Volume I - Issue No. 3- Fall 1998

Seller Beware!

The rule of thumb for transactions involving real estate has always been "Buyer Beware!" That rule of thumb has changed since the institution of the Residential Real Property Disclosure Act.

Most Sellers of Illinois residential real estate have an obligation to provide prospective Buyers a written disclosure reporting any material defects in the condition of the property of which the seller has actual knowledge. A "material defect" is defined as being any condition which would substantially impact the value of the real estate or would significantly affect the health or safety of a future occupant. Among the matters about which the Seller must report are leakage problems, the electrical, plumbing and heating systems, the well and septic.

The fact that a Seller may not report that he is aware of a material defect is no guarantee that such a defect does not exist. A prospective purchaser is encouraged to use the information in the report for negotiation purposes or to request inspections or warranties.

If the Seller fails or refuses to provide the report, a prospective Buyer may terminate the offer to purchase.

If the Seller knowingly discloses information on the report which he knows to be false, the Seller may be liable not only for the Buyer's actual damages, but for the Buyer's attorneys fees and court costs as well.

Are We 'Halving Funds' Yet?

Both parties to a divorce action in Illinois need to be aware that interim attorneys fees may be awarded without the need for an evidentiary hearing. Any request for interim fees must be accompanied by an affidavit.

Factors which a court may consider before awarding interim fees include: (1) the income and property of each party; (2) the needs of each party; (3) the earning capacity of each party; (4) the standard of living established during the marriage; and (5) the degree of complexity of the issues.

The law is intended to remove the financial inequality between spouses so that the financially disadvantaged spouse is not deprived of effective legal counsel during the proceedings.

There is a presumption that any amount of interim fees awarded be in an amount equal to at least the amount paid to the other spouse's attorney. Any amount awarded is without prejudice in the final determination of property, debts and fees.

The practice of raising one's right hand when taking an oath in court originated in the days when a felon was not permitted to serve as a witness. Convicted felons were branded on the palm of the right hand. Therefore, witnesses were required to expose their right palm to prove that they were not disqualified from testifying.

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