Illinois Condemnation Clauses: Contract for Real Property
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Description
A clause dictates the conditions under which the contract is legally enforceable and determines the terms of the contract. Contracts often contain boilerplate clauses or standard clauses found across most contracts. These standard clauses do not require a lot of negotiation. Included is a Sample Condemnation Clauses for a Contract for Real Property. Typically, a condemnation clause permits a landlord or a tenant to either terminate the lease or abate the rent in the event of a government "taking" of the leased property. The clause may require notification be made between Seller and Buyer.
