Real Estate Law

Senate Bill 3747

Topic: 
Transfer Fee Covenant Act
(Wilhelmi, D-Joliet) creates the Transfer Fee Covenant Act that declares that transfer fee covenants violate the public policy of favoring the transferability of real property free of unreasonable restraints. Makes it void for a transfer fee covenant or a lien to secure the payment of a transfer fee that is recorded after the effective date and does not run with the title to the real property. Provides that it cannot be presumed that the provisions of this Act mean that a transfer fee covenant or lien recorded before the effective date is valid and enforceable. Scheduled for hearing on Tuesday in Senate Judiciary Committee.

Senate Bill 3550

Topic: 
Illinois Notary Public Act
(Hunter, D-Chicago) removes the notary public's personal knowledge of an individual as a means of verifying the individual's identity. Authorizes the Secretary of State to suspend a notary public's commission pending criminal investigation of alleged fraud by the notary or pending administrative review of the notary's suspected violations of the Act or suspected actions in bad faith. Scheduled for hearing in Senate Judiciary Committee on Tuesday.

Centerpoint Porperties Trust v. Olde Prairie Block Owner, LLC

Illinois Appellate Court
Civil Court
Mortgage Foreclosure
Receivers
Citation
Case Number: 
No. 1-09-1481
Decision Date: 
Wednesday, February 10, 2010
District: 
1st Dist.
Division/County: 
Cook Co.
Holding: 
Affirmed.
Justice: 
QUINN
Evidentiary hearing not required before appointing receiver in mortgage foreclosure proceeding. Court properly found mortgagee had established good cause why it should remain in possession of property per Illinois Mortgage Foreclosure Law; terms of mortgage provided that it would take possession in event of default, and reasonable probability that it would prevail at final hearing.

McNeil v. Ketchens

Illinois Appellate Court
Civil Court
Quiet Title
Adverse Possession
Citation
Case Number: 
Nos. 4-09-0388, 4-09-0393, 4-09-0617 Con
Decision Date: 
Wednesday, January 6, 2010
District: 
4th Dist.
Division/County: 
Champaign Co.
Holding: 
Affirmed in part and reversed in part.
Justice: 
APPLETON
Defendant, who was neighbor of Plaintiffs, blockaded Plaintiffs' driveway, covering his car and refusing to move it. Plaintiffs sought declaratory judgment, seeking to quiet title and claiming adverse possession. Court erred in rejecting claim of adverse possession. Since 1937, house and garage have stood at Plaintiffs' address, and driveway has led straight from street to garage, running alongside the house; and house and garage never were abandoned. One-month vacancy in time between prior owner moving out and Plaintiffs moving in to home was not break in continuity of possession, and did not interrupt adverse possession. Court properly dismissed count for quiet title, as legal description in deed to Plaintiffs does not include driveway.

Public Acts 96-232, 278

Topic: 
New real estate laws in effect Aug. 11
The Residential Real Property Disclosure Act (765 ILCS 77/35) is amended by the addition of a new line 23 to the Disclosure Form requiring information as to the manufacture of methamphetamine on the property. Effective August 11, 2009. The Illinois Radon Awareness Act (420 ILCS 46/10) is amended to provide that a seller must disclose that they either had no knowledge of elevated radon concentrations in the dwelling or that prior elevated radon concentrations have been mitigated or remediated. Residential dwelling units located on the third story or higher above ground level are exempt from the Act. This includes but is not limited to condominium units or units in a residential cooperative. Effective August 11, 2009.

Real Estate Law

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