Articles on Real Property

Foreclosures and real property tax valuation revisited: Continuing challenges and responses By Thomas A. Jaconetty State and Local Taxation, October 2012 A look at the complex issues involved in determining market value of real property in the current economic environment without comprising the principles of appraisal and valuation of real property.
Putting the short into short sales By Philip J. Vacco Real Estate Law, October 2012 Effective November 1, 2012, Fannie Mae’s and Freddie Mac’s new and improved preforeclosure sales program will officially be known as “Standard Short Sale/HAFA II.
Real estate ethics corner By Michael J. Rooney Real Estate Law, October 2012 In re: Marc Robert Engelmann resulted in disbarment by consent of a lawyer convicted by the federal court in the Southern District of Iowa of conspiracy, bank fraud and wire fraud. 
Real estate ethics corner By Michael J. Rooney Real Estate Law, September 2012 Two recent disciplinary cases are instructive beyond the general admonition not to “do bad things” because violations of provisions of the Rules of Professional Conduct other than those prohibiting dishonesty and conduct prejudicial to the administration of justice were cited. 
Nightmare on _______ Street: The hidden costs of private streets and reciprocal easements By Adam B. Whiteman Real Estate Law, August 2012 Whenever you detect that a client is purchasing property on a private street, you should immediately determine who is responsible for its maintenance and upkeep.
Real estate ethics corner By Michael J. Rooney Real Estate Law, August 2012 An examination of In re: John Walsh, in which a Complaint was filed against Mr. Walsh by the ARDC because he improperly paid two obligations of a title insurance agent LLC with funds from an escrow account of the title insurance agent.
Real estate ethics corner By Michael J. Rooney Real Estate Law, June 2012 In the current real estate market, foreclosure rescue schemes and scams and short-sales abound. Real estate lawyers do well to recognize when they are involved in a transaction that may take one or more “funny” turns that end up not being very humorous for the lawyer.
Deconstructing condominiums and reinventing communities By Nancy Hyzer Real Estate Law, May 2012 Post-2008, condominium ownership was especially hard hit by the housing market decline due to a number of factors the result of which led to abandoned foreclosed units, associations facing bankruptcy, and sellers searching for buyers and buyers looking for loans.
How do foreclosures affect real property tax valuation? And what can we do about it? By Thomas A. Jaconetty State and Local Taxation, May 2012 Some insight to help us find within our commonly-accepted principles a framework for confronting the challenges of a depressed economy and a national real estate market under severe stress.
Real estate ethics corner By Michael J. Rooney Real Estate Law, May 2012 A simple residential leasehold transaction proved troublesome for one Illinois attorney and the Illinois Supreme Court suspended the attorney from the practice of law for 90 days.
Real estate ethics corner By Michael J. Rooney Real Estate Law, April 2012 Do the Rules of Professional Conduct still govern the conduct of the attorney when he or she owns the owns the entity registered as a title insurance agent?
Radon as an issue for real estate closings By Myles Jacobs Real Estate Law, March 2012 While there presently is no law which requires a purchaser of a home to do a radon test, many purchasers have now become concerned and will conduct a radon test at the same time they do their home inspection.
Real estate ethics corner By Michael J. Rooney Real Estate Law, March 2012 A discussion of the recent disciplinary matter of In re: David Milton Svec.
Options for the client in trouble with real estate: Forbearance to bankruptcy and everything in between By Erica Crohn Minchella Real Estate Law, February 2012 A competent real estate attorney evaluates each client’s circumstances in light of various interests and perspectives and offers sound advice. But with so many factors and circumstances, how do we ensure we firmly grasp the specific needs of each client?  
Real estate ethics corner By Michael J. Rooney Real Estate Law, February 2012 Two recent disciplinary cases share a number of interesting features, though one arose in the Chicago area and one downstate in Lincoln.
Practice tips: Watch out for anything old, dead, or unlicensed By Angela Evans Women and the Law, September 2011 A few practice tips from author Angela Evans.
Rising farmland values: Causes and concerns By Lewis F. Matuszewich Agricultural Law, August 2011 The Federal Reserve Bank of Chicago will hold, on November 15, 2011, an all-day Conference to explore the factors contributing to a large increase in agriculture land prices and agricultural cash rental rates in the Midwest.
Country roads: Who owns them? By Robert F. Russell Real Estate Law, July 2011 After searching the records at the courthouse and at the county superintendent’s office, the sellers’ attorney should be able to determine whether the road or roads in question were established by statute or by a dedication that conforms with the Illinois Plat Act.
Illinois Residential Real Property Transfer on Death Instrument Act awaits governor’s signature By Charles G. Brown Trusts and Estates, July 2011 An overview of the Illinois Residential Real Property Transfer on Death Instrument Act, written by the author of the bill.
Acquiring real estate in different jurisdictions: Common practice By Silvia Alcoverro & 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 & 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.


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