Questions answered by Stephen Samuel Messutta

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My friend bought me a car 6 years ago and now shes threatining to sue me for the money back! I signed a promissary note

Stephen's answer | Answered on March 19, 2012

A promissory note is a contract of sorts and it depends on the terms of the note. Many notes are "demand" notes, meaning the maturity date is...

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I was given money as a loan with no contract of any kind 4 yrs ago ($2000)they now want to be repaid do they have legal rights

Stephen's answer | Answered on March 18, 2012

You just admitted that this was a loan. While this site provides relative "anonymity", congrats, if you admit that it was a loan then it was a...

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If I made a settlement with the second mortgage for less than what I owe, should I pay the income tax for the difference?

Stephen's answer | Answered on March 18, 2012

I recommend you consult with a tax preparer. Here's why: The Mortgage Debt Forgiveness Act (of 2007 extended to include this year) DOES allow you...

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Am selling my summer business. Buyer has certain conditions I don't know how to respond to.

Stephen's answer | Answered on March 18, 2012

Normally the way this is handled is that you sell the business and agree for say, 30 days, to assist the buyer to learn the ins and outs of the...

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Will I lose the house and my deposit?

Stephen's answer | Answered on March 17, 2012

Someone would have to review the construction contract to determine what your contractual rights are. If the contractor commenced construction...

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Frozen waterpipe damage from unoccupied unit attached to us. Can we place a lein on the townhome?

Stephen's answer | Answered on March 17, 2012

Without more it's impossible to be 100% accurate, but there may be a couple of different kinds of liens that could be involved when it comes to you...

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Breaking a lease/violation of peaceful enjoyment

Stephen's answer | Answered on March 13, 2012

You are in Chicago. If your landlord does NOT live in your building, or your building has more than 6 units and the landlord DOES live in your...

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29 year mortgage taken out in 1975 - paid off in 1994.There was never a release filled. What can be done?

Stephen's answer | Answered on March 13, 2012

You have potentially a few options, depending on who is still around: 1. Look around: sometimes releases are sent out and borrowers don't realize...

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Is it too late to collect on a note dated signed in 1949?

Stephen's answer | Answered on March 11, 2012

While you should follow the others' thoughts too, one of the major questions will be when was the maturity date of the note? Most mortgage loans...

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Are the laws, statutes, etc,, of Illinois substantially copied from any other state or, conversely, is there one or more ---

Stephen's answer | Answered on March 11, 2012

This sounds like a school assignment and we do not do homework here. However, there are many laws that are alike in many states because many state...

Stephen Samuel Messutta's Answers (2874)

My friend bought me a car 6 years ago and now shes threatining to sue me for the money back! I signed a promissary note

I was given money as a loan with no contract of any kind 4 yrs ago ($2000)they now want to be repaid do they have legal rights

If I made a settlement with the second mortgage for less than what I owe, should I pay the income tax for the difference?

Am selling my summer business. Buyer has certain conditions I don't know how to respond to.

Will I lose the house and my deposit?

Frozen waterpipe damage from unoccupied unit attached to us. Can we place a lein on the townhome?

Breaking a lease/violation of peaceful enjoyment

29 year mortgage taken out in 1975 - paid off in 1994.There was never a release filled. What can be done?

Is it too late to collect on a note dated signed in 1949?

Are the laws, statutes, etc,, of Illinois substantially copied from any other state or, conversely, is there one or more ---