Real Property

The newsletter of the ISBA’s Section on Real Estate Law

ISBA Members, please login to join this section

2026 Articles

2025 Joint Midyear Meeting Photos February 2026 The Illinois State Bar Association and the Illinois Judges Association proudly co-hosted the 2025 Joint Midyear Meeting on December 11–12 at the JW Marriott Chicago, bringing members of the legal community together for two days of connection and collaboration.
Case Summary of the First District Appellate Court Decision Affirming Foreclosure Judgment and Sale in U.S. Bank Trust, N.A. v. Winston, 2025 IL App (1st) 241237 By Adam M. Umek May 2026 U.S. Bank and Trust N.A. v. Winston is a recent First District Appellate Court opinion that reaffirms the standard for affidavits attached to motions for summary judgment, as well as a reminder that standing is an affirmative defense that must be timely raised, or it will be deemed waived.
Case Summary: Chicago Title Land Tr. Co. v. Sara Watkin, 2025 IL App (1st) 241354 By Philip J. Vacco March 2026 An Illinois appellate court ruled that even if the statute of limitations prevents enforcement of a promissory note or mortgage foreclosure, the mortgage lien itself does not automatically disappear and can remain a cloud on the property’s title. Under Illinois law, the lien continues until 20 years after the debt’s maturity unless the mortgagee fails to take required actions to extend it under Section 13-116. As a result, old mortgage liens may still affect property titles even when the underlying debt can no longer be legally enforced.
CLE Deadline Reminder June 2026 If your last name ends in A-M, your CLE reporting deadline is June 30, 2026. Don't forget to take advantage of ISBA-offered CLE's!
CLE Deadline Reminder May 2026 If your last name ends in A-M, your CLE reporting deadline is June 30, 2026. Don't forget to take advantage of ISBA-offered CLE's!
Community Land Trusts and Shared Equity Homeownership: A Primer for Illinois Real Estate Practitioners By Jenna L. Kearns June 2026 Community land trusts are a growing component of Illinois’s housing landscape and a locally implemented expression of a nationally recognized shared equity homeownership framework. With operating CLTs in both urban and non‑urban regions and legislation under consideration that would formalize public support for the model, practitioners should expect CLTs to remain a relevant feature of residential real estate practice.
FinCEN Update By Nicky Sonntag May 2026 FinCEN's Anti-Money Laundering Regulations for Residential Real Estate Transfers Rule remains in limbo as a district court in Texas overturned it, which means that reporting persons are not currently required to file real estate reports with FinCEN under the new Rule. 
Landlord Not Entitled To Additional Insurance Proceeds for Property Damage or Lost Rental Income Resulting From Break-in and Vandalism at Three-Unit Residential Building By Genevieve M. Daniels February 2026 A summary of Bunjo v. State Farm Fire & Casualty Co., a First District case that discussed whether an owner of a three-story, three-unit residential property was covered under a homeowners insurance policy that covered losses as a result of vandalism and damages due to loss of use. Based on the facts of the case, the First District found State Farm was entitled to judgment as a matter of law and the homeowners insurance policy did not cover the alleged loss. 
Member Appreciation & Recognition Reception Highlights June 2026 On May 14, 2026, ISBA members and colleagues gathered at the beautiful Morton Arboretum in Lisle to celebrate the 2025–26 ISBA Award Recipients, connect with fellow legal professionals, and enjoy an evening of meaningful conversation and camaraderie.
Navigating the Landscape of Partition Actions By Cameron T. Lythberg March 2026 Partition actions are replete with emotions, difficult equity concerns, and civil practice issues. While seemingly simple at first blush, they can quickly become one of the most complex areas of civil practice. 
New Fannie Mae and Freddie Mac Requirements for Loans on Condominiums and Community Association Buildings By Paul Peterson May 2026 Fannie Mae and Freddie Mac, in March 2026, issued updates to certain standards and insurance requirements, outlined in Lender Letter LL-2026-03, which addresses expansion of waiver of project review, retirement of investor ownership limits, retirement of the limited review process, and more. 
New FINCEN Reporting Starts March 1, 2026! March 2026 Will you have to file the Real Estate Report? Be sure to familiarize yourself with the reporting requirements. 
The New Receivership Act: Claims Filing, Automatic Stays, and Receivership Sales of Real Estate By Paul Peterson January 2026 The new Illinois Receivership Act brings a host of changes to receiverships in Illinois under certain circumstances. One of the purposes of the Act is to facilitate sales that can bring in more proceeds than would otherwise be obtained through a mortgage foreclosure, creating the necessity for all real estate practitioners to consider. 
NOTE January 2026 Quick summaries of new laws for 2026 that may impact the practice of real estate law. 
Oil and Gas Law Ownership Rights and Surface Issues By David M. Foreman February 2026 Historically, an owner of real estate, in fee simple absolute, was thought to own a pie shaped cubit, extending from the center of the Earth, all the way up to the heavens. This traditional rule of ownership is a gross over simplification which, as we shall see, does not truly apply in the case of oil and gas.
A Reminder to Our Section Members March 2026 The Real Estate Law Section is intended to enhance the abilities of real estate legal practitioners, disseminate information on real estate law development, educate the the public on rights and procedures associated with property ownership, and more! 
REMINDER! February 2026 The CLE deadline for last names A-M is fast approaching--utilize your free CLE credits included in your ISBA membership! 
Reserve Studies: Needed Information That Not Everyone Wants By Paul Peterson April 2026 House Bill 2563 with House Amendment 1 calls for a reserve study done every 5 years by associations with more than 15 units where the association is responsible for the repair and upkeep of major components of the building. To date, reserve studies or reserve schedules are required in 12 states. 
Reverse Mortgages, Medicaid, and Help to Remain in Your Home By Leonard F. Berg June 2026 An inquiry on the ISBA Central discussion group for Trusts and Estates asked whether a reverse mortgage would disqualify a person from receiving Medicaid benefits. The simple response is that Medicaid disqualification is not automatic; however, the larger issue is identifying resources to help a client to remain in their home. 
“Rewilding” in Illinois: 20 ILCS 805/805-135 By William J. Anaya April 2026 Learn more about "rewilding," P.A. 104-62; effective January 1, 2026, a new statute that seems largely symbolic rather than regulatory in its current form. 
Troubleshooting Closing Issues: A Discussion for Lawyers Who Are New to Real Estate Law April 2026 Don't miss this upcoming virtual open forum, on April 22, 2026, discussing real estate closing issues! 
Urgent Notice About the New “Summary of Rights for Safer Homes Act” Requirements By Nicky Sonntag January 2026 A look at important changes for Illinois landlords for all new and renewals of residential leases and a description of the Safe Homes Act.