Peoria Real Estate Lawyer, Illinois, page 5


Michael R. Seghetti

Real Estate, State and Local, Government, Corporate
Status:  In Good Standing           Licensed:  38 Years

Brae Bonnea Lauterbach

Corporate, Estate Planning, Real Estate, Business
Status:  Inactive           Licensed:  13 Years

Brae Lauterbach

Corporate, Estate Planning, Real Estate, Business
Status:  Inactive           Licensed:  13 Years

Troy Nickolas Pudik

Real Estate, Intellectual Property, Corporate, Business Organization
Status:  In Good Standing           Licensed:  31 Years

James W. Benckendorf

Real Estate, Wills & Probate, Trusts, Estate Planning
Status:  In Good Standing           Licensed:  36 Years

James M. Voelker

Real Estate, Trusts, Elder Law, Wills & Probate
Status:  In Good Standing           Licensed:  38 Years

Corinne Martin

Administrative Law, Federal Appellate Practice, Construction, Environmental Law Other
Status:  In Good Standing           Licensed:  16 Years

Dean R. Essig

Real Estate, Estate Planning, Family Law, Personal Injury
Status:  In Good Standing           Licensed:  51 Years

Michael Paul Vespa

Landlord-Tenant, Litigation, Civil Rights, Personal Injury
Status:  In Good Standing           Licensed:  16 Years

Katherine Annette Thornton

Real Estate, Personal Injury, Family Law, Trusts
Status:  In Good Standing           Licensed:  34 Years

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LEGAL TERMS

UNCLEAN HANDS

A legal doctrine that prevents a plaintiff who has acted unethically in relation to a lawsuit from winning the suit or from recovering as much money as she woul... (more...)
A legal doctrine that prevents a plaintiff who has acted unethically in relation to a lawsuit from winning the suit or from recovering as much money as she would have if she had behaved honorably. For example, if a contractor is suing a homeowner to recover the price of work he did on the home, his failure to perform the work as specified would leave him with unclean hands.

LIQUID ASSETS

Business property that can be quickly and easily converted into cash, such as stock, bank accounts and accounts receivable.

LEASE OPTION

A contract in which an owner leases her house (usually for one to five years) to a tenant for a specific monthly rent, and which gives the tenant the right to b... (more...)
A contract in which an owner leases her house (usually for one to five years) to a tenant for a specific monthly rent, and which gives the tenant the right to buy the house at the end of the lease period for a price established in advance. A lease option is often a good arrangement for a potential home buyer because it lets him move into a house he may buy without having to come up with a down payment or financing at that time.

ESTATE

Generally, all the property you own when you die.

VIEW ORDINANCE

A law adopted by some cities or towns with desirable vistas -- such as those in the mountains or overlooking the ocean -- that protects a property owner from ha... (more...)
A law adopted by some cities or towns with desirable vistas -- such as those in the mountains or overlooking the ocean -- that protects a property owner from having his or her view obstructed by growing trees. View ordinances don't cover buildings or other structures that may block views.

TESTAMENTARY DISPOSITION

Leaving property in a will.

HOLD HARMLESS

In a contract, a promise by one party not to hold the other party responsible if the other party carries out the contract in a way that causes damage to the fir... (more...)
In a contract, a promise by one party not to hold the other party responsible if the other party carries out the contract in a way that causes damage to the first party. For example, many leases include a hold harmless clause in which the tenant agrees not to sue the landlord if the tenant is injured due to the landlord's failure to maintain the premises. In most states, these clauses are illegal in residential tenancies, but may be upheld in commercial settings.

AGREEMENT

A meeting of the minds. An agreement is made when two people reach an understanding about a particular issue, including their obligations, duties and rights. Wh... (more...)
A meeting of the minds. An agreement is made when two people reach an understanding about a particular issue, including their obligations, duties and rights. While agreement is sometimes used to mean contract -- a legally binding oral or written agreement -- it is actually a broader term, including understandings that might not rise to the level of a legally binding contract.

NET LEASE

A commercial real estate lease in which the tenant regularly pays not only for the space (as he does with a gross lease) but for a portion of the landlord's ope... (more...)
A commercial real estate lease in which the tenant regularly pays not only for the space (as he does with a gross lease) but for a portion of the landlord's operating costs as well. When all three of the usual costs--taxes, maintenance and insurance--are passed on, the arrangement is known as a 'triple net lease.' Because these costs are variable and almost never decrease, a net lease favors the landlord. Accordingly, it may be possible for a tenant to bargain for a net lease with caps or ceilings, which limits the amount of rent the tenant must pay. For example, a net lease with caps may specify that an increase in taxes beyond a certain point (or any new taxes) will be paid by the landlord. The same kind of protection can be designed to cover increased insurance premiums and maintenance expenses.