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2004 Articles

10 things every buyer needs to close a commercial real estate loan By R. Kymn Harp March 2004 For 25 years, I have represented borrowers and lenders in commercial real estate transactions. During this time it has become apparent that many Buyers do not have a clear understanding of what is required to document a commercial real estate loan.
Another arrow in the quiver of those seeking adverse possession: A casenote: Johan Dwyer v. William R. Love and Jody Romano Love By Laurence F. Johnson December 2004 The Dwyer family owned real estate in Winnebago County, Illinois continuously from 1956.
Call to arms: A 21st century call to professionalism for real estate lawyers By William J. Anaya June 2004 Many of our younger colleagues consider me a dinosaur or an anachronism-a lawyer from a different age who actually ordered and reviewed abstracts of title and prepared scores of title opinion letters in the practice of law, and not as an academic exercise in some ancient social ritual at the Smithsonian.
A comparison of single-family residential contract forms By Steven P. Zimmerman December 2004 The landmark case of Chicago Bar Association v. Quinlan and Tyson, Inc., 34 Il.2d 116, 214 N.E.2d 771 (1966), continues to define the right of licensed brokers and their agents (collectively, real estate licensees) to prepare real estate contracts on forms customarily used in the community while prohibiting these real estate licensees from engaging in other actions which would constitute the unauthorized practice of law.
Construction necessitated zoning variations By Jack H. Tibbetts November 2004 An unusual situation occurred in Oak Park recently.
Covenants, conditions and restrictions: a trend of enforcement By Richard F. Bales December 2004 Fifteen years ago, title insurance maven Ron Otto wrote an article for the Real Property newsletter (October 1989 issue) entitled "Covenants, Conditions and Restrictions: A Trend of Enforcement Denial." The article was a review of Illinois case law as to when a court will deny the enforcement of covenants, conditions and restrictions (hereafter CC&Rs).
Editor’s note By Gary R. Gehlbach December 2004 A frequent occurrence for real estate practitioners is that a survey is produced for a transaction, typically, for me at least, a farm transaction, and the fence lines are at odds with the boundaries determined by the surveyor.
Editor’s note By Gary R. Gehlbach November 2004 Your client, a local contractor, calls with an urgent problem. His subcontractor, a local excavator, just poured the basement for a new residence that your client is building.
Editor’s note By Gary R. Gehlbach September 2004 This issue contains some helpful reminders for real estate practitioners.
Editor’s note By Richard W. Kuhn May 2004 Real estate attorneys and title companies often talk about "dedicated" roads. But just what is a dedicated right-of-way?
Editor’s note By Gary R. Gehlbach March 2004 After a lengthy hiatus for which we apologize, the Real Property newsletter is back. We do need articles, however, as they are still the lifeblood of this publication.
Editor’s note and comments By Gary R. Gehlbach June 2004 With the frenetic pace of most of our lives, roughly balancing families, friends, civic and other commitments with law practices that seem to become more "virtual" every day, the notion of professionalism is often a distant concept.
Expansion of the Transfer Tax By Dana M. Nauman March 2004 The Illinois Real Estate Transfer Tax has been amended by Public Act 93-0657, which now imposes the tax when a controlling interest in a real estate entity is transferred.
HUD’S “Final Rule” on its proposal to amend RESPA By Joseph R. Fortunato, Jr. June 2004 In the summer of 2002, the U.S. Department of Housing and Urban Development (HUD) issued a proposed rule that would have revamped the Real Estate Settlement Procedures Act of 1974 (RESPA).
Illinois Supreme Court finds municipal demolition statute constitutional By Jack H. Tibbetts March 2004 The Illinois Supreme Court on February 20, 2004 reversed the Illinois Second District Appellate Court and found the Illinois statute contained at 65 I.L.C.S. 5/11-31-1 constitutional.
Intercreditor agreements in mezzanine financing: advice for mezzanine lender’s counsel By David Neboyskey November 2004 Over the past several years, a new means of secured financing has risen to prominence in the financial marketplace.
A late summer real estate miscellany By Gary R. Gehlbach September 2004 The ebb and flow of real estate transactions produce various and sundry issues that may be applicable to transactional attorneys.
Mold risks in construction projects By Margery Newman & Randolph E. Ruff September 2004 The presence of water where it should not be is a significant construction defect issue that has generated an enormous amount of litigation within the last few years.
New legislation concerning utilities and rights-of-way By Richard F. Bales May 2004 Generally speaking, a public utility has the right to install underground utilities in a statutory dedicated road. Such underground installations are regarded as being within the easement for highway purposes, in favor of the public.
Real estate transactions and bulk sales requirements By Ted M. Niemann & Melinda S. Madison September 2004 Bulk sales laws are designed to eliminate fraud in certain credit transactions.
Road conveyancing after Benno By Howard Samson May 2004 The real estate attorney who rightfully considers himself a skilled practitioner is still, from time to time, heard to bemoan the intricacies of certain areas of his specialty.