Park Forest Real Estate Lawyer, Illinois

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David G. Clark

Commercial Leasing, Commercial Real Estate, Defamation & Slander, Condominiums
Status:  In Good Standing           

FREE CONSULTATION 

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Peter B. Canalia

Commercial Leasing, Commercial Real Estate, Defamation & Slander, Condominiums
Status:  In Good Standing           

FREE CONSULTATION 

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Robert J. Leoni

Corporate, Construction, Estate Planning, Wills & Probate
Status:  In Good Standing           

FREE CONSULTATION 

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Heidi Lynn Keenan

Commercial Real Estate, Social Security, Estate Planning, Elder Law, Business
Status:  In Good Standing           Licensed:  20 Years

Douglas Anthony Cipriano

Commercial Real Estate, Government, Transactions, Personal Injury
Status:  In Good Standing           Licensed:  32 Years

Douglas Cipriano

Commercial Real Estate, Workers' Compensation, Transactions, Personal Injury
Status:  In Good Standing           Licensed:  32 Years

Kelly Ann Karczmar

Real Estate, Medicare & Medicaid, Social Security, Estate
Status:  In Good Standing           Licensed:  19 Years

Richard Gerardi

Commercial Real Estate, Estate Planning, Estate, Transactions
Status:  In Good Standing           Licensed:  55 Years

Richard Paul Gerardi

Commercial Real Estate, Estate Planning, Estate, Transactions
Status:  In Good Standing           Licensed:  55 Years

Jack Bainbridge

Commercial Real Estate, Estate Planning, Transactions, Business
Status:  In Good Standing           Licensed:  47 Years

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Free Help: Use This Form or Call 800-943-8690

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800-943-8690

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LEGAL TERMS

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.

LIABILITY INSURANCE COVERAGE

Compensation to third parties who are injured or whose property is damaged due to the fault of the insurance holder. You may have liability insurance for your c... (more...)
Compensation to third parties who are injured or whose property is damaged due to the fault of the insurance holder. You may have liability insurance for your car or your home, or to cover actions you take in the course of your profession. Liability polices are sometimes called 'third-party policies.'

FRIENDLY SUIT

A lawsuit brought by two parties, not as adversaries, but as collaborators in order to resolve a legal question that affects them both. For example, two compani... (more...)
A lawsuit brought by two parties, not as adversaries, but as collaborators in order to resolve a legal question that affects them both. For example, two companies might bring a friendly suit to court in order to clarify a legal interpretation of a contract between them.

RIGHT OF SURVIVORSHIP

The right of a surviving joint tenant to take ownership of a deceased joint tenant's share of the property. See joint tenancy.

CONSTRUCTIVE EVICTION

When a landlord provides housing that is so substandard that a landlord has legally evicted the tenant. For example, if the landlord refuses to provide heat or ... (more...)
When a landlord provides housing that is so substandard that a landlord has legally evicted the tenant. For example, if the landlord refuses to provide heat or water or refuses to clean up an environmental health hazard, the tenant has the right to move out and stop paying rent, without incurring legal liability for breaking the lease.

PROPERTY

See personal property, real estate, community property, separate property.

DIVIDEND

A portion of profits distributed by a corporation to its shareholders based on the type of stock and number of shares owned. Dividends are usually paid in cash,... (more...)
A portion of profits distributed by a corporation to its shareholders based on the type of stock and number of shares owned. Dividends are usually paid in cash, though they may also be paid in the form of additional shares of stock or other property. The amount of a dividend is established by the corporation's board of directors; however, state laws often restrict a corporation's ability to declare dividends by requiring a minimum level of profits or assets before the dividend can be approved.

ACT OF GOD

An extraordinary and unexpected natural event, such as a hurricane, tornado, earthquake or even the sudden death of a person. An act of God may be a defense aga... (more...)
An extraordinary and unexpected natural event, such as a hurricane, tornado, earthquake or even the sudden death of a person. An act of God may be a defense against liability for injuries or damages. Under the law of contracts, an act of God often serves as a valid excuse if one of the parties to the contract is unable to fulfill his or her duties -- for instance, completing a construction project on time.

SETBACK

The distance between a property boundary and a building. A minimum setback is usually required by law.