Credit Union 1 v. Carrasco
Illinois Appellate Court
Civil Court
Foreclosure
Plaintiff filed foreclosure action as to single family home. Defendant produced a certification stating that she did not receive an acceleration notice. Plaintiff failed to provide any evidence that would entitle it to a presumption that it had mailed an acceleration notice to Defendant. Question of fact exists as to whether Plaintiff properly provided notice as required under the mortgage, and thus summary judgment and order approving sale should not have been granted. (BURKE and McBRIDE, concurring.)
BMO Harris Bank, N.A. v. Jackson Towers Condominium Assoc.
Illinois Appellate Court
Civil Court
Mortgage Foreclosure
Bank filed foreclosure as to condominium unit and later was successful bidder at judicial foreclosure sale. Court properly dismissed declaratory judgment action filed by bank, as its payments of postsale assessments were untimely and thus failed to confirm extinguishment of lien of condo association for delinquent presale assessments under Section 9(g)(3) of Condominium Property Act. Bank cannot use declaratory judgment process to contest validity of a lien for presale assessments that has already been satisfied by payment by bank. (REYES and HALL, concurring.)
U.S. Bank N.A. v. Quadrangle House Condominium Association
Illinois Appellate Court
Civil Court
Condominiums
Prompt payment by bank of postforeclosure sale assessments, several months after purchasing a condominium unit at a judicial foreclosure sale, extinguished lien of condo association for preforeclosure sale assessments pursuant to Section 9(g)(3) of Condominium Property Act. (MASON and HYMAN, concurring.)
Deutsche Bank National Trust Co. v. Estate of Schoenberg
Illinois Appellate Court
Civil Court
Mortgage Foreclosure
(Court opinion corrected 6/26/18.) In mortgage foreclosure action, court granted summary judgment in favor of bank, entered judgment of foreclosure and sale and approving report of sale and distribution, and dismissing affirmative defense of standing. Amendment to section 15-1501(h) of Foreclosure Law is procedural and may be applied retroactively, As legal holder of promissory note, which it attached to complaint, Plaintiff bank was entitled to pursue foreclosure action.(HARRIS and MIKVA, concurring.)
Pluciennik v. Vandenberg
Illinois Appellate Court
Civil Court
Fraudulent Transfer Act
Plaintiffs filed complaint seeking to avoid transfer of real estate from companies owned and managed by Defendant to companies held in irrevocable trusts for the benefit of his minor daughters.All 3 properties in question were encumbered by mortgages, which are valid liens under the Uniform Fraudulent Transfer Act. Court erred in determining, as a matter of law, that the properties were not assets because they were fully encumbered, without evidence of the fair market value of the parcels. Material issue of fact as to the reasonable value of the properties and whether properties were fully encumbered, and remanded to determine fair market value and calculation of value of transfer in excess of mortgages. The fair market value of encumbered property that exceeds the value of a valid lien qualifies as an asset under Illinois Uniform Fraudulent Transfer Act.(OBRIEN and WRIGHT, concurring)