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Although money is the most common consideration, it is not a required element to have a valid real estate contract. An earnest money deposit from the buyer(s) customarily accompanies an offer to buy real estate and the deposit is held by a third party, like a title company, attorney or sometimes the seller. The amount, a small fraction of the ...
An earnest payment or earnest money is a specific form of security deposit made in some major transactions such as real estate dealings or required by some official procurement processes to demonstrate that the applicant is serious and willing to demonstrate an earnest of good faith about wanting to complete the transaction. [1]
A power of attorney may be: special (also called limited), general, or temporary. A special power of attorney is one that is limited to a specified act or type of act. A general power of attorney is one that allows the agent to make all personal and business decisions [9] [10] A temporary power of attorney is one with a limited time frame. [11]
The Supreme Court decision in Illinois Central Railroad v. Illinois, 146 U.S. 387 (1892), reaffirmed that each state in its sovereign capacity holds title to all submerged lands within its borders and holds these lands in public trust. [1] This is a foundational case for the public trust doctrine.
LandAmerica Financial Group, Inc. was the third largest title insurance group in the US. It was incorporated in 1991 as Lawyers Title Corporation, and renamed LandAmerica after Lawyers Title acquired Commonwealth Land Title Insurance Company and Transnation Title Insurance Company in 1998. It was headquartered in Glen Allen, Virginia.
The American Land Title Association (ALTA), founded in 1907, is the national trade association representing more than 6,400 title insurance companies, title and settlement agents, independent abstracters, title searchers and real estate attorneys. ALTA's headquarters is in Washington, DC.
The Central Illinois Public Service Company was an electric streetcar holding company and power utility first organized in 1902. Under its later quarter billion dollar holding company, CIPSCO Inc. (formerly NYSE: CIP), it merged in 1997 with the larger neighboring Union Electric Company of Missouri (formerly NYSE: UEP) to form Ameren Corporation (NYSE: AEE) based in St. Louis, Missouri. [1]
The Dirksen Federal Building in Chicago, one of four locations where the United States District Court for the Northern District of Illinois holds sessions. The United States District Court for the District of Illinois was established by a statute passed by the United States Congress on March 3, 1819, 3 Stat. 502.