Chicago form is a legal document or a record regarding the undisputed tax charges and fees of selling the property to the purchaser. This is the most important for that has to be maintained until the purchaser moves away from that particular property. This document too has to have the signatures and acceptance of the both seller and buyer before any further process regarding the selling of the property. This is a legal document that has the records of the due payments that the purchaser has to pay for purchasing and further enrollment in any particular property.
This form holds the details of both the parties, the seller and the buyer, regarding the state or county of both the parties at the first place. This form also holds the costs of renting the property and the tax payments of the county or the state, where the property prevails. This property should not be taken over by the purchaser with any dues to the seller as well as the taxation departments of that particular state or county. The due dates are also clearly stated for the purchaser and the seller and all the dues has to be settled down within or before that particular date to avoid problems in the future. Thus, this form acts as a gateway to maintain a clear record of the purchasers payments and further notices regarding the property. It is highly recommended that the seller and the buyer read the whole document before any further steps.