Tag Archives: #realestatelaw

Distinction Between Fixture and Chattel in Relation to Real Estate under Illinois Law


The purpose of this memorandum is to elucidate the legal distinction between fixtures and chattel in the context of real estate under Illinois law. Understanding this distinction is crucial, as it determines the rights and interests of parties regarding property attached to real estate. I. Definition and Characteristics A. Fixture: In Illinois, a fixture is […]

Here Are Five Reasons to Rely on our Firm for your Transactions:


1. Experience – 8,000 closings and counting; 2. Organization – two dedicated and experienced staff members work every real estate transaction file on a daily basis from Monday to Friday; 3. Accessibility- dedicated support staff answer our phones every day, with 95% of all calls answered love by a receptionist in our office; 4. Geography […]

Attorneys Representing Buyers and Sellers of Real Estate


Some real estate transactions are commonplace matters, but many — especially in a city like Chicago— require complex legal analysis and skilled negotiation strategies backed by extensive knowledge and research. At the law firm of Wator & Associates, P.C., our attorneys bring detailed analysis and extensive experience to bear on all aspects of real estate […]

5 Tax Benefits to Owning Real Estate in a Corporation


1. **Deductible Expenses:** Corporations can deduct various expenses related to the maintenance and operation of real estate properties, such as property taxes, mortgage interest, insurance premiums, repairs, and property management fees. These deductions can help reduce the corporation’s taxable income. 2. **Depreciation:** Real estate held by a corporation can be depreciated over time, allowing the […]

Real Estate Transaction Fundamentals


Title insurance is issued using standardized forms of policies and endorsements. The most commonly used forms for commercial properties are those promulgated by the American Land Title Association (ALTA), a nationwide title insurance industry group. A title endorsement is an addition to or limitation of title insurance coverage that is attached to a title insurance […]

Real Estate Fundamentals – Amendments to Illinois Real Property Transfer on Death Instrument Act

In July 9th, 2021, Governor J.B. Pritzker signed a bill which changes the Residential Real Property Transfer on Death Instrument Act, the new law will be called the Illinois Real Property Transfer on Death Instrument Act, this law will start on January 1st, 2022. The previous law and the new law that allows for a […]

Representing Buyers and Sellers in Real Estate – Trust our Proven Team of Lawyers and Staff

Whether you are buying or selling, commercial or residential, anywhere in the metropolitan Chicago area, speak with us to get sophisticated legal counsel as you pursue a successful outcome. Call (773) 407-2100 to schedule a consultation or ask your realtor to put our firm information on the appropriate page of your purchase/sale contract!!!