Section Newsletter Articles on Real Property

Acquiring real estate in different jurisdictions: Common practice By Silvia Alcoverro and Gerard Hernandez International and Immigration Law, December 2010 A look at the main concerns and worries of transnational investors and operators in their real estate transactions.
The Harold I. Levine Memorial* caselaw update By Steven B. Bashaw and Joseph R. Fortunato, Jr. Real Estate Law, December 2010 Recent cases affecting real estate practitioners.
Is there a new tax imposed on the sale of real estate under the 2010 Health Care Reconciliation Act? Not directly. By Emily R. Vivian Real Estate Law, December 2010 The Health Care and Education Reconciliation Act of 2010 does not directly impose a new tax on real estate sales. However, for certain individuals, it imposes a new 3.8 percent Medicare tax on “net investment income,” which might result from a real estate sale.
2010 legislative summary By Douglas M. Karlen Real Estate Law, November 2010 New legislation affecting real estate law and practice, litigation, and title insurance law and practice.
Beware A call to action By Julie A. Neubauer Women and the Law, May 2010 A call for all those in opposition to the practices of to speak out against it.
Federal lead exposure regulations impact work done on pre-1978 residences and child-occupied facilities By Jennifer J. Sackett Pohlenz Real Estate Law, May 2010 Including regulated substances like lead and asbestos in your pre-work planning can ultimately make for a smoother and more economical project.
The need to review Illinois residential installment contracts By Jack H. Tibbetts Real Estate Law, May 2010 When using an installment contract, the parties should always consider the impact of the Illinois mortgage foreclosure law as well as the title insurance needs at the time of closing.
Legislative report By James K. Weston, Sr. Real Estate Law, April 2010 Recent legislation affecting real estate law.
A residential real estate attorney’s scope of representation By Myles Jacobs Real Estate Law, April 2010 An attorney's liability and obligation to the client extends beyond simple document preparations.
A modest proposal By Myles Jacobs Real Estate Law, February 2010 This article concerns one of those things we do because we have always done so. As we all know, lawyers do many things because “that’s the way we have always done it.”
Property acquired in contemplation of marriage By Thomas A. Else Family Law, February 2010 In deciding whether property is marital or non-marital for purposes of allocation and division under the terms of the Illinois Marriage and Dissolution of Marriage Act, the statute itself is sometimes less than helpful.
A comparison of the new Multi-Board Residential Real Estate Contract 5.0 (Year 2009 version) with the 4.0 version By Joseph R. Fortunato, Jr. Real Estate Law, December 2009 In this outline I will attempt to review and contrast the Multi-Board Residential Real Estate Contract 5.0, approved or soon to be approved throughout the Chicago area, with the Multi-Board Residential Real Estate Contract 4.0, the so-called “Common Contract” currently in use.
Beware the public way By Donna J. Pugh and Michael Cassata Real Estate Law, October 2009 To be fully prepared to handle the responsibilities of property maintenance, owners and managers must be aware of public way uses related to their property and the arduous process for obtaining or renewing a permit.
Case law update Real Estate Law, October 2009 A recent case of interest to real estate law practitioners.
Distressed condominium property legislation By Joel L. Chupack Real Estate Law, October 2009 This is a major piece of litigation, empowering the courts with the heretofore non-existent power to authorize the sale of an entire condominium property. In short, the courts will have the power to appoint a receiver for the condominium property, and if the property is found to be distressed and not viable as a condominium, to de-convert it and sell the property as a whole.
Legislative update Real Estate Law, October 2009 A legislative note of interest to real estate law practitioners.
Beyond the title insurance policy: Protecting sellers of Illinois real estate By Michael J. Rooney Real Estate Law, September 2009 For purchasers and lenders, the new Standard CPL may suffice. For sellers, the new Standard CPL needs to be modified as described in this article. In either event, counsel can and should verify that the title agent has been properly registered with the Secretary, authorized to act as escrowee and that such authority has not been revoked or limited prior to the closing.
Case law update By Adam B. Whiteman Real Estate Law, September 2009 Summaries of two recent cases of interest to real property attorneys. 
LEED in real estate By Margery Newman Real Estate Law, September 2009 Leadership in Energy and Environmental Design (“LEED”), also known as green building, is taking hold across the country. According to the National Association of Home Builders “between 40 percent and 50 percent of the homes built in 2010 are expected to be green.” Here's what you need to know.
Reducing the risks associated with title agent closings By Adam B. Whiteman Real Estate Law, September 2009 Four suggestions to minimize the risk to seller clients.
Defining the contours of subrogation By Samuel H. Levine Real Estate Law, June 2009 Four recent cases have addressed the contours of equitable and conventional subrogation in the context of refinancing mortgagees.
Negotiating Loan Modifications for Clients By Tracie R. Porter and Michael W. van Zalingen Real Estate Law, June 2009 Homeowners need to know options are available when they find themselves having difficulty paying their mortgage. Whether the assistance comes through the lender/servicers or the federal government, homeowners need to know when to stay in the game and keep their homes, and when to count their losses and move out of a bad situation. Attorneys who are equipment with the information to help their clients will find that they can still provide real HOPE for continued home ownership for their clients.
Road map to closing on a co-operative apartment By Roberta C. Conwell Real Estate Law, June 2009 When the real estate practitioner encounters a co-op transaction for the first time, it is not a smooth ride. There are numerous roadblocks that pop up and you have to know how to get around them. This is not the same as selling a house or a condo. In the interest of saving yourself from having to re-invent the wheel, you can use the following roadmap as a starting point in your research.
The Cook County Board amends the Cook County Real Property Classification Ordinance By Leonard F. Amari, Vesna Marusic, and Katherine A. Amari Real Estate Law, April 2009 The changes with the newly adopted ordinance, as it is hoped by the enactors, would reduce the burden on homeowners the significant burden of the cost of government, but, arguably, real estate taxes will still result in property owners experiencing property tax increases. It is imperative to closely follow real property values and file annual assessment challenges to ensure reasonable taxation. Taxpayers have a host of remedies available in their attempt to reduce the assessment on their real property.
An examination of lease subordination issues in an economic downturn By David J. Alexander Real Estate Law, April 2009 If negotiating a lease as a tenant, tenant’s counsel or tenant’s broker, be certain that the basic language regarding subordination, non-disturbance and attornment is present and clearly stated so as to ensure that the tenant is adequately protected.
Update regarding First-Time Homebuyer Tax Credit By Emily R. Vivian Real Estate Law, April 2009 As part of the American Recovery and Reinvestment Act of 2009, the first-time homebuyer credit is extended to principal residences purchased before December 1, 2009.
The Doctrine of Merger: A vanishing rule Agricultural Law, March 2009 The Merger Doctrine still sees use in the state, although like many common law rules its position has changed over the years. As recently as 2008, the Illinois Supreme Court dealt with a case primarily focused on the doctrine, Czarobski v. Lata, 882 NE2d 536 (Ill 2008).
Need for a survey, a war story By Thomas Dalton Real Estate Law, February 2009 Everyone knows that as practitioners, we are oftentimes faced with a vast array of people in the real estate transactional practice who are not the normal residential homebuyers. 
Phase I Environmental Site Assessments: The familiar stranger By Phillip R. Van Ness Real Estate Law, February 2009 An attorney charged with guiding his or her Illinois client through a Phase I doesn’t have to understand the science behind it (although that surely won’t hurt). But he or she does have to know whether the Phase I at least prima facie appears to comport with the essential elements of a valid Phase I. At this point, it may be advisable to secure the services of an environmental lawyer, but even a non-technically trained lawyer can put together a checklist that greatly increases the odds that the client will have a Phase I it can rely on.  
Evaluating bulk sales liability in real estate transactions By Larry N. Woodard Real Estate Law, January 2009 This article is intended to provide a real estate attorney with basic information to quantify the risk of bulk sales liability to its purchaser client so both the client and attorney can evaluate the legal and business ramifications in purchasing real estate with potential bulk sale burdens.