not know everything you need to make the wisest decisions when negotiating a real estate transaction.
Maybe you’re already familiar with real estate terms like “escrow” and “easement.” But we’re not just talking about a few words that test your real estate vocabulary. We’re talking about processing the bazillions of details you’ll deal with to buy or sell a home.
Here’s a quick list of things you may not already know that could put, or keep, money in your wallet while you’re in the real estate game.
Have you purchased a property before? Or are you a landlord that is sometimes stressed out with your tenants? Find out what are the things that you can possibly do.
The government has never been deaf to the needs of the tenants and even owners of some expensive properties in the State. That is why, the Real Estate Law has been implemented.
It is not a secret from us that the legalities involved in purchasing or renting a property is very complex. That is why many have not fought a good fight since they are not aware of their rights. Yes, it is a good idea that one must hire a lawyer for him to have a guide on what’s the best move in the issues about real estate. However, many real estate owners are not well aware of where and how they can find the best lawyer for them; while others are also afraid to entrust to a newly known lawyer the confidential matters regarding the property. Well, others have suggested that you can find one in the country law firms since they are expected that they can surely manage the case, given the experience and their membership in the firm. Thus, whether a lawyer is around or not, the real estate property owner must be aware of his rights and limitations. This means that he himself must also study the Real Estate Law. The usual problems that they are facing are focused on trespassing, frauds, foreclosures and many other legal issues.
El derecho de bienes raices es una area muy compleja que no todos los abogados conocen. Ya sea porque usted esta comprando una casa o tratando de vender un terreno, o simplemente necesita resolver un problema de colindancias, la asistencia de un abogado experimentado es importante para asegurar que sus intereses estan siendo protegidos.