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Articles filed under Resnick, Tom

Who owns a property is public record in Illinois

Apr 28, 2023 6:00 AM - Q: I will be purchasing a property within the next few weeks and would like to keep my ownership from becoming public knowledge. A friend suggested that after I purchase the property, I could convey the property into a land trust. He says if someone searches for the ownership of the property, the land trust will show as the owner, not me.
Lien is invalid if homeowner was not notified

By Thomas Resnick
Jan 6, 2023 7:00 AM - Q: My husband and I hired someone to do some repairs around our house. This included some roof repair, painting and the replacement of many cedar boards. Although we had a few disagreements along the way, the work was eventually done to our satisfaction and the contractor was paid in full. Now, six months after the work was done, we have received a mechanics lien notice from a local lumberyard demanding $2,800 for the lumber used to repair our home.
After mother's death, family wants brother to vacate her house

Dec 9, 2022 7:00 AM - Q: My brother has been living with (and sponging off) my mother for the past 15 years. Mom recently passed away. My brother refuses to allow the house to be sold, saying he can stay as long as he wants because of the fact that he has lived there so long.
COVID ends business, but not lease payments, shortly after opening

Nov 4, 2022 6:00 AM - Q: My husband and I rented office space in 2019 for a small business we were running. The timing wasn't great with COVID around the corner and we struggled during this period. We finally threw in the towel last November.
How to share property ownership with an investment partner

By Tom Resnick
Oct 7, 2022 7:00 AM - Q. Me and a friend of mine are looking for a fixer-up property to purchase. Each of us is putting half the money down and we will split the mortgage payments and other house-related expenses.
Should you buy a house without proper building permits?

By Tom Resnick
Jul 16, 2022 7:00 AM - Q: We are purchasing a house from longtime friends of ours. However, they put on an addition without a building permit. He is a carpenter and had tradespeople do much of the work, so I'm sure the addition is sound.
Senior tax 'freeze' prevents big increases in property taxes

By Tom Resnick
Jun 10, 2022 6:00 AM - Q: My wife and I applied for and received the senior tax exemption for our home. Recently a friend told me he also had a senior freeze. He attempted to explain it to me but did not do a very good job. What is a senior freeze and do my wife and I qualify for this?
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?

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