Real Estate Law Update - 2008

Presented by the ISBA Real Estate Law Section

Bloomington
Wednesday, October 22, 2008
The Doubletree
10 Brickyard Drive (map and directions)
9:00 a.m. to 4:30 p.m.
Register Now!

Lombard
Wednesday, October 29, 2008
Lindner Conference Center
610 E. Butterfield Rd (map and directions)
9:00 a.m. to 4:30 p.m.
Register Now!

5.75 MCLE credit hours, including 1.0* hour of Professional Responsibility MCLE Credit

Today’s volatile real estate market is generating questions and new issues, including legal issues. Changes in real estate law occur frequently and this program will help sort through those changes and answer your questions. Participants will be provided with updates on legislative changes and case law. Our speakers will also address tax free exchanges, tax protests/assessment appeals, foreclosure issues, disclosure reports, and ethical considerations for avoiding mortgage fraud. If you are an attorney in the real estate law field, this program is sure to be a benefit. 

Program Coordinators:
Michael L. English, Russell, English, Scoma, & Beneke, P.C., Princeton
Myles L. Jacobs, Brumund, Jacobs, Hammel & Davidson, L.L.C., Joliet

Program Moderator:
Gary R. Gehlbach, Ehrmann, Gehlbach, Badger & Lee, Dixon (Bloomington program)
Myles L. Jacobs (Lombard program)

9:00 – 9:10 a.m. Introduction
Gary R. Gehlbach (Bloomington program)
Myles L. Jacobs (Lombard program)

9:10 – 9:40 a.m. Legislative Update
Our speaker will review legislation enacted during the legislative session.
Marylou Lowder Kent, President, Land Title Services of Illinois, Springfield

9:40 – 10:40 a.m. Case Law Update
This session will address recent court decisions affecting the real estate practice.
Steven B. Bashaw, Steven B. Bashaw, P.C., Oak Brook
Joseph R. Fortunato Jr., Fortunato, Knobbe, Davenport & Arnold, Ltd., Westmont

10:40 – 10:50 a.m. Break

10:50 – 11:50 a.m. Tax Free Exchanges
In this segment, our speaker will discuss the rules pertaining to tax deferred exchanges under Internal Revenue Code Section 1031, including direct exchanges, deferred exchanges and reverse exchanges.
Jack H. Tibbetts, Arlington Heights

11:50 a.m. – 12:20 p.m. Tax Protests/Assessment Appeals
This presentation will be a primer on representation of clients in challenging property tax assessments in light of declining real estate values.
Brian P. Liston, Liston & Lafakis, P.C., Chicago

12:20 – 1:30 p.m. Lunch on your own

1:30 – 2:20 p.m. Short Sales, Deed in Lieu of Foreclosure, Consent Foreclosure and Purchasing at a Foreclosure Sale
The panelists will discuss practical methods of assisting mortgagors in refinancing sub-prime loans and in terminating their interest in real estate.  They will also review the pitfalls of purchasing property at a foreclosure sale or property repossessed by a lender.
Myles L. Jacobs, Brumund, Jacobs, Hammel & Davidson, Joliet
Robert J. Duffin, First American Title Insurance Company, Warrenville

2:20 – 3:20 p.m. Disclosure Report Misrepresentation/Fraud
An analysis of the causes of action available for misrepresentations in seller disclosure reports, contractual misrepresentations and common law fraud will be provided.
Andrew C. Dystrup, Davis, Dystrup & Hoster, Joliet

3:20 – 3:30 p.m. Break

3:30 – 4:30 p.m. Avoiding Mortgage Fraud – Ethical Considerations for Attorneys*
Coping with your duty to client vs. ethical and/or legal obligations. There will be a discussion on how to handle suspected mortgage fraud, how to identify fraudulent activity, and how many roles can you have in a single transaction.
James Doppke, Illinois Attorney Registration & Disciplinary Commission (Bloomington Program)
Brenda Grauer, Illinois Attorney General Mortgage Rescue, Fraud Unit (Lombard Program)
Judge Robert G. Moss, Chicago

*PMCLE credit subject to review