Civil real estate – sale

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If ownership of a property is changed in exchange for money, then the property is deemed to have been sold for the purpose of any contract where the sale is a precondition. The 1st Circuit Court of Appeals upheld the Cook County Circuit Judge’s decision. Daniel J. Cubasiac. Fortune Investments LLC (Fortune), owned by M. Abdul Matin (Mathin), borrowed $ 17 million from MB Financial Bank NA (MB Financial) to finance a residential complex of 70 apartments. Matin personally guaranteed the loan and …

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