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Illinois Bar Journal

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Articles on Real Estate Law

Forcing Lenders to Comply with the Home Affordable Modification Program By Andrew J. 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.
Homestead and the “Purchase Money Mortgage” Exception By Joseph R. Fortunato, Jr. January 2012 Column, Page 52 When only one spouse takes title to the house, must the other sign the mortgage?
The Transfer on Death Instrument Comes to Illinois By Charles G. Brown December 2011 Article, Page 618 Effective January 1, Illinois law gives your clients a convenient way to transfer residential real estate outside of probate. Here's a review of the new law by one of its drafters.
New scams target real estate lawyers By Helen W. Gunnarsson November 2011 LawPulse, Page 550 Scammers are using smartphones and apps to steal home-sale proceeds.
Active Duty Military: A Special Class of Distressed Homeowners By Steven B. Bashaw October 2011 Column, Page 532 Being forced to sell a home in this economy is a recipe for financial misery.
2011 Spring Session Legislative Roundup By Jim Covington August 2011 Column, Page 392 A summary of key legislation from this year's session.
Statute of repose bars legal malpractice claim By Helen W. Gunnarsson August 2011 LawPulse, Page 382 A plaintiff who sued a lawyer for malpractice in the preparation of a quitclaim deed was too late because any injury occurred when the deed was prepared, not later when her husband died.
The New Chicago Condominium Conversion Ordinance By Joseph Fortunato July 2011 Column, Page 366 It protects renters whose apartments are being converted and buyers of the new condos.
How to Be a Good Closer By Helen W. Gunnarsson June 2011 Article, Page 290 In baseball and residential real estate practice alike, it often comes down to the last inning when a lights-out closer can make the difference. Here are tips from veteran lawyers about what you might encounter at a real estate closing and how to handle it.
K. Miller: The Supreme Court and the Home Repair and Remodeling Act By Barbara A. Farrell June 2011 Article, Page 302 The Illinois Supreme Court interpreted the old Home Repair and Remodeling Act in light of the newly amended version and rendered a contractor-friendly decision.
New regulations for real estate licensing June 2011 Illinois Law Update, Page 286 The Illinois Department of Financial and Professional Regulation recently repealed and replaced the majority of the Real Estate License Act of 2000 with an updated and reorganized version. 68 Ill Adm Code 1450.
Unpaid Condominium Assessments - Who’s on the Hook? By Joseph R. Fortunato April 2011 Column, Page 208 To what extent are purchasers of a condominium unit at a foreclosure sale liable to an association for unpaid assessments?
Can civil partners hold property as tenants by the entirety? By Helen W. Gunnarsson March 2011 LawPulse, Page 118 The consensus among leading ISBA and other real estate practitioners appears to be "yes." Now that Governor Quinn has signed the Religious Freedom Protection and Civil Union Act into law as PA 96-1513, lawyers across the state are considering the statute's effect on specific aspects of their practices.
Why Commercial Landlords Should Stop Worrying and Learn to Love Arbitration By Shorge Sato March 2011 Article, Page 144 The Illinois Supreme Court's Carter decision holds that arbitration provisions can trump the statutory right to a jury trial contained in the Forcible Entry and Detainer Act, this author argues.