Illinois Complaint for Specific Performance of Real Estate Contract
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How to fill out Complaint For Specific Performance Of Real Estate Contract?
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FAQ
?(1) Except as otherwise provided in this Act, specific performance of a 1[contract shall], be enforced when the act agreed to be done is in the performance wholly or partly of a trust. (2) A contract made by a trustee in excess of his powers or in breach of trust cannot be specifically enforced.
Generally, the equitable remedy of specific performance will be granted only if two criteria are met: monetary damages (under the situation) must be inadequate as a remedy, and the subject matter of the contract must be unique.
A plaintiff is more likely to obtain an order of specific performance in a real estate sale dispute than in many other types of litigation actions. That is because of the inherently unique nature of a parcel of real estate.
An order of specific performance is generally not granted if any of the following is true: Specific performance would cause severe hardship to the defendant. The contract was unconscionable.
When a party to a failed real estate transaction is not at fault for the deal's failure and can demonstrate the property in question is unique, rather than damages, that innocent can request a court order requiring the breaching parties to complete the transaction. This remedy is known as specific performance.
If the judge grants specific performance, then you acquire the property under the terms of the contract everyone agreed to. In Illinois the contract has to be in writing and signed by the owner. Specific performance can only be granted where there is a valid and enforceable contract.
One core strategy for defending against the implementation of specific performance is showing there is another adequate remedy at law that should apply instead. For example, the defendant could show this by alleging the item or transaction is not unique enough to require specific performance.