Transfer fee covenants prohibited. PA 096-1345January 2011Illinois Law Update, Page 16The Illinois General Assembly has prohibited transfer fee covenants, declaring them an impairment of the marketability and transferability of property.
The New, Improved Home Repair and Remodeling ActBy Adam B. WhitemanSeptember 2010Article, Page 462ISBA-inspired changes specify that a homeowner's remedy for an HRRA violation is to sue under the Consumer Fraud and Deceptive Business Practices Act.
Reinstatement of real estate license. PA 096-0989September 2010Illinois Law Update, Page 452The Real Estate License Act has been amended to enable managing broker licensees, brokers, and leasing agents more flexibility in renewing their license. (225 ILCS 454/5-50)
Tenancy by the entirety gets a boostBy Helen W. GunnarssonSeptember 2010LawPulse, Page 446Spouses no longer must choose between the protection against creditors provided by tenancy by the entirety and the estate-planning advantages of a revocable inter vivos trust.
ABN AMRO: A victory for the foreclosed-uponBy Helen W. GunnarssonAugust 2010LawPulse, Page 394The Illinois Supreme Court holds that in a foreclosure suit, the mortgage lender must name (and thus notify) the personal representative of a deceased borrower before the trial court can hear the case.
Presenting property tax appealsOctober 2009Column, Page 532Q: The fair market value of my house has decreased since the recession, but my property taxes haven’t. I’ve filed an appeal of my assessment with the Board of Review, and I’m waiting for the hearing. What is my best argument at the hearing? What should I take with me in the way of evidence? What are my chances in getting the taxes reduced?
Real Estate on HoldBy James K. WestonApril 2009Column, Page 206The real-estate market, still frozen by fear, is producing few opportunities.
Creative ways to fend off foreclosureBy Helen W. GunnarssonMarch 2009LawPulse, Page 116Two lawyers think outside the box to help clients hang on to their homes, one by negotiating with lenders, the other by leveraging the power of Chapter 13.