Three Title Insurance Traps for Real Estate LawyersBy Michael J. RooneyMarch 2012Article, Page 146Closing protection letters, the Form DS-1 disclosure, and key 2010 revisions to the Rules of Professional Conduct are potential pitfalls for real estate lawyers.
The Transfer on Death Instrument Comes to IllinoisBy Charles G. BrownDecember 2011Article, Page 618Effective 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.
Statute of repose bars legal malpractice claimBy Helen W. GunnarssonAugust 2011LawPulse, Page 382A 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.
How to Be a Good CloserBy Helen W. GunnarssonJune 2011Article, Page 290In 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.
New regulations for real estate licensingJune 2011Illinois Law Update, Page 286The Illinois Department of Financial and Professional Regulation recently repealed and replaced the majority of the Real Estate License Act of 2000 with an updated and reorganized version. 68 Ill Adm Code 1450.
Can civil partners hold property as tenants by the entirety?By Helen W. GunnarssonMarch 2011LawPulse, Page 118The 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.
Are Nonprofit Hospitals Charitable Institutions?By Antonio SenagoreFebruary 2011Article, Page 96Is 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.
Transfer fee covenants prohibited. PA 096-1345January 2011Illinois Law Update, Page 16The Illinois General Assembly has prohibited transfer fee covenants, declaring them an impairment of the marketability and transferability of property.
The New, Improved Home Repair and Remodeling ActBy Adam B. WhitemanSeptember 2010Article, Page 462ISBA-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 096-0989September 2010Illinois Law Update, Page 452The 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)
Tenancy by the entirety gets a boostBy Helen W. GunnarssonSeptember 2010LawPulse, Page 446Spouses no longer must choose between the protection against creditors provided by tenancy by the entirety and the estate-planning advantages of a revocable inter vivos trust.
ABN AMRO: A victory for the foreclosed-uponBy Helen W. GunnarssonAugust 2010LawPulse, Page 394The Illinois Supreme Court holds that in a foreclosure suit, the mortgage lender must name (and thus notify) the personal representative of a deceased borrower before the trial court can hear the case.