The newsletter of the ISBA’s Section on Real Estate Law
Browse articles by year: 2015 (2)
Newsletter articles from 2007
Mortgage foreclosure redemptions under IMFL
Note: The following should be substituted for the final two paragraphs of Mr. Liss’ article that appeared in the November 2007 issue of this publication. – ed.
Overview of attorney review cases
Contract forms have contained clauses described variously as “Attorney Approval,” “Attorney Modification,” “Attorney Disapproval” and “Attorney Review.”
The Real Estate Law Section Council
By the time this edition of the Real Property newsletter hits your desk (preferably your computer screen), ISBA’s program year will be well under way.
Related-party exchange approved
In the August 2006 issue of this publication, I outlined a procedure for a related party tax-deferred exchange, actually sanctioned by Congress (Vol. 52, No. 1).
The scope of an engagement
When one is retained to do legal work for a client, normally the scope of work to be done is reasonably clear.
The Series LLC
Business owners, particularly those owning rental real estate or small businesses, often organize limited liability companies (LLCs) to own assets and insulate them from personal liability.
Solving the problem of the over-inclusive deed
In the fact situation presented last month, the trustee suggested that the deed be rerecorded to delete any reference to the metes and bounds description in order to solve the ambiguity. All too often this approach is used and causes many problems.
Teaming Agreements: an agreement to agree
Teaming agreements are generally single purpose, temporary business arrangements in which two (2) or more separate companies join together for the specific purpose of obtaining and performing a construction contract.
Trouble, with a capital “T”
There can be some serious pitfalls facing a lawyer who neither knows nor clarifies who the client is and what that client really wants to accomplish.
Vacation homes and Section 1031
Section 1031 of the Internal Revenue Code and the Regulations promulgated thereunder rather clearly provide that eligible property must be “held for productive use in a trade or business or for investment.”
When a foreclosure sale preempts mortgagor’s right to sell
In Household Bank, FSB, v. Lewis et al., 311 Ill.Dec. 677, 869 N.E.2d 351, the First District of the Illinois Appellate Court reversed the Cook County trial court, finding that the expiration of the mortgagors’ statutory right of redemption precluded the mortgagors from selling the property.