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Illinois Bar Journal

 

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Articles on Real Estate Law

How Illinois’ Homestead Exemption Really Works By David J. Dwyer May 2005 Article, Page 252 Here's how to calculate property taxes in Cook County under the new law.
Property Tax Code allows for post-judgment motions May 2005 Illinois Law Update, Page 232 On February 17, 2005, the Illinois Supreme Court reversed the appellate court's dismissal of the property owners' appeal and remanded the case to the appellate court. 
Reducing Real Estate Fraud – Thumbprints and How Much More? By James K. Weston April 2005 Column, Page 208 Two different bills requiring notaries to maintain logbooks and record thumbprints are introduced this session.
All constitutional requirements must be met in order for property to qualify for a charitable-use property tax exemption March 2005 Illinois Law Update, Page 116 On December 2, 2004, the Illinois Supreme Court reversed the orders of the appellate and circuit courts, which reversed the Illinois Department of Revenue's (Department) holding that the property in question was not tax exempt. 
Sellers subsidize closings via HUD-approved programs By Helen W. Gunnarsson March 2005 LawPulse, Page 110 The Nehemiah and AmeriDream programs allow sellers to pick up closing costs for homebuyers without violating RESPA. But is there a downside to this popular practice?
Attorney-Approval Clauses and Residential Real Estate Contracts: Mere Modification or More? By Helen W. Gunnarsson February 2005 Article, Page 72 Most home-sale contracts empower attorneys to propose modifications. But do those "proposals" effectively nullify the contract?
For the doctrine of boundary by acquiescence to apply, both parties must acquiesce to the boundary in question for a considerable period of time February 2005 Illinois Law Update, Page 68 On December 9, 2004, the Illinois Appellate Court, Second District, affirmed in part, vacated in part, and remanded in part the decision of the Circuit Court of McHenry County awarding the plaintiffs certain property by reason of adverse possession.
Beneficial interest in land trusts and controlling interests in real estate entities are now taxable under the Real Estate Transfer Tax January 2005 Illinois Law Update, Page 14 The Department of Revenue recently adopted amendments to the Real Estate Transfer Tax, 86 Ill Adm Code 120. Effective October 13, 2004, the changes affect sections 120.5, 120.10, and 120.20 of the code. 
(Not so) dastardly deeds By Helen W. Gunnarsson January 2005 LawPulse, Page 8 If you spot a mistake in a deed, don't panic. There might just be an easy fix.
Update on Real Estate Tax Law Changes By James K. Weston January 2005 Column, Page 44 Here's a summary of some of the many recent changes in real estate taxation.
A better way to fight fraud is under your thumb By James K. Weston October 2004 Column, Page 542 Let's amend the notary law to require a thumbprint with the signature.
You, too, can be title insurance agent By Helen W. Gunnarsson August 2004 LawPulse, Page 390 Have – or hope to have – an active residential real estate practice? If you're not a title agent already, becoming one might well boost your bottom line.
The Open and Obvious Doctrine and Landowner Liability: The Rule and the Exceptions By Jennifer E. Simms July 2004 Article, Page 352 A discussion of the doctrine, its exception, and its applicability to children.
Title work is lawyers’ work By Helen W. Gunnarsson July 2004 LawPulse, Page 334 Leading real estate practitioners warn their fellow lawyers not to cede control over title work to realtors.
Watch out for (un)real estate deals By Helen W. Gunnarsson July 2004 LawPulse, Page 334 Don't let your clients lead you down the road to a RESPA violation by misstating the price of real estate.
Mechanics Liens and Slander of Title: The Case for Absolute Privilege By Michael G. Cortina May 2004 Article, Page 267 The author argues that mechanics-lien filers are protected from slander of title claims by the privilege for statements made during litigation.
Real Estate Transfer Tax Regulations Amended to Prohibit Effective Double-Taxing of Real Estate Entities P.A. 93-0657 May 2004 Illinois Law Update, Page 242 Effective June 1st, limits are imposed to stop effectively double-taxing some real estate entities.
2003 Illinois Supreme Court Civil Cases: Fees and Family Law, “No” to Immunity, and More By Nancy J. Arnold and Tim Eaton April 2004 Article, Page 180 A look at last year's leading supreme court civil cases.
How to represent an apartment buyer By Helen W. Gunnarsson April 2004 LawPulse, Page 170 Contributors to an ISBA e-mail discussion group create a primer that describes what any attorney should insist upon when representing the buyer of an apartment building.
A New Look for Closings Comes to Local Title Offices By James K. Weston January 2004 Article, Page 43 A new law allows a title insurance company to file a certificate of release for any paid-off mortgage.
Non-breaching party to a real estate contract may seek, in addition to specific performance, damages for delay in the performance of the contract, provided that the damages are reasonably foreseeable. November 2003 Illinois Law Update, Page 550 On August 29, 2003, the Appellate Court of Illinois, First District, reversed the order of the Circuit Court of Cook County.
Mortgage Certificate of Relief Act amendments signed into law By Helen W. Gunnarsson September 2003 LawPulse, Page 430 Lenders often fail to send a certificate of release after a mortgage has been paid off. A new law addresses the problem.
Assessing reassessments By Helen W. Gunnarsson August 2003 LawPulse, Page 374 Appellate court precedent makes it difficult for assessors to change the valuation of property more often than once every four years. But what are the limits on assessors' authority to "revise and correct"?
Exception under Consumer Fraud Act for misleading statements inapplicable to realtors; amended complaint sufficiently pled claim of negligent misrepresentation, violations of Consumer Fraud Act, Real Estate License Act July 2003 Illinois Law Update, Page 332 On April 15, 2003, the Appellate Court of Illinois, Second District, affirmed in part and reversed and remanded in part the order of the circuit court of DuPage County dismissing the plaintiff's amended complaint with prejudice.
Proposed RESPA Regs Worry Real-Estate Bar By Helen W. Gunnarsson June 2003 LawPulse, Page 274 Real estate practitioners fear that proposed new regulations under the Real Estate Settlement Procedures Act spell trouble for consumers and lawyers.
The Illinois Supreme Court’s 2002 Civil Cases: A New Court Settles In By Nancy J. Arnold, Tim Eaton, and Michael T. Reagan April 2003 Article, Page 172 Our annual review of the leading cases.
Green-sheet blues By Helen W. Gunnarsson March 2003 LawPulse, Page 110 For purposes of calculating real estate transfer taxes, the "consideration" paid for a new house equals the original contract price and; whether your homeowner client likes it or not; the extras added later, real estate practitioners argue.
New guidelines created governing home loans P.A. 92-0531 March 2003 Illinois Law Update, Page 116 Recent amendments to the Deposit of State Moneys Act (15 ILCS 520/7) now permit approved financial institutions to place the interest earned by deposited state moneys in a separate account.
The “Religious Purposes” Property Tax Exemption and the First Amendment By James W. Hilliard October 2002 Article, Page 549 Here's how taxing authorities can determine whether property is being used for religious purposes without impermissibly inquiring into religious beliefs.
The truth about mold By Helen W. Gunnarsson October 2002 LawPulse, Page 506 If you practice real-estate law, it's time you learned the moldy facts.