Green-sheet bluesBy Helen W. GunnarssonMarch 2003LawPulse, Page 110For purposes of calculating real estate transfer taxes, the "consideration" paid for a new house equals the original contract price and; whether your homeowner client likes it or not; the extras added later, real estate practitioners argue.
New guidelines created governing home loans P.A. 92-0531March 2003Illinois Law Update, Page 116Recent amendments to the Deposit of State Moneys Act (15 ILCS 520/7) now permit approved financial institutions to place the interest earned by deposited state moneys in a separate account.
Uncle Sam sidesteps tenancy-by-the-entirety restrictionsBy Helen W. GunnarssonJuly 2002LawPulse, Page 338A recent U.S. Supreme Court case holds that tax liens against one spouse attach to property held in tenancy by the entirety by both spouses, putting the IRS in a better position than other creditors.
A Primer on Eminent DomainBy Jack H. TibbettsJune 2002Article, Page 313An outline of the procedural requirements and recent cases.
A new law makes tenancy by the entirety easierBy Helen W. GunnarssonApril 2002LawPulse, Page 168Thanks to recent legislation, lawyers can create this under-appreciated form of ownership for their married clients without expressly stating in the deed that the parties are husband and wife.
IRPTA; goodbye and good riddanceBy Helen W. GunnarssonMarch 2002LawPulse, Page 114Real estate lawyers applaud the demise of the Illinois Responsible Property Transfer Act, which they say produced useless paperwork and little else.
New Legislation: Real-Estate RoundupBy Helen W. GunnarssonFebruary 2002LawPulse, Page 62Real estate; they're not making any more of it. But that doesn't mean they aren't passing new real-estate-related laws.
Housing discriminationOctober 2001Illinois Law Update, Page 516On July 17, 2001, the Illinois Department of Human Rights adopted amendments to section 2300 of the Illinois Administrative Code. 71 Ill Adm Code 2300.