We are often asked the question of how to approach the matter of inspections pursuant to a contract signed by the purchaser where the contract includes an “as is” clause. As an initial matter let us define what an “as is” provision in a real estate purchase contract means. An “as is” clause merely provides […]
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Secured and Unsecured – How do Secured Creditors Get Paid in Full(ish) in a Chapter 13 Bankruptcy Even if the Collateral is Valued Less
11 U.S.C. § 506(a) plays a central role in determining the secured status of claims in bankruptcy, including in the described Chapter 13 scenario involving an undersecured vehicle loan (where the vehicle’s value is less than the outstanding debt). Below, I’ll explain its potential impact step by step, based on the statute and its application […]
Under Illinois law, the Probate Act expressly allows the court to appoint co-guardians (two or more) for a person with a disability — either to serve together for the same role (e.g., both as guardians of the person) or to split roles (e.g., one guardian of the person and another guardian of the estate). However, […]