Publications

Section Newsletter Articles on Real Property

Legislative update Real Estate Law, October 2009 A legislative note of interest to real estate law practitioners.
Beyond the title insurance policy: Protecting sellers of Illinois real estate By Michael J. Rooney Real Estate Law, September 2009 For purchasers and lenders, the new Standard CPL may suffice. For sellers, the new Standard CPL needs to be modified as described in this article. In either event, counsel can and should verify that the title agent has been properly registered with the Secretary, authorized to act as escrowee and that such authority has not been revoked or limited prior to the closing.
Case law update By Adam B. Whiteman Real Estate Law, September 2009 Summaries of two recent cases of interest to real property attorneys. 
LEED in real estate By Margery Newman Real Estate Law, September 2009 Leadership in Energy and Environmental Design (“LEED”), also known as green building, is taking hold across the country. According to the National Association of Home Builders “between 40 percent and 50 percent of the homes built in 2010 are expected to be green.” Here's what you need to know.
Reducing the risks associated with title agent closings By Adam B. Whiteman Real Estate Law, September 2009 Four suggestions to minimize the risk to seller clients.
Defining the contours of subrogation By Samuel H. Levine Real Estate Law, June 2009 Four recent cases have addressed the contours of equitable and conventional subrogation in the context of refinancing mortgagees.
Negotiating Loan Modifications for Clients By Tracie R. Porter and Michael W. van Zalingen Real Estate Law, June 2009 Homeowners need to know options are available when they find themselves having difficulty paying their mortgage. Whether the assistance comes through the lender/servicers or the federal government, homeowners need to know when to stay in the game and keep their homes, and when to count their losses and move out of a bad situation. Attorneys who are equipment with the information to help their clients will find that they can still provide real HOPE for continued home ownership for their clients.
Road map to closing on a co-operative apartment By Roberta C. Conwell Real Estate Law, June 2009 When the real estate practitioner encounters a co-op transaction for the first time, it is not a smooth ride. There are numerous roadblocks that pop up and you have to know how to get around them. This is not the same as selling a house or a condo. In the interest of saving yourself from having to re-invent the wheel, you can use the following roadmap as a starting point in your research.
The Cook County Board amends the Cook County Real Property Classification Ordinance By Leonard F. Amari, Vesna Marusic, and Katherine A. Amari Real Estate Law, April 2009 The changes with the newly adopted ordinance, as it is hoped by the enactors, would reduce the burden on homeowners the significant burden of the cost of government, but, arguably, real estate taxes will still result in property owners experiencing property tax increases. It is imperative to closely follow real property values and file annual assessment challenges to ensure reasonable taxation. Taxpayers have a host of remedies available in their attempt to reduce the assessment on their real property.
An examination of lease subordination issues in an economic downturn By David J. Alexander Real Estate Law, April 2009 If negotiating a lease as a tenant, tenant’s counsel or tenant’s broker, be certain that the basic language regarding subordination, non-disturbance and attornment is present and clearly stated so as to ensure that the tenant is adequately protected.
Update regarding First-Time Homebuyer Tax Credit By Emily R. Vivian Real Estate Law, April 2009 As part of the American Recovery and Reinvestment Act of 2009, the first-time homebuyer credit is extended to principal residences purchased before December 1, 2009.
The Doctrine of Merger: A vanishing rule Agricultural Law, March 2009 The Merger Doctrine still sees use in the state, although like many common law rules its position has changed over the years. As recently as 2008, the Illinois Supreme Court dealt with a case primarily focused on the doctrine, Czarobski v. Lata, 882 NE2d 536 (Ill 2008).
Need for a survey, a war story By Thomas Dalton Real Estate Law, February 2009 Everyone knows that as practitioners, we are oftentimes faced with a vast array of people in the real estate transactional practice who are not the normal residential homebuyers. 
Phase I Environmental Site Assessments: The familiar stranger By Phillip R. Van Ness Real Estate Law, February 2009 An attorney charged with guiding his or her Illinois client through a Phase I doesn’t have to understand the science behind it (although that surely won’t hurt). But he or she does have to know whether the Phase I at least prima facie appears to comport with the essential elements of a valid Phase I. At this point, it may be advisable to secure the services of an environmental lawyer, but even a non-technically trained lawyer can put together a checklist that greatly increases the odds that the client will have a Phase I it can rely on.  
Evaluating bulk sales liability in real estate transactions By Larry N. Woodard Real Estate Law, January 2009 This article is intended to provide a real estate attorney with basic information to quantify the risk of bulk sales liability to its purchaser client so both the client and attorney can evaluate the legal and business ramifications in purchasing real estate with potential bulk sale burdens.
Using title insurance to avoid probate or ancillary administration By Christopher M. Tietz Real Estate Law, January 2009 The author provides a sample Affidavit for Title Insurance that he prepared himself, which can be very useful in both accelerating the closing of an estate and reducing the attendant costs.
Legislative report By James K. Weston Sr. and MaryLou Lowder Kent Real Estate Law, December 2008 The second year of the 95th General Assembly was again one of the most active periods in legislative history.
A tax on real estate transfers pursuant to divorce—In Chicago now and coming soon to a municipality near you!! By Barbara Downs Family Law, November 2008 On October 6, 2008 the City of Chicago Finance Committee voted unanimously to support Alderman Burke’s proposed ordinance to exempt transfers of the marital home pursuant to a divorce or legal separation judgment from payment of the Chicago Real Estate Property Transfer Tax.
Essentials for a smooth closing: Part II—Condominium resales By Joel L. Chupack Real Estate Law, October 2008 The closing of a condominium resale entails additional considerations and a lot more interfacing with other entities than exist with the typical single-family home resale.
Navigating the short sale By Adam B. Whiteman Real Estate Law, October 2008 Your client has fallen behind in his mortgage payments and is served with a foreclosure complaint.
Recent decisions in real estate tax cases By Timothy E. Moran State and Local Taxation, October 2008 Two recent cases of interest to practitioners.
A tax on real estate transfers pursuant to divorce—In Chicago now and coming soon to a municipality near you!! By Barbara Downs Family Law, October 2008 We recently had a horrendous case involving the enforcement of the Chicago Real Estate Transfer Tax in an old divorce case. First, some background.
Editor’s note By Gary R. Gehlbach Real Estate Law, August 2008 For several decades I have steadfastly declined to prepare an installment contract for deed, only rarely and begrudgingly relenting.
Essentials for a smooth real estate closing By Tracie R. Porter Real Estate Law, August 2008 In order for a smooth closing to occur, all parties involved must be aware of their responsibilities for the closing, including what documents to bring or to send to the closing, what conditions need to be met prior to and at closing, and what the expectations are of the other parties involved in the transaction.
Final regs concerning funds used during § 1031 Exchanges of Like-Kind Property By Emily R. Vivian Real Estate Law, August 2008 After issuing several proposed regulations, the IRS has now issued final regulations concerning the treatment of income earned on like-kind exchange funds before the transaction has closed.
From the Chair By Gary R. Gehlbach Real Estate Law, July 2008 Perversely relishing the stress and frustration that every day (indeed, every hour or every few minutes) seems to bring, I secretly confess that I love the practice of law.
Public Act 095-0691: A mortgage crises remedy? By Kenneth E. Davies Real Estate Law, July 2008 This article will discuss the highlights of Public Act 095-0691 and will try to pose the basic question: How much of this new law is designed to solve the problems of the present and the past and how much of the new law is nothing more than a knee jerk reaction to a problem brought on by over-exuberate lenders and consumers?
Random thoughts on tenancy by the entirety By Richard F. Bales Real Estate Law, July 2008 Attorneys who represent home owners in mortgage foreclosure proceedings will routinely parse their clients’ real estate documentation, looking for defects or issues that they can use for their advantage. It seems clear that tenancy by the entirety might be a new (and potentially lethal) weapon in the arsenals of these attorneys.
Editor’s note By Gary R. Gehlbach Real Estate Law, June 2008 Congratulations! With considerable support from highly qualified authors, we have now published 12 issues this fiscal year, a record!
Letter to the editor By Mary Lin Nicholson Real Estate Law, June 2008 My first reaction was how can the ward’s guardian be both her aunt and her niece?