Publications

Illinois Bar Journal
Articles on Real Estate Law

Long Odds: Commercial Mortgagors Fighting to Keep Their Property During Foreclosure Have Few Options By Tracy Steindel Ickes March 2014 Article, Page 144 Illinois law presumes lenders are entitled to possession of commercial property during foreclosure, and defendant-mortgagors aren't likely to overcome that presumption.
Sole member of LLC shielded from personal liability for alleged frauds committed by LLC March 2014 Illinois Law Update, Page 120 On December 20, 2013, the Illinois First District Appellate Court, as a matter of first impression, held that the sole member of a limited liability company (LLC) that sold a condominium unit was not personally liable for alleged frauds committed by that LLC.
New real estate appraiser licensing requirements February 2014 Illinois Law Update, Page 68 The Illinois Department of Financial and Professional Regulation adopted amendments regarding real estate appraiser licensing. 68 Ill. Adm. Code 1455 (eff. Dec. 31, 2013).
Meeting and vote required for dissolution of non-profit residential cooperatives January 2014 Illinois Law Update, Page 16 The General Not For Profit Corporation Act of 1986 has been amended to impose new requirements on nonprofit corporations organized for the ownership or administration of a residential cooperative property.
New application requirements for title insurance agent registration January 2014 Illinois Law Update, Page 16 Applicants for registration as title insurance agents will now have new requirements as part of their application. Whether the applicant is a person, firm, or other type of business organization, they must submit a signed and notarized affidavit affirming that the applicant, or any member, officer, or manager thereof, has never been convicted of or pled guilty to a felony, or a misdemeanor related to thievery or dishonesty.
No license needed to perform valuation waivers January 2014 Illinois Law Update, Page 16 Employees of the Illinois Department of Transportation ("IDOT") without a state real estate appraisal license may now perform valuation waivers if they have: (1) completed at least forty-five hours of course work in real estate appraisal; and (2) have had at least two years of experience in a field "closely related to real estate."
Auction license holders will be able to obtain real estate auction certification to auction real estate December 2013 Illinois Law Update, Page 612 A person holding a valid license under the Auction License Act (225 ILCS 407/5 et seq.) and a valid real estate auction certification under newly added section 5-32 of the Real Estate License Act of 2000 (225 ILCS 454/5-32) may now conduct real estate auctions.
Stifling ‘sovereign citizens’: tougher penalties for unlawful clouding of title By Adam W. Lasker November 2013 Lawpulse, Page 554 In response to false liens against public officials' property filed by so-called "sovereign citizens," the Illinois legislature upgrades false title-clouding from a misdemeanor to a felony.
Challenging a Trustee Plaintiff’s Standing to Maintain a Foreclosure Action in Illinois By Damon Ritenhouse and Prashant Vallury October 2013 Article, Page 522 The authors describe a new strategy to help defend against trustee plaintiffs who may lack proper standing to bring a foreclosure suit.
Additional fees for recording a document affecting a real property interest. PA 098-0005 August 2013 Illinois Law Update, Page 392 To record a document affecting a real property interest, not including documents solely related to easements for water, sewer, electricity, gas, telephone, or other public services, the filer of the document (excluding a state agency, local government, or school district) will be charged $1 per document by the recorder. 55 ILCS 5/3-5018.
Fracking Comes to Illinois By Leonard S. Kurfirst and Colin P. O’Donovan August 2013 Article, Page 404 What exactly is fracking? How big an impact might it have in Illinois? This article reviews the process and the new state law.
Affordable Housing Planning and Appeal Act regulations specify appeals process for developers July 2013 Illinois Law Update, Page 336 Newly enacted regulatory provisions, effective March 29, 2013, authorize the Illinois Housing Development Authority to adopt rules implementing the responsibilities of the State Housing Appeals Board (the "Board") under the Affordable Housing Planning and Appeal Act, 310 ILCS 67/60.
County recorders can investigate fraud, bill provides By Adam W. Lasker July 2013 Lawpulse, Page 330 The controversial bill would empower recorders to red-flag deeds and other documents that appear fraudulent. Wary real estate practitioners have a wait-and-see attitude.
Forcing Lenders to Comply with the Home Affordable Modification Program By Andrew Hawes June 2013 Article, Page 308 The seventh circuit rules that borrowers can sue lenders for state law breach of contract and other claims related to a trial period plan payment agreement.
Home rule rules, says the Illinois Supreme Court By Adam W. Lasker June 2013 Lawpulse, Page 278 Ordinances enacted by home rule municipalities trump state statutes unless the state expressly exercises exclusive control, the supreme court rules in a condo case.
Mortgage Fraud and E&O Insurance: Making Sure There’s Something to Sue For By Kurt B. Drain May 2013 Article, Page 250 Too often, lenders win mortgage-fraud judgments against defendants who turn out to be judgment proof. The solution? Ensure that mortgage brokers have adequate E&O coverage.
Court clarifies standards for confirmation of levy sales April 2013 Illinois Law Update, Page 176 On January 22, 2013, the Illinois Appellate Court, First District, held that a levy sale of an undivided half-interest in a single-family home for $120,000 less than its appraised value was not unconscionable or unjust.
A New Law Overturns Cypress Creek By Joseph R. Fortunato April 2013 Column, Page 204 A new law puts contractors with secured liens ahead of lenders.
New supreme court rules promote foreclosure mediation By Adam W. Lasker April 2013 Lawpulse, Page 170 New consumer-friendly rules, effective May 1, are designed to make the foreclosure process more fair and reduce the backlog of cases.
Real Estate and Avoiding Probate: The Case for Land Trusts By David J. Lanciotti February 2013 Article, Page 86 While both land trusts and transfer on death instruments allow residential real estate to transfer outside probate, the land trust has important advantages for some clients, this author argues.
Real Estate and Malpractice By Karen Erger December 2012 Column, Page 662 Real estate law now generates more claims than any other practice area.
High court: unpaid property tax not a bar to running for municipal office By Adam W. Lasker October 2012 Lawpulse, Page 514 The Illinois Supreme Court limited the reach of the candidate-qualifications statute to make it harder to remove candidates from the ballot for "indebtedness to the municipality."
Is the Real Estate Lawyer an Endangered Species? By Joseph R. Fortunato October 2012 Column, Page 556 A recent title insurance case illustrates how much things have changed.
Eminent Domain: A New Valuation Timetable By James M. Wagner and Patrick J. Kelly September 2012 Article, Page 486 A recent case holds that compensation must reflect the value of the property when the payment is made, not earlier when the condemnation complaint was filed.
Law provides a property tax exemption for homes rebuilt after a natural disaster. PA 097-0716 September 2012 Illinois Law Update, Page 464 Illinois lawmakers have amended the Property Tax Code by adding section 15-173.
New cases every real-estate lawyer should read By Adam W. Lasker September 2012 Lawpulse, Page 458 Real-estate practitioners should be sure to read recent decisions on the duty of title insurers, the content of mortgage documents, and recording of deeds and mortgages.
Exhaustion of Administrative Remedies in Property Tax Assessment Appeals after Millennium Park By Antonio Senagore August 2012 Article, Page 434 The Illinois Supreme Court recently held that a taxpayer could skip the administrative appeal process and challenge a property tax assessment directly in circuit court.
A Modest Proposal - Liability for Negligence in Property Inspections By Joseph R. Fortunato Jr. April 2012 Column, Page 220 Is it time for legislation that voids liability limitations in property inspectors' contracts?
Practitioners and title industry unite to iron out new TODI law By Adam W. Lasker April 2012 Lawpulse, Page 178 Title companies are working with drafters of the new transfer-on-death-instrument law to clear up questions and help prevent uncertainty.
Three Title Insurance Traps for Real Estate Lawyers By Michael J. Rooney March 2012 Article, Page 146 Closing protection letters, the Form DS-1 disclosure, and key 2010 revisions to the Rules of Professional Conduct are potential pitfalls for real estate lawyers.