CategorySales and Exchanges

Chicago Form

C

Sample Chicago Form What form of government does Chicago have? In accordance with the terms of the Illinois law, the city of Chicago has been granted legislative rights by both the state assembly and the home rule requirements. As a consequence of this, the City Council possesses an extensive amount of power over the administration and the operations of the city. This power includes the capacity...

Cash Payment Plus Assumption of Existing Mortgage

C

Sample Cash Payment Plus Assumption Of Existing Mortgage What happens when real estate is bought through assuming an existing loan? It is vital to remember that mortgage assumption does not take into consideration the buyer’s existing equity in the property. However, it does allow the buyer to take over the original loan balance at the original conditions. If the value of the home has...

Building and Other Restrictions Easement for Utilities

B

Sample &Nbsp;Building And Other Restrictions_ Easement For Utilities How much footage is usually considered the utility easement? Electric easements owned by PWC are typically between 30 and 50 feet wide, depending on whether they are for overhead distribution lines or maximum voltage power grids. The width of clearances for subterranean power lines can range anywhere from 10 to 20 feet. This is...

¬†Broker’s Receipt

 

Sample &Nbsp;Broker’S Receipt What is a brokerage receipt? The term “escrow receipt” refers to a statement that is written by a bank or clearinghouse to guarantee that an options writer has a sufficient amount of the underlying security available for delivery, in the event that it is necessary to do so in order to fulfill the terms of the contract. This statement is called a...