Senate Bill 3052
Sylva, LLC v. Baldwin Court Condominium Association, Inc.
Plaintiff bought condominium unit a a judicial foreclosure sale. Condominium Property Act does not require a condo association to file suit against prior owner to collect unpaid assessments from foreclosure buyer. A condo association is entitled to up to 6 months of unpaid assessments dating from the time the Association took requisite action to enforce its right to collect back assessments from foreclosure buyer, pursuant to Section 9(g)(4) of the Act.(PIERCE and MIKVA, concurring.)
House Bill 4711
Senate Bill 2309
(Mulroe, D-Chicago; Welch, D-Westchester) deletes language requiring that a conveyance of real property to a trust include evidence of acceptance by the trustee and deletes language providing that if the transferor is a trustee of the trust, an interest in real property does not become trust property unless the instrument of conveyance is recorded in the office of the recorder of the county in which the property is located. Passed both chambers.
Senate Bill 2432
House Bill 4268
House Bill 4702
BMO Harris Bank, N.A. v. Porter
Court properly granted bank's motion to strike and dismiss Defendants' 3rd amended counterclaim with prejudice. Bank's acceptance of Defendants' payments from 2011-14 was only an act of leniency and was not an offer, Defendants failed to show that there was a valid offer of a 20-year loan initially or that there was an offer to extend terms of loan. Defendants failed to establish any allegation of consideration. According to terms of original loan documents, bank was already authorized to charge 6-18% interest for installments due under credit agreement. Payments alleged in Defendants' motion to reconsider were not additional interest providing consideration for alleged extension agreement. (LAMPKIN and ROCHFORD, concurring.)