Section Newsletters

Articles From Jack H. Tibbetts

Protecting clients from danger in a 1031 Safe Harbor By Jack H. Tibbetts Real Estate Law, June 2011 The IRS regulation 2010-14 is a welcome safe harbor for solving some of the confusion and taxation issues when a Qualified Intermediary in a 1031 exchange files for bankruptcy protection or is subject to a receivership proceeding.
The need to review Illinois residential installment contracts By Jack H. Tibbetts Real Estate Law, May 2010 When using an installment contract, the parties should always consider the impact of the Illinois mortgage foreclosure law as well as the title insurance needs at the time of closing.
Personal observations of 20 years with the Illinois mortgage foreclosure law By Jack H. Tibbetts Commercial Banking, Collections, and Bankruptcy, March 2009 The author's observations of what occurred in the drafting and implementation of the Illinois Mortgage Foreclosure Act.
Personal observations of 20 years with the Illinois mortgage foreclosure law By Jack H. Tibbetts Real Estate Law, January 2009 The author provides his insight as a member of the ISBA committee that helped draft the IMFL, and his review of the law 20 years after its adoption.
New bankruptcy law changes for nonresidential landlords and tenants By Jack H. Tibbetts Commercial Banking, Collections, and Bankruptcy, September 2006 The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 became effective October 17, 2005.
New bankruptcy law changes for nonresidential landlords and tenants By Jack H. Tibbetts Real Estate Law, May 2006 The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 became effective October 17, 2005.
The new statutory Residential Tenants’ Right to Repair Act By Jack H. Tibbetts Real Estate Law, June 2005 The ISBA Real Estate Law Section Council this year worked with legislative leaders and their staff to draft a new statute to create a limited right for residential tenants to deduct from rent the cost of repairs required by the lease or law.
Construction necessitated zoning variations By Jack H. Tibbetts Real Estate Law, November 2004 An unusual situation occurred in Oak Park recently.
Illinois Supreme Court finds municipal demolition statute constitutional By Jack H. Tibbetts Real Estate Law, March 2004 The Illinois Supreme Court on February 20, 2004 reversed the Illinois Second District Appellate Court and found the Illinois statute contained at 65 I.L.C.S. 5/11-31-1 constitutional.
The standard of review for granting or denying special use permits significantly changed By Jack H. Tibbetts Real Estate Law, August 2003 The Illinois Supreme Court has in two recent cases changed the standard for review of the granting of a special use permit to administrative review and left the standard of review for zoning variances as de novo review.
Will the collapse of Enron end the synthetic lease? By Jack H. Tibbetts Real Estate Law, October 2002 The collapse of Enron raises the issue of the propriety of using synthetic leases to keep the cost of purchasing real estate from the corporate reports of profit. The synthetic lease is used to purchase property by financing it as a lump sum payment in the future and paying the interest on the loan during the current years.
Lease renewal rules have been clarified By Jack H. Tibbetts Real Estate Law, March 2001 The determination of whether a lease is automatically renewed by a tenant continuing to holdover by agreement has been clarified by a new Illinois law.
The duty of a lessor to mitigate damages of a defaulting lessee when the lease has a liquidated damages clause By Jack H. Tibbetts Real Estate Law, May 2000 Illinois law mandates a lessor has a duty to mitigate damages of a defaulting lessee. This duty was created by a statute effective January 1,1984.

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