As an Indiana attorney, I'm not familiar with Illinois rules governing process servers, so I can't tell you if there are any specific provisions of those rules that might affect the answer to your question. But I can answer your question as a general matter.
You're probably talking about a so-called "living trust" which is revocable by the grantor until the grantor's death and then converts to an irrevocable trust. The answer to your question depends on the language of the trust instrument, probably called a declaration of trust or a trust agreement....Read more »
Even when my clients are buying a house for cash, I advise them to use a closing or settlement agent to handle the closing to make sure everything is done correctly, and I also advise them to obtain an owner's title insurance policy, which will likely require a survey to be performed. The usual...Read more »
We had a contract to sell our house. She didn't qualify for a loan. 2 weeks later she buys an even more expensive house. Can she legally withhold financial information to prevent the sale from proceeding?
If I understand correctly, you are a bit suspicious that the buyer may not have disclosed all of her financial information in applying for a loan precisly so she would not qualify and therefore could get out of the purchase agreement. A couple of thoughts....
This answer may be a bit late but. . . . based only on the facts you've given, and assuming the contract is valid and created a binding obligation for you to sell, it seems you have to possibilities: (1) Go through with the sale. (2) Try to negotiate a resolution with the buyer which will likely...Read more »
They had just signed an 18 mo. lease (2nd lease) and then lied about accepting a job offer in DC and it would create a hardship if they couldn't get out of the lease. I just found out they never moved and just wanted out of the lease. Am I stuck without recourse?
Based only on the facts you've given, it appears that you likely have a claim against the former tenants for fraud. I recommend you see an attorney to discuss the facts in more detail and to discuss the remedies you might have available to you. Take a copy of the lease with you and copies of any...Read more »
Possibly. The Internal Revenue Code imposes liability for the failure to collect and pay withholding on "responsible persons." Responsible persons can include officers, directors, shareholders, and others. The test is not really the person's title but whether the he or she had a duty to account...Read more »
Sure. The only reason I can think of that might prohibit it is if one or both of them are franchises, and the franchise agreement prohibits you from owning a competing business -- but even that seems unlikely in your example of a hardware store and a cabinet store.
I have several emails discussing that we took over the house and that the seller would write an agreement. This never happen and now she wants to change the agreement after we have paid on it for 2 years. Can I stop her from doing this?
I agree with Mr. Snyderman. In addition to the question of whether the email messages contain enough documentation of the essential terms, there can also be a question of whether the email messages are "signed."
However, the situation that you describe presents a slightly different...Read more »
Yes. If land is owned jointly by two people (whether it's as joint tenants or tenants in common), each owner has the right to full use of the land. However, if the property is leased, each owner should get half the rent, regardless of which owner made the lease. And if there is a disagreement...Read more »
I assume nothing has been done so far and the house is still entirely in the husband's name. In that case, if the husband dies, the house will pass to his heirs either under his will, if he has one. If dies without a will, the house will pass to his heirs according to the rules of intestate...Read more »
Yes, usually, but it depends on how the deed reads. Usually, if the house was bought during the marriage, the deed will give the married couple a "tenancy by the entirety." If they bought the house before they got married, the deed will usually give them a "joint tenancy." In either of those...Read more »
Does a very small church NEED to incorporate? No. There are many small churches, and some large ones, that operate as unincorporated associations. However, I advise all my nonprofit clients, including churches, to incorporate. Although I can't speak specifically to Alabama law, in my experience...Read more »
I'm guessing that you are talking about property that was held in joint tenancy with right of survivorship. One of the joint tenants died, and now the property is owned by the surviving joint tenant. If that's the case, the surviving joint tenant can sign a document called an affidavit of...Read more »
Either one will work. If you organize the LLC in Pennsylvania, you'll need to obtain a Certificate of Authority to transact business in Indiana from the Indiana Secretary of State. Either way, you'll need a registered agent and registered office in Indiana. There are companies that provide...Read more »
A living trust can be a good way to leave your business to your children, but it's not the only way. Another very good way to do it is to designate your LLC interest as transfer on death (TOD) property with your children as benefiaries.
Assuming the nieces and nephews are the only survivors (i.e., no spouse, no parents, no children, grandchildren, great grandchildren, etc.), the nieces and nephews will take "by representation" or "per stirpes." In other words, the two siblings, had they survived, would have each taken half. So...Read more »
Indiana Code 23-1-23-1(b) says that the name of a corporation has to be distinguishable from the name of another corporation or other business entity organized in Indiana. So, no, there should not be two Indiana corporations with the same name. In fact, there should not be an Indiana corporation...Read more »
Any Indiana business corporation -- whether it is taxed as an S-corporation or a C-corporation -- is required to keep certain records specified by Indiana Code 23-1-52-1, including, among other things, minutes of all shareholder meetings and meetings of the board of directors. Those records must be...Read more »
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