I provided a link below. http://docs.legis.wisconsin.gov/statutes/statutes/452.pdf

I learned a lot by reading the state statutes online and early on I took a tax sale attorney out for breakfast. 

The written consent is presumed to have been given and all parties are considered informed for any party who signs a writing or writings at the time of entering into an agency relationship with the licensee that contains the following:(1) A description of the real estate transaction or types of real estate transactions in which the licensee will serve as a limited agent.(2) A statement that in serving as a limited agent, the licensee represents parties whose interests are different or even adverse.(3) A statement that a limited agent shall not disclose the following without the informed consent, in writing, of the parties to the real estate transaction:(A) Any material or confidential information, except adverse material facts or risks actually known by the licensee concerning the physical condition of the property and facts required by statute, rule, or regulation to be disclosed and that could not be discovered by a reasonable and timely inspection of the property by the parties.

The way I understand things, most debts, like a home mortgage, credit card debt, medical debt, etc, are subject to a statute of limitations.

To learn ore about your states laws you can look up the statutes.

Each of these very broad categories have even more complicated options by statute. 

I see nothing in the Illinois Statute but need to find out.Thoughts?

By IRS statute the order of a 1031 exchange must be that you close the sale of your old property before taking title to the new property. 

Historically, by custom but not by statute, buyers and sellers split the cost of escrow evenly.

Jay brings up a good point about statute of limitations, you need to understand the rules for the jurisdiction the property is in.