Illinois Bar Journal


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Articles on Real Estate Law

Eminent Domain: A New Valuation Timetable By James M. Wagner and Patrick J. Kelly September 2012 Article, Page 486 A recent case holds that compensation must reflect the value of the property when the payment is made, not earlier when the condemnation complaint was filed.
Law provides a property tax exemption for homes rebuilt after a natural disaster. PA 097-0716 September 2012 Illinois Law Update, Page 464 Illinois lawmakers have amended the Property Tax Code by adding section 15-173.
New cases every real-estate lawyer should read By Adam W. Lasker September 2012 LawPulse, Page 458 Real-estate practitioners should be sure to read recent decisions on the duty of title insurers, the content of mortgage documents, and recording of deeds and mortgages.
Exhaustion of Administrative Remedies in Property Tax Assessment Appeals after Millennium Park By Antonio Senagore August 2012 Article, Page 434 The Illinois Supreme Court recently held that a taxpayer could skip the administrative appeal process and challenge a property tax assessment directly in circuit court.
A Modest Proposal - Liability for Negligence in Property Inspections By Joseph R. Fortunato, Jr. April 2012 Column, Page 220 Is it time for legislation that voids liability limitations in property inspectors' contracts?
Practitioners and title industry unite to iron out new TODI law By Adam W. Lasker April 2012 LawPulse, Page 178 Title companies are working with drafters of the new transfer-on-death-instrument law to clear up questions and help prevent uncertainty.
Three Title Insurance Traps for Real Estate Lawyers By Michael J. Rooney March 2012 Article, Page 146 Closing protection letters, the Form DS-1 disclosure, and key 2010 revisions to the Rules of Professional Conduct are potential pitfalls for real estate lawyers.
Homestead and the “Purchase Money Mortgage” Exception By Joseph R. Fortunato, Jr. January 2012 Column, Page 52 When only one spouse takes title to the house, must the other sign the mortgage?
The Transfer on Death Instrument Comes to Illinois By Charles G. Brown December 2011 Article, Page 618 Effective January 1, Illinois law gives your clients a convenient way to transfer residential real estate outside of probate. Here's a review of the new law by one of its drafters.
New scams target real estate lawyers By Helen W. Gunnarsson November 2011 LawPulse, Page 550 Scammers are using smartphones and apps to steal home-sale proceeds.
Active Duty Military: A Special Class of Distressed Homeowners By Steven B. Bashaw October 2011 Column, Page 532 Being forced to sell a home in this economy is a recipe for financial misery.
2011 Spring Session Legislative Roundup By Jim Covington August 2011 Column, Page 392 A summary of key legislation from this year's session.
Statute of repose bars legal malpractice claim By Helen W. Gunnarsson August 2011 LawPulse, Page 382 A plaintiff who sued a lawyer for malpractice in the preparation of a quitclaim deed was too late because any injury occurred when the deed was prepared, not later when her husband died.
The New Chicago Condominium Conversion Ordinance By Joseph Fortunato July 2011 Column, Page 366 It protects renters whose apartments are being converted and buyers of the new condos.
How to Be a Good Closer By Helen W. Gunnarsson June 2011 Article, Page 290 In baseball and residential real estate practice alike, it often comes down to the last inning when a lights-out closer can make the difference. Here are tips from veteran lawyers about what you might encounter at a real estate closing and how to handle it.
K. Miller: The Supreme Court and the Home Repair and Remodeling Act By Barbara A. Farrell June 2011 Article, Page 302 The Illinois Supreme Court interpreted the old Home Repair and Remodeling Act in light of the newly amended version and rendered a contractor-friendly decision.
New regulations for real estate licensing June 2011 Illinois Law Update, Page 286 The Illinois Department of Financial and Professional Regulation recently repealed and replaced the majority of the Real Estate License Act of 2000 with an updated and reorganized version. 68 Ill Adm Code 1450.
Unpaid Condominium Assessments - Who’s on the Hook? By Joseph R. Fortunato April 2011 Column, Page 208 To what extent are purchasers of a condominium unit at a foreclosure sale liable to an association for unpaid assessments?
Can civil partners hold property as tenants by the entirety? By Helen W. Gunnarsson March 2011 LawPulse, Page 118 The consensus among leading ISBA and other real estate practitioners appears to be "yes." Now that Governor Quinn has signed the Religious Freedom Protection and Civil Union Act into law as PA 96-1513, lawyers across the state are considering the statute's effect on specific aspects of their practices.
Why Commercial Landlords Should Stop Worrying and Learn to Love Arbitration By Shorge Sato March 2011 Article, Page 144 The Illinois Supreme Court's Carter decision holds that arbitration provisions can trump the statutory right to a jury trial contained in the Forcible Entry and Detainer Act, this author argues.
Are Nonprofit Hospitals Charitable Institutions? By Antonio Senagore February 2011 Article, Page 96 Is a nonprofit hospital a "charitable use" that qualifies for a property tax exemption? The author reviews the Illinois Supreme Court's Provena decision and predicts its likely effects, one of which is legislation to protect hospitals.
Counties with more than three million residents required to accept credit card property tax payments. PA 096-1248 January 2011 Illinois Law Update, Page 16 Beginning on January 1, 2012, a county with a population of more than three million is obligated to accept credit card payments for each installment of property taxes. (35 ILCS 200/20-25).
Distressed Homeowners Need Lawyers, Not Legislation By Steven B. Bashaw and Joseph R. Fortunato January 2011 Column, Page 44 Those faced with foreclosure need legal advice, not more legislation.
Property owners can seek tax reimbursement for annexed properties. PA 096-1351 January 2011 Illinois Law Update, Page 16 Under amendments to the Property Tax Code, property owners can seek reimbursement for taxes paid on annexed property beginning in the 2010 tax year. 35 ILCS 200/20-27.
Transfer fee covenants prohibited. PA 096-1345 January 2011 Illinois Law Update, Page 16 The Illinois General Assembly has prohibited transfer fee covenants, declaring them an impairment of the marketability and transferability of property.
Changes in forms of property tax payment. PA 096-1250 October 2010 Illinois Law Update, Page 508 The Property Tax Code has been amended regarding the payment of taxes. (35 ILCS 200/20-25).
Foreclosure and Divorce - Borrower’s Rights in the Face of Two “Wrongs” By Joseph R. Fortunato and Steven B. Bashaw October 2010 Column, Page 544 Should your divorcing, foreclosedupon client consolidate the foreclosure with the divorce?
The Impact of ABN AMRO v McGahan on Already-Issued Foreclosures By Kevin M. Hudspeth October 2010 Article, Page 520 Does a recent Illinois Supreme Court opinion render some alreadyissued foreclosure orders voidable? If so, what might that mean for the property and subsequent buyers?
The New, Improved Home Repair and Remodeling Act By Adam B. Whiteman September 2010 Article, Page 462 ISBA-inspired changes specify that a homeowner's remedy for an HRRA violation is to sue under the Consumer Fraud and Deceptive Business Practices Act.
Reinstatement of real estate license. PA 096-0989 September 2010 Illinois Law Update, Page 452 The Real Estate License Act has been amended to enable managing broker licensees, brokers, and leasing agents more flexibility in renewing their license. (225 ILCS 454/5-50)