A critical facet of buying and selling real estate is navigating the disclosure requirements. A mistake or misunderstanding of the mandatory disclosure laws can potentially expose sellers to substantial liability. Conversely, purchasers are often caught off-guard by defects or problems that were never disclosed.
In either case, obtaining experienced and knowledgeable legal counsel can help you explore remedies for undisclosed defects and avoid pitfalls down the road. At the law firm of McCarthy & Allen, our attorneys draw on more than 50 years of combined experience to assist clients in navigating real estate disclosure requirements.
Residential Disclosure Requirements
Illinois real estate law requires sellers of residential real property to disclose certain defects and problems with the property. Failure to comply with these disclosure requirements can lead to liability for damages and attorney's fees, which can be substantial.
The mandatory disclosure law provides powerful protection for homebuyers, particularly in the aftermath of discovering a home defect the seller concealed or failed to disclose. The law imposes stiff penalties in cases involving seller fraud or misrepresentation.
Whether you are selling or purchasing residential real estate, it is critical to consult with a real estate attorney regarding the scope and applicability of the mandatory disclosure requirements.
Required Disclosures For Commercial And Industrial Properties
Federal law imposes a number of burdens on real property purchasers and sellers concerning the presence of environmental pollutants and toxic waste. The laws and regulations in this area are sweeping and complex.
At McCarthy & Allen, our attorneys regularly advise clients on the impact of federal law on the sale of commercial and industrial properties. Our goal is to ensure that sellers and purchasers discharge their legal duties and minimize their exposure to liability.
Experienced And Knowledgeable In The Complexities Of Federal Law
We provide clients with concrete, strategic counsel on all aspects of federal environmental requirements. Our real estate lawyers are intimately familiar with applicable federal law, including:
- The Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA), also known as the Superfund
- Hazardous waste laws and regulations, such as the Resource Conservation and Recovery Act (RCRA)
- Clean Air Act
- Clean Water Act
- Regulations of the federal Environmental Protection Agency (EPA)
Contact Our Edwardsville Nondisclosure Attorneys
To speak with a purchase-sale dispute attorney in Madison County, call us at 618-307-4099 or toll free at 888-847-9322, or contact us online. Located in Glen Carbon, we serve clients throughout the St. Louis metro area and beyond.