Real Estate Law

Public Act 97-552

Topic: 
Municipalities and zoning
(Senger; R-Naperville; Sandack, R-Downers Grove) allows municipalities of fewer than 500,000 to adopt rules of procedure or authorize zoning board of appeals and any other board, commission, or committee that conducts similar public hearings to do so. Effective August 25, 2011.

Public Act 97-555

Topic: 
Transfer on death instrument
(Bradley, D-Marion; Wilhelmi, D-Joliet) creates the Illinois Residential Real Property Transfer on Death Instrument Act. It allows an owner of real estate to transfer residential property on his or her death. The definition of "residential property" is borrowed from the Disclosure Act and the Mortgage Foreclosure Act. The act requires that the owner (1) sign in front of a notary and two credible witnesses and (2) have the same mental capacity to execute a TODI as is required to make a will. Effective January 1, 2012.

Public Act 97-533

Topic: 
Deed restrictions and special-service areas
(Althoff, R-Crystal Lake; Mautino, D-Spring Valley) prohibits a deed restriction or restrictive covenant from waiving or restricting the statutory rights to notice of a public hearing or the right to object, oppose, or challenge (1) the creation of a special-service area; (2) the levy of any tax of a special-service area; or (3) the issuance of bonds of a special-service area. Effective August 23, 2011.

Public Act 97-470

Topic: 
Cook County landlord and tenants
(Mayfield, D-Waukegan; Jones, D-Chicago) requires landlords to "change or rekey" locks of rental property after a renter moves out if the new renter has a written lease agreement. If the landlord doesn't do this, the landlord is liable for any damages for theft that occur. It exempts (1) apartment buildings with four units or less if the owner occupies one of the units or (2) the rented room is in a private home also occupied by the owner. Effective January 1, 2012.

Karimi v. 401 North Wabash Venture

Illinois Appellate Court
Civil Court
Real Estate Contract
Citation
Case Number: 
2011 IL App (1st) 102670
Decision Date: 
Tuesday, July 26, 2011
District: 
1st Dist.
Division/County: 
Cook Co., 2d Div.
Holding: 
Affirmed.
Justice: 
HARRIS
Liquidated damages provision in condominium purchase agreement (with purchase price of $2.188 million), which allowed seller to retain an amount equal to earnest money deposit (which was 15% of purchase price) is an enforceable penalty. Seller sent buyers a letter terminating the contract after sale did not close by agreed extended date for closing, and seller sold the unit to a third party. Liquidated damages in amount of 15% of purchase price is a reasonable amount, considering the potential loss each party faced at time of contracting, and both parties agreed to accept the inherent risk that the set amount could exceed actual damages. (CUNNINGHAM and CONNORS, concurring.)

Public Act 97-336

Topic: 
Notices and PIN numbers
(Tryon, R-Crystal Lake; Althoff, R-Crystal Lake) removes the Municipal Code requirement for a metes and bounds legal description in a notice concerning annexation, special uses, variations, or specified zoning hearings if the notice includes: (1) the common street address or addresses; and (2) the PIN number or numbers of all the parcels of real property contained in the affected area. Effective August 12, 2011.

Public Act 97-329

Topic: 
Mortgage Foreclosure Article
(Coladipietro, R-Bloomingdale; Dillard, R-Hinsdale) makes a deadline for filing a motion to dismiss or to quash service that objects to the court's jurisdiction over the person within 60 days after the earlier of the following: (1) the date that the moving party filed an appearance or (2) the date that the moving party participated in a hearing without filing an appearance. The court may extend this for good cause shown. If the objecting party files a responsive pleading or a motion before filing a motion objecting to personal jurisdiction, that party waives all objections to the court's jurisdiction over the party's person. Effective August 12, 2011.

Public Act 97-350

Topic: 
Post-judgment collections
(Mathias, R-Buffalo Grove; Silverstein, D-Chicago) does three things. (1) Allows a continuing lien on personal property, including beneficial interests in a land trust. (2) Allows service of a citation or nonwage garnishment against an LLC so that the court may enter a charging order. (3) Construes a foreign judgment to be an original Illinois judgment for enforcement or revival from the date it is filed with the clerk. Effective January 1, 2012.

Public Act 97-235

Topic: 
Home Repair and Remodeling Act
(Williams, D-Chicago; Wilhelmi, D-Joliet) makes a number of changes to the Home Repair and Remodeling Act some of which are as follows. (1) Prohibits a contractor from advertising or promising to pay or rebate all or any portion of any insurance deductible. (2) Prohibits a contractor from accepting money or any form of compensation in exchange for allowing an out-of-area contractor to use its business name or license. (3) Allows a person to cancel a written contract with a contractor to be paid from the proceeds of a property and casualty insurance policy. Cancellation is allowed before midnight on the earlier of the fifth business day after the insured has received written notice from the insurer that all or any part of the claim or contract is not a covered loss under the insurance policy or the 30th business day after receipt of a properly executed proof of loss by the insurer from the insured. (4) Imposes a $250 civil penalty for a roofing contractor for failing to put the licensing number and licensee’s name on its commercial vehicles. No penalty is imposed if this is corrected before the hearing on the civil penalty. Effective January 1, 2012.