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Articles filed under Resnick, Tom

Son worries his brother will take father's assets

By Tom Resnick
May 20, 2022 7:00 AM - Q: My father died a couple weeks ago. My mom died five years ago. He had three sons and his only assets are his house and his IRA worth maybe $200,000.
When to buy commercial property, or corporation?

By Tom Resnick
Apr 16, 2022 6:00 AM - Q: I am looking at a piece of commercial property being held by a corporation. The seller tells me this is the only asset of his corporation and he is asking me if I wish to purchase the corporation rather than the property. He is telling me if I wanted to hold the property in a corporation rather than individually, all the work is already done and all we need to do is transfer the interest in the corporation.
Ex-spouse worried about his financial interest in house

By Tom Resnick
Mar 18, 2022 6:00 AM - Q: My wife and I were divorced about eight years ago. How can I protect my interest in the house should she sell?
Buyer should seek estoppel letter from building tenants

By Tom Resnick
Feb 11, 2022 6:00 AM - Q. I am looking into purchasing an apartment building for the first time. I have been doing research on the subject and often I see it is recommended that I obtain estoppel letters. What is an estoppel letter and is this necessary for my purchase?
Seller fails to disclose repairs required by association board

By Tom Resnick
Jan 8, 2022 7:01 AM - Q: My daughter bought a townhouse and closed in May. The homeowners association supplied its information just three days before closing in a faxed document that was difficult to read and did not address any work to be done.
Delay in closing date puts homeowners in a quandary

By Tom Resnick
Dec 17, 2021 7:01 AM - Q. My husband and I have been attempting to buy a new house. We had a contract to sell our existing house and found a house we really liked. We made an offer that was contingent on our closing our existing house on or before Nov. 15.
Shared driveway causes tension between neighbors

By Tom Resnick
Sep 24, 2021 7:01 AM - Q. I share a driveway with my next door neighbor. The part of the driveway we share is disintegrating. I have obtained a quote to repair for about $3,500. I have brought this up with my neighbor who insists the driveway is fine and there is no need to do anything.
Late father's lack of a will complicates a home sale

By Tom Resnick
Aug 20, 2021 7:01 AM - Q. My dad was planning on selling his home and moving to a senior community. Unfortunately, he passed away before he could get the house listed and sold.
New Cook County landlord ordinance changes security deposit rules

By Tom Resnick
Jul 17, 2021 7:01 AM - This column is to inform Cook County landlords of the passing of the Cook County Residential Tenant Landlord Ordinance, which became effective June 1.
Damaged interior brick wall needs costly repair

By Tom Resnick
Jun 19, 2021 7:01 AM - Water intrusion into the exterior brick wall has migrated inside, causing unsightly efflorescence on the exposed brick interior surface of the wall inside my condo. The interior surface bricks are now spalling and chipping. Shouldn't the condo association pay for repairs?

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