Publications

Articles on Real Estate Law

House can be transferred to trust without deed, appellate court rules

By Matthew Hector
November
2015
LawPulse
Page 14
The Illinois Appellate Court in Mendelson held that when a trust instrument lists a house as part of the trust, the house belongs to the trust even if the deed was not formally transferred there. Critics worry the ruling could put unsuspecting purchasers at risk.

Can a trustee convey title to real property using a warranty deed instead of trustee’s deed?

October
2015
Article
Page 22
Can a trustee convey title using a warranty, not a trustee's, deed?

Using Letters of Intent in Commercial Real Estate Negotiations

By Stephen J. Siegel
October
2015
Article
Page 42
When you're negotiating commercial real estate transactions, letters of intent can help define significant points of agreement before a formal contract is signed. But use them with care.

New renewal timeline for residential mortgage licenses

September
2015
Illinois Law Update
Page 18
The Residential Mortgage License Act of 1987 has been amended, establishing a uniform renewal deadline and striking fee assessments for noncompliance.

New Residential Real Estate ‘Consummation’ Rules

By Timothy A. Slating
September
2015
Article
Page 24
New regulations will have a big impact on real estate lawyers.

New rules for guarantee funds under the Home Equity Assurance Act

July
2015
Illinois Law Update
Page 18
Under the Home Equity Assurance Act, a governing commission and program which is coined by referendum under this Act, will maintain a "guarantee fund" to pay costs of administering the program and protecting members under the limitations and procedures of the Act.

Probate and ‘Underwater’ Real Estate: The Promise of LaPlume

By Fredric Bryan Lesser and Jeffrey P. O’Kelley
June
2015
Article
Page 24
A groundbreaking appellate case holds that probate courts can sell an estate's "underwater" real property free and clear of all liens, including mortgage liens.

Buyer Beware: Advising Condominium Owners in Illinois

By Damon Ritenhouse
May
2015
Article
Page 24
Pointers for representing condo owners and prospective purchasers, particularly in light of the Illinois Supreme Court's recent Spanish Court ruling.

Real estate bills raise concerns among ISBA section councils

By Matthew Hector
May
2015
LawPulse
Page 10
Pending Illinois House and Senate bills could adversely affect condominium owners and contractors, among others.

Real estate owners may bring an action to extinguish an omitted subordinate interest on the property

February
2015
Illinois Law Update
Page 18
A holder of a certificate of sale on a piece of real estate, or any person who acquired title to a piece of real estate pursuant to 735 ILCS 5/15-1509, now has a right to file a strict foreclosure complaint upon discovering the real estate is subject to an omitted subordinate interest.

The Top 10 Things to Do Before Your First Residential Real Estate Transaction

By Heather M. Fritsch
February
2015
Article
Page 22
Hoping to represent home sellers and buyers? Taking these steps at the outset will help you get off to a smooth start.

Limits on condominium managerial board access to courts are void

January
2015
Illinois Law Update
Page 16
The Condominium Property Act is amended to protect certain rights of condominium managerial boards.

Prescriptive easements do not require exclusive possession

December
2014
Illinois Law Update
Page 572
On September 18, 2014, the Illinois Supreme Court held that the "exclusivity" element for prescriptive easements does not require exclusive possession for the statutory period, overruling contrary first district cases.

Dual Agency in Real Estate

By Mark S. Mathewson
November
2014
Column
Page 554
Like it or not, it's common for one agent to represent both buyer and seller.

Requirements for broker price opinions and comparative market analyses

November
2014
Illinois Law Update
Page 524
This new section of the Real Estate License Act of 2000 adds requirements for broker price opinions and comparative market analyses.

When Home Is Not So Sweet: Suing for Defective Residences

By James W. Springer
November
2014
Article
Page 546
What options are available to someone who buys a defective home? Here's an overview of various Illinois statutes and common law causes of action for disappointed home buyers.

New residential real estate contract incorporates common modifications

By Matthew Hector
October
2014
LawPulse
Page 466
A new version of the widely used multi-board real estate contract incorporates the most common changes lawyers made in its predecessor.

“Residential real estate” redefined for transfer on death instruments

October
2014
Illinois Law Update
Page 472
Residential condominium units as well as parking units or units specified by a declaration to be allocated to a specific residential condominium unit now fall under the penumbra of "residential real estate" in the Illinois Residential Real Property Transfer on Death Instrument Act.

Property tax bills going digital

July
2014
Illinois Law Update
Page 320
Upon written request from a property owner, township and county tax collectors may now email property owners their tax bills.

Property Tax Sales and Bankruptcy after Alexandrov v. LaMont

By Andrew J. Hawes
July
2014
Article
Page 346
The seventh circuit recently held that a homeowner debtor can extend the deadline to redeem property sold at a tax sale by declaring Chapter 13 bankruptcy. Find out what it means.

Representing a Home Seller? Be Ready to Act Fast

July
2014
Column
Page 354
Interview the client before the attorney-review window closes.

Changes to funding distribution under the Abandoned Residential Property Municipality Relief Program

June
2014
Illinois Law Update
Page 272
The Housing Development Authority has amended rules regarding the Abandoned Residential Property Municipality Relief Program. 47 Ill. Adm. Code 381 (eff. Mar. 10, 2014).

Condo unit owners can’t withhold payment

By Janan Hanna
June
2014
LawPulse
Page 266
Condo unit owners may not withhold assessments even if the condo association fails to make repairs and perform maintenance, a divided Illinois Supreme Court rules.

Long Odds: Commercial Mortgagors Fighting to Keep Their Property During Foreclosure Have Few Options

By Tracy Steindel Ickes
March
2014
Article
Page 144
Illinois law presumes lenders are entitled to possession of commercial property during foreclosure, and defendant-mortgagors aren't likely to overcome that presumption.

Sole member of LLC shielded from personal liability for alleged frauds committed by LLC

March
2014
Illinois Law Update
Page 120
On December 20, 2013, the Illinois First District Appellate Court, as a matter of first impression, held that the sole member of a limited liability company (LLC) that sold a condominium unit was not personally liable for alleged frauds committed by that LLC.

New real estate appraiser licensing requirements

February
2014
Illinois Law Update
Page 68
The Illinois Department of Financial and Professional Regulation adopted amendments regarding real estate appraiser licensing. 68 Ill. Adm. Code 1455 (eff. Dec. 31, 2013).

Meeting and vote required for dissolution of non-profit residential cooperatives

January
2014
Illinois Law Update
Page 16
The General Not For Profit Corporation Act of 1986 has been amended to impose new requirements on nonprofit corporations organized for the ownership or administration of a residential cooperative property.

New application requirements for title insurance agent registration

January
2014
Illinois Law Update
Page 16
Applicants for registration as title insurance agents will now have new requirements as part of their application. Whether the applicant is a person, firm, or other type of business organization, they must submit a signed and notarized affidavit affirming that the applicant, or any member, officer, or manager thereof, has never been convicted of or pled guilty to a felony, or a misdemeanor related to thievery or dishonesty.

No license needed to perform valuation waivers

January
2014
Illinois Law Update
Page 16
Employees of the Illinois Department of Transportation ("IDOT") without a state real estate appraisal license may now perform valuation waivers if they have: (1) completed at least forty-five hours of course work in real estate appraisal; and (2) have had at least two years of experience in a field "closely related to real estate."

Auction license holders will be able to obtain real estate auction certification to auction real estate

December
2013
Illinois Law Update
Page 612
A person holding a valid license under the Auction License Act (225 ILCS 407/5 et seq.) and a valid real estate auction certification under newly added section 5-32 of the Real Estate License Act of 2000 (225 ILCS 454/5-32) may now conduct real estate auctions.

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