The newsletter of the ISBA’s Section on Real Estate Law
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Newsletter articles from 2006
2006 legislative report
Several new acts relating to the practice of real estate law, passed by the Legislature during the 2006 session of the 94th General Assembly, have now been signed by the Governor and have become law.
The ALTA 2006 title insurance policies and the issuance of survey coverage
The purpose of this article is three-fold: (1), to set forth the survey-related changes to these new policies; (2), to suggest one method of addressing these changes; and (3), to provide a basis by which Illinois title companies can decide how to issue survey coverage under these title policies.
Alternative dispute resolution
Alternative dispute resolution, also referred to as “ADR,” is a way to settle disputes outside of the courthouse. ADR encompasses several types of processes, including arbitration,mediation, conciliation, mini-trial and other types of non-litigation dispute resolution.
Application of the Construction Statute of Limitations
In Prate Installations, Inc., v. Thomas, the Illinois Second District Court of Appeals held that the four-year limitations period contained in the Construction Statute of Limitations, 735 ILCS 5/13-214(a), cannot be used by a homeowner as an affirmative defense to an action by a contractor for non-payment under a construction contract.
Assignability of special use permits
In the counties and municipalities in which I practice, it is routine for many property uses to be permissible uses under a certain zoning classification, provided that the governing body grants a special use permit.
The Carbon Monoxide Alarm Detector Act
Effective January 1, 2007, the Carbon Monoxide Alarm Detector Act (PA 94-0741, HB 5284) requires that every dwelling be equipped with an approved carbon monoxide alarm within 15 feet of every room used for sleeping purposes.
A casenote: First Midwest Bank v. Stewart Title Guaranty Company
The court in First Midwest Bank, N.A. v. Stewart Title Guaranty Company, held that the issuance of a title commitment is not the sale of information concerning the state of title and therefore did not fall within the negligent misrepresentation exception to the Moorman Doctrine.
Even in the hinterlands of Northwest Illinois, more and more real estate transactions include surveys.
Except for the veto sessions, the 94th General Assembly is history.
The May 2006 issue of this newsletter featured the first of a series of articles that Bob Duffin and Myles Jacobs have promised, in which they describe an actual scenario that posed a legal dilemma, the solution chosen, and alternative approaches.
The area of real estate law is diverse. It encompasses both transactional and litigation issues.
This issue inaugurates a new feature. Myles Jacobs and Bob Duffin, longtime members of the Real Estate Law Section Council and dedicated real estate practitioners, are sharing actual experiences from their practices.
The Illinois Supreme Court decision, First Midwest Bank v. Stewart Title Guaranty Company, earlier this year has generated considerable discussion and opinions, and several articles for this publication
Over the years the Real Estate Law Section Council has been blessed with some top-notch attorneys in the area of construction law.
On November 5, 2005, the federal Environmental Protection Agency published its Final Rule for Standards and Practices for All Appropriate Inquiry under the Environmental Protection Act.
Equitable subrogation—Mechanics’ Lien Priority
Recently, in Lamb Excavation, Inc. v. Chase Manhattan Mortgage Corporation, the Arizona Court of Appeals decided that a refinancing lender may successfully assert the doctrine of equitable subrogation over the claims of mechanics’ lien claimants to obtain lien priority over the lien claimants.
Illinois Snow Act encourages safety, not liability
In a recent Illinois appellate decision, the court held that a paved walkway on residential property constitutes a “sidewalk” under the Illinois Snow and Ice Removal Act (the Act), 745 ILCS 75/2 (2000).
Letter to the Editor
I read with interest the first “scenario” of Duffin and Jacobs in the May 2006 Newsletter involving an incorrect legal description.
Minimum continuing legal education and the Commission on Professionalism
In order to assure the public that attorneys licensed to practice in Illinois “remain current regarding the requisite knowledge and skills necessary to fulfill the professional responsibility and obligations of their respective practices and thereby improve the standards of the profession,” the Supreme Court of Illinois entered an order September 29, 2005, as amended on December 6, 2005, requiring attorneys who practice law in Illinois to obtain Minimum Continuing Legal Education (“MCLE”) and creating a board (the “Board”) to administer the new requirements.
Mold risks in construction projects
The presence of water where it should not be is a significant construction defect issue that has generated an enormous amount of litigation within the last few years.
A related party exchange that should work
There apparently is a useful exception to an exception that will allow related parties to engage in an exchange that is tax-deferred under Internal Revenue Code section 1031.