In Illinois, property taxes are generally assessed based on the property's fair market value, with assessment levels varying by county.
In Illinois, adverse possession requires continuous, open, notorious, exclusive, and adverse use of the property for 20 years.
A general warranty deed in Illinois provides the highest protection as it guarantees the grantor’s title against any defects, both before and during the grantor’s ownership.
Written contract with offer, acceptance, consideration, and legal capacity. Under the Statute of Frauds, real estate contracts in Illinois must be in writing and include these elements to be enforceable.
A law protecting a portion of a primary residence's equity from creditors. In Illinois, the homestead exemption allows a homeowner to protect up to $15,000 ($30,000 for married couples) of their home’s value from certain creditors.
