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Real Estate LawThe newsletter of the ISBA’s Section on Real Estate Law

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Newsletter articles from 2003

Answers to quiz: February 2003 1. a, c 2. b, c 3. a, c
Attorney billing practices: What is a consumer of legal services to think? By G.A. Finch August 2003 An in-house counsel for a publicly traded company with national operations approached me and asked me to speak at a seminar for in-house lawyers. I said, "Sure.
Brief analysis and comment on Hogan v. Adams, a case under the Illinois Residential Real Property Disclosure Ac By Elizabeth A. Urbance June 2003 This article reviews and analyzes the facts and some of the lessons to be learned from a recent decision of the Appellate Court for the Fourth District in Illinois.
Dueling surveyors: Post-appellate issues of Hasselbring v. Lizzio By Richard F. Bales October 2003 I have always been interested in water law and the various issues surrounding riparian rights.
Editor’s note October 2003 This is an all-star issue, with articles by Samuel Levine, Jack Murray and Dick Bales! Regular readers will recognize these experts from prior issues and numerous other real estate publications.
Editor’s notes September 2003 If your practice involves any tax-deferred exchanges of real property, the first article in this issue is a must read. Internal Revenue Code § 1031(f), read literally, provides that if a taxpayer exchanges like-kind property with a related party, the tax deferral will be denied if the property acquired from or transferred to the related party is disposed of within two years.
Editor’s notes August 2003 A topic that many of us would rather avoid is attorney billing practices. G. A. Finch, a former member of the Real Estate Law Section Council, has shared an excellent article that should help all of us be more effective when billing.
Editor’s notes June 2003 The real estate bar has lost a true friend and perhaps its most ardent educator. Harold I. Levine passed away in May following an illness.
Editor’s notes February 2003 We are starting this issue with a short quiz. Did you pass the quiz in the previous issue?
Excerpts from minutes of meeting of Real Estate Law Section Council February 2003 Samuel Levine, in Gary Gehlbach's absence, reported that there is only one article "in the bank" for future publication.
Excerpts from Minutes of Real Estate Law Section Council meeting By Joseph R. Fortunato Jr. September 2003 The June 21, 2003, meeting of the Real Estate Law Section Council of the Illinois State Bar Association was called to order at 9:30 a.m. at The Abbey Resort & Fontana Spa, Fontana, Wisconsin, by Samuel Levine, Chair.
Excerpts from minutes of the March 19, 2003, meeting of the Real Estate Law Section Council By Laurence F. Johnson June 2003 An updated roster and current section enrollment numbers were reviewed. Andy Dystrup will explore with the ISBA whether enrollment at one of the Real Estate Law updates could include a "complimentary membership" to the section for one year.
Federal preemption of state prepayment-penalty statutes: Back to the future? By John C. Murray October 2003 Federal associations have, for many years, been able to include prepayment penalty clauses in commercial loan documents and enforce such clauses according to their terms, regardless of any state law to the contrary (including equitable principles). C.F.R. §§ 545.2 and 545.34(c), as amended at 49 F.R. 43044 (1984), authorize a federal association to include a prepayment penalty clause in any loan it makes and to enforce such a clause in accordance with its terms regardless of any state law-including equitable principles in a foreclosure action-that purports to prohibit the collection of a prepayment penalty under certain circumstances.
From the construction corner By Margery Newman February 2003 The recent case of Luise, Inc. v. Village of Skokie, 335 IllApp3d 672, 781 NE2d 353 (1st Dist. 2003) (Luise) has further defined what constitutes lienable work under section 23 of the Illinois Mechanics Lien Act (the Act).
Insurer uses termites to pursue home seller By Gary R. Gehlbach October 2003 Evidence that sellers of a residence concealed active termite infestation was sufficient for the buyers' homeowners' insurance company to collect from the sellers.
Issues relating to toxic mold By Margery Newman August 2003 Frequently, in the construction industry, a "hot issue" overtakes the industry. The latest "hot issue" is mold-related lawsuits relating to residential and office buildings.
Lien cuisine- A cornucopia of recent mechanics lien and construction law cases By Samuel H. Levine October 2003 The current Mechanics Lien Act was adopted in 1903. This year we are celebrating its 100th anniversary. Despite the mechanics lien law's age, it is still evolving.
Mortgage defense 102: Pleading fraud By Harold I. Levine June 2003 Part I of this article1 dealt briefly with the concept of preemption. It stated: "The most favored defense of lenders is preemption.
The new and improved Multi-Board Residential Real Estate Contract By Joseph R. Fortunato February 2003 Transactional practitioners in Chicago and the collar counties may be familiar with a four-page real estate contract form entitled "Residential Real Estate Contract" known colloquially as the "Common Contract."
New laws from the 93rd General Assembly, 2003 Spring Session By James K. Weston Sr. September 2003 H 1584: Condominium Act amended to permit absentee voting as an alternative to proxies. Numerous rules pertaining to the implementation of the changes are promulgated. [P. A. 93-0243; effective January 1, 2004].
Practice tips By Donald L. Shriver August 2003 On March 20, 2003, the Fourth District Appellate Court of Illinois decided Rothers Construction, Inc. v. Centurion Industries, Inc., et al., 272 Ill.Dec. 105, 786 NE2d 644.
Recent DUI cases By Thomas M. Moran and James J. Ahern September 2003 Recent DUI cases.
Revenue ruling limits related party exchanges By Suzanne Goldstein Baker September 2003 A Revenue Ruling issued by the Internal Revenue Service on November 26, 2002, added a 10-penny nail to the coffin of a certain type of tax-deferred exchange among related parties.
Revival of a clause requiring rent payment in gold? Only with a lease amendment By David S. Horwitch February 2003 On March 21, 2002, the Illinois Appellate Court, Fourth Division, decided Nebel, Inc. v. The Mid-City National Bank of Chicago, an appeal from the Circuit Court of Cook County, Illinois.
A short quiz February 2003 1. A provision in a lease requiring the rent to be paid in gold is enforceable if:
The standard of review for granting or denying special use permits significantly changed By Jack H. Tibbetts 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.