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

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Newsletter articles from 2008

Residential contractors (and subcontractors) BEWARE! The Home Remodeling and Repair Act prevents mechanic’s liens on a residence when there is an oral contract for work that exceeds $1,000 By Adam B. Whiteman March 2008 In January of 2000, a law went into effect that makes it unlawful for any person engaged in the business of home repairs and remodeling to remodel or make repairs or charge for remodeling or repair work over $1,000 without first obtaining a signed contract or work order.
Short sales: a primer By Gary R. Gehlbach March 2008 With the housing market severely distressed in some areas and mortgage foreclosures at record highs, the role of the real estate attorney has expanded.
Should a utility company be responsible for property taxes on a utility easement? By Francis W. O’Malley February 2008 Most properties are encumbered by easements of utilities or regulated entities, such as gas, power or telecommunications easements.
Supreme Court settles dispute between appellate districts By Gary R. Gehlbach February 2008 As reported in my Editor’s note in the February 2007 issue (Vo. 52, No. 6), the issue of whether a real estate tax proration merges with the deed has depended on the appellate district.
Tax law changes pursuant to the Housing Assistance Tax Act of 2008 By Emily R. Vivian October 2008 On July 30, 2008, President Bush signed the Housing Assistance Tax Act of 2008 (the “Housing Act”) which provides several important tax law changes, including, in part, a temporary tax credit for first-time homebuyers, a new property tax deduction for people who do not itemize, and a new restriction on the ability of homeowners to exclude from their income the capital gain on the sale of their principal residence.
Vacation homes and Section 1031 By Gary R. Gehlbach April 2008 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.”
Who’s liable? By Myles Jacobs and Robert Duffin March 2008 An attorney represents a client whose house is in foreclosure.