Illinois Bar Journal


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Articles on Real Estate Law

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.
Stifling ‘sovereign citizens’: tougher penalties for unlawful clouding of title By Adam W. Lasker November 2013 LawPulse, Page 554 In response to false liens against public officials' property filed by so-called "sovereign citizens," the Illinois legislature upgrades false title-clouding from a misdemeanor to a felony.
Challenging a Trustee Plaintiff’s Standing to Maintain a Foreclosure Action in Illinois By Damon Ritenhouse and Prashant Vallury October 2013 Article, Page 522 The authors describe a new strategy to help defend against trustee plaintiffs who may lack proper standing to bring a foreclosure suit.
Additional fees for recording a document affecting a real property interest. PA 098-0005 August 2013 Illinois Law Update, Page 392 To record a document affecting a real property interest, not including documents solely related to easements for water, sewer, electricity, gas, telephone, or other public services, the filer of the document (excluding a state agency, local government, or school district) will be charged $1 per document by the recorder. 55 ILCS 5/3-5018.
Fracking Comes to Illinois By Leonard S. Kurfirst and Colin P. O’Donovan August 2013 Article, Page 404 What exactly is fracking? How big an impact might it have in Illinois? This article reviews the process and the new state law.
Affordable Housing Planning and Appeal Act regulations specify appeals process for developers July 2013 Illinois Law Update, Page 336 Newly enacted regulatory provisions, effective March 29, 2013, authorize the Illinois Housing Development Authority to adopt rules implementing the responsibilities of the State Housing Appeals Board (the "Board") under the Affordable Housing Planning and Appeal Act, 310 ILCS 67/60.
County recorders can investigate fraud, bill provides By Adam W. Lasker July 2013 LawPulse, Page 330 The controversial bill would empower recorders to red-flag deeds and other documents that appear fraudulent. Wary real estate practitioners have a wait-and-see attitude.
Forcing Lenders to Comply with the Home Affordable Modification Program By Andrew J. Hawes June 2013 Article, Page 308 The seventh circuit rules that borrowers can sue lenders for state law breach of contract and other claims related to a trial period plan payment agreement.
Home rule rules, says the Illinois Supreme Court By Adam W. Lasker June 2013 LawPulse, Page 278 Ordinances enacted by home rule municipalities trump state statutes unless the state expressly exercises exclusive control, the supreme court rules in a condo case.
Mortgage Fraud and E&O Insurance: Making Sure There’s Something to Sue For By Kurt B. Drain May 2013 Article, Page 250 Too often, lenders win mortgage-fraud judgments against defendants who turn out to be judgment proof. The solution? Ensure that mortgage brokers have adequate E&O coverage.
Court clarifies standards for confirmation of levy sales April 2013 Illinois Law Update, Page 176 On January 22, 2013, the Illinois Appellate Court, First District, held that a levy sale of an undivided half-interest in a single-family home for $120,000 less than its appraised value was not unconscionable or unjust.
A New Law Overturns Cypress Creek By Joseph R. Fortunato April 2013 Column, Page 204 A new law puts contractors with secured liens ahead of lenders.