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Can a Landlord Require Tenants to Pay Rent By ACH Transfer in Illinois?

In this article, we answer the questions, “can a landlord require tenants to pay rent by ACH transfer in Illinois?” and “can an Illinois landlord require a tenant to pay rent via specific methods?”

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What Happens After a Written Lease Expires in Illinois?

If the tenant continues to pay rent to the landlord and the landlord continues to accept it, the terms of the written lease remain in effect until the tenant moves out.  However, the lease does automatically not renew for the same duration as the original lease without the landlord and tenant executing a document in writing agreeing to this.  Instead, the lease becomes a month to month lease, regardless of what the original term of the lease was. 

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Business Succession Planning: How to Use Buy-Sell Agreements to Plan for an Owner’s Retirement

In this article we discuss business succession planning and explain how to use buy-sell agreements to plan for an owner’s retirement. We explain three different options to plan for a business owner’s retirement with buy-sell agreements, including: the company purchasing a retiring owners shares through a lump sum payment, the company purchasing a retiring owner’s shares through installment payments, and the gradual transfer of a retiring owner’s shares to the next generation.  

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