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A listing contract (or listing agreement) is a contract between a real estate broker and an owner of real property granting the broker the authority to act as the owner's agent in the sale of the property.
In law, conveyancing is the transfer of legal title of real property from one person to another, or the granting of an encumbrance such as a mortgage or a lien. [1] A typical conveyancing transaction has two major phases: the exchange of contracts (when equitable interests are created) and completion (also called settlement, when legal title passes and equitable rights merge with the legal title).
The nonprofit company served 12 communities of independent living, assisted living and long-term health services for seniors across Illinois, Indiana, Iowa and Missouri.
The Real Estate Settlement Procedures Act (RESPA) was a law passed by the United States Congress in 1974 and codified as Title 12, Chapter 27 of the United States Code, 12 U.S.C. §§ 2601–2617.
If there is no buyout, then the law provides a preference for the court to order a partition in kind and divide the property, rather than order a sale. The law requires courts to take into account factors other than economic, such as the value of family heritage, historical value of the property, or the impact of the sale on those living on the ...
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The Illinois Department of Financial and Professional Regulation (IDFPR) is the Illinois state government code department [1] [2] that through its operational components, the Division of Banking, Division of Financial Institutions, Division of Professional Regulation, and Division of Real Estate, oversees the regulation and licensure of banks and financial institutions, real estate businesses ...
A famous rule is that a thief cannot convey good title, so title searches are routine (or highly recommended) for purchases of many types of expensive property (especially real estate). In several counties and municipalities in the US a standard title search (generally accompanied by title insurance ) is required under the law as a part of ...