This One Is Not a ‘Taking’ Says the Seventh CircuitBy Michael J. RooneySenior Lawyers, June 2023A review of a recent case where the appellate court affirmed a district court dismissal of a claim that the government had “taken” plaintiffs’ property rights when it granted building permits for a residential development in a flood plain.
Overview of Bulk Sales Laws for Commercial Real Estate TransactionsBy Nicky SonntagReal Estate Law, May 2023To avoid later disputes between parties, issues related to obtaining bulk sales releases, payment of taxes owed by the seller, and the creation of any escrow required for payment of the bulk sales taxes should be addressed and negotiated in the terms of the purchase and sale agreement.
Floating Easements Don’t Always Float: The DilemmaBy Ted M. NiemannReal Estate Law, March 2023In the event your Illinois real estate practice involves representing clients who purchase, sell, or develop retail shopping centers, industrial subdivisions or farm real estate, you may encounter floating easements.
FYIReal Estate Law, March 2023A summary of the Real Estate Section Council's recent legislative vote tally.
The Escrow Dilemma: Handling Earnest Money and Escrow HoldbacksBy Bob Floss, IIReal Estate Law, February 2023With the recent and sudden decline in real estate brokerages holding earnest money, it is not uncommon for realtors to ask an attorney to hold earnest money.
A New Statutory Special Warranty Deed—and MoreBy Richard F. BalesReal Estate Law, February 2023The real estate attorney now has three options when it comes to preparing and accepting special warranty deeds—two statutory deeds and a customized deed.
The Real Estate P.O.A.By Michael J. MaslankaReal Estate Law, February 2023Many real estate attorneys have their clients sign powers of attorney for property to allow the attorneys to sign various real estate transaction documents for them. If this occurs, the attorney must be aware of some crucial points.
This One Is Not a ‘Taking’ Says the Seventh CircuitBy Michael J. RooneyReal Estate Law, February 2023A review of a recent case where the appellate court affirmed a district court dismissal of a claim that the government had “taken” plaintiffs’ property rights when it granted building permits for a residential development in a flood plain.
Case Summary: Channon v. Westward Management, Inc.By Erica Crohn MinchellaReal Estate Law, January 2023Channon v. Westward Management, Inc. denies a private right of action for condominium unit owners to sue association management companies for charging excessive fees for the production of documents under 22.1 of the Condominium Act.
Illinois Estate Tax and Real Property: Best Practices for Residents and Non-ResidentsBy Luke E. Harriman & Angelica F. Russell-JohnsonReal Estate Law, January 2023This article discusses how real estate is treated for Illinois estate tax purposes, highlights some counterintuitive results based on this treatment, and provides recommendations for holding real estate in a tax-efficient manner.
Key Changes With the 2021 ALTA Owner’s PolicyBy Paul PetersonReal Estate Law, January 2023The American Land Title Association has issued its new 2021 policies, commitments, and selected endorsements.
Caveat Lawyer!Real Estate Law, December 2022A reminder to never assume the terms, provisions, conditions, or requirements of a contract with which you are not familiar.
New Relationships for Title AgentsBy Laura LundsgaardReal Estate Law, December 2022In recent years, a new party has been introduced to closings: the third-party title agent.
Case Summary: Findlay v. Chicago Title Insurance Co.By Kevin Camden & Richard W. RappoldReal Estate Law, November 2022Findlay v. Chicago Title Insurance Co. deals with the obligations of a title insurer to its insured, negligence, and malpractice.
Effect of Judgment Lien on Death of Joint TenantBy Emily R. VivianCommercial Banking, Collections, and Bankruptcy, November 2022The appellate court recently held that because a joint tenant’s interest in property terminates upon his death, a judgment lienholder cannot foreclose the judgment lien against such property after the joint tenant’s death.
Effect of Judgment Lien on Death of Joint TenantBy Emily R. VivianReal Estate Law, October 2022The appellate court recently held that because a joint tenant’s interest in property terminates upon his death, a judgment lienholder cannot foreclose the judgment lien against such property after the joint tenant’s death.
A Refresher on the Safe Homes Act Regarding Domestic ViolenceBy Nicky SonntagReal Estate Law, October 2022The Safe Homes Act was enacted to help address domestic violence, sexual abuse, dating violence, sexual assault, and stalking and includes provisions that require landlords to change locks on the premises in the case of domestic violence if the tenant provides the required notice and documentation.
