Subject Index Real Estate Law

Overturning Mendelson: Bill would forbid conveying real estate to trust without deed

By Matthew Hector
May
2016
LawPulse
, Page 10
Proposed legislation would amend the Trusts and Trustees Act to require that all transfers of property into a trust be evidenced by a written conveyance and acceptance by the trustee.
1 comment (Most recent April 28, 2016)

Condominium purchaser in foreclosure sale must pay subsequent common expenses to association to extinguish lien resulting from prior owner’s failure to pay

March
2016
Illinois Law Update
, Page 26
On December 3, 2015, the Illinois Supreme Court held that the mortgagee purchasing a condominium in a foreclosure sale failed to confirm the extinguishment of the condominium association's lien, which was created when the prior unit owner did not make common expense payments.

New pilot program requires documents to be recorded against a property in foreclosure by judicial order only

February
2016
Illinois Law Update
, Page 18
Under this new section to the Counties Code, counties with over 3,000,000 people must establish a pilot program that permits documents to be recorded against a property in foreclosure by judicial order only.

Proposed amendments to the Real Estate License Act of 2000

February
2016
Illinois Law Update
, Page 18
The Department proposed amendments to the Real Estate License Act of 2000 clarifying the educational requirements for transferring licensees.

Give home-buyer clients a reality check about inspections

January
2016
Article
, Page 33
Make sure your clients know up front the limited scope of home inspections so they don't blame you when they can't recover for undisclosed defects.

Private parties can bring suit for violations of § 13-72-030 of the Chicago Municipal Code

January
2016
Illinois Law Update
, Page 18
Plaintiffs sued LAB Townhomes alleging: (1) breach of the implied warranty of habitability; (2) fraud; (3) negligence; (4) breach of section 13-72-030 of the Chicago Municipal Code's prohibition against misrepresenting material facts in the course of marketing and selling real estate; and (5) breach of a fiduciary duty.

The Right of Redemption in a Mechanics Lien Foreclosure

By Adam Whiteman
January
2016
Article
, Page 46
When a property subject to only a mechanics lien is sold at a sheriff's sale, the law grants an owner six months after the sale to redeem. Note this when drafting final orders in a foreclosure case.

Repealed housing development regulations

December
2015
Illinois Law Update
, Page 18
The Development Authority repealed outdated programs pertaining to single-family mortgage purchases. 47 Ill. Adm. Code 220 and 250 (eff. July 24, 2015).

House can be transferred to trust without deed, appellate court rules

By Matthew Hector
November
2015
LawPulse
, Page 14
The Illinois Appellate Court in Mendelson held that when a trust instrument lists a house as part of the trust, the house belongs to the trust even if the deed was not formally transferred there. Critics worry the ruling could put unsuspecting purchasers at risk.
1 comment (Most recent October 31, 2015)

Can a trustee convey title to real property using a warranty deed instead of trustee’s deed?

October
2015
Article
, Page 22
Can a trustee convey title using a warranty, not a trustee's, deed?

Using Letters of Intent in Commercial Real Estate Negotiations

By Stephen J. Siegel
October
2015
Article
, Page 42
When you're negotiating commercial real estate transactions, letters of intent can help define significant points of agreement before a formal contract is signed. But use them with care.

New renewal timeline for residential mortgage licenses

September
2015
Illinois Law Update
, Page 18
The Residential Mortgage License Act of 1987 has been amended, establishing a uniform renewal deadline and striking fee assessments for noncompliance.

New Residential Real Estate ‘Consummation’ Rules

By Timothy A. Slating
September
2015
Article
, Page 24
New regulations will have a big impact on real estate lawyers.

New rules for guarantee funds under the Home Equity Assurance Act

July
2015
Illinois Law Update
, Page 18
Under the Home Equity Assurance Act, a governing commission and program which is coined by referendum under this Act, will maintain a "guarantee fund" to pay costs of administering the program and protecting members under the limitations and procedures of the Act.

Probate and ‘Underwater’ Real Estate: The Promise of LaPlume

By Fredric Bryan Lesser & Jeffrey P. O’Kelley
June
2015
Article
, Page 24
A groundbreaking appellate case holds that probate courts can sell an estate's "underwater" real property free and clear of all liens, including mortgage liens.

Buyer Beware: Advising Condominium Owners in Illinois

By Damon Ritenhouse
May
2015
Article
, Page 24
Pointers for representing condo owners and prospective purchasers, particularly in light of the Illinois Supreme Court's recent Spanish Court ruling.

Real estate bills raise concerns among ISBA section councils

By Matthew Hector
May
2015
LawPulse
, Page 10
Pending Illinois House and Senate bills could adversely affect condominium owners and contractors, among others.

Real estate owners may bring an action to extinguish an omitted subordinate interest on the property

February
2015
Illinois Law Update
, Page 18
A holder of a certificate of sale on a piece of real estate, or any person who acquired title to a piece of real estate pursuant to 735 ILCS 5/15-1509, now has a right to file a strict foreclosure complaint upon discovering the real estate is subject to an omitted subordinate interest.

The Top 10 Things to Do Before Your First Residential Real Estate Transaction

By Heather M. Fritsch
February
2015
Cover Story
, Page 22
Hoping to represent home sellers and buyers? Taking these steps at the outset will help you get off to a smooth start.
1 comment (Most recent January 29, 2015)

Limits on condominium managerial board access to courts are void

January
2015
Illinois Law Update
, Page 16
The Condominium Property Act is amended to protect certain rights of condominium managerial boards.

Prescriptive easements do not require exclusive possession

December
2014
Illinois Law Update
, Page 572
On September 18, 2014, the Illinois Supreme Court held that the "exclusivity" element for prescriptive easements does not require exclusive possession for the statutory period, overruling contrary first district cases.

Dual Agency in Real Estate

By Mark S. Mathewson
November
2014
Column
, Page 554
Like it or not, it's common for one agent to represent both buyer and seller.

Requirements for broker price opinions and comparative market analyses

November
2014
Illinois Law Update
, Page 524
This new section of the Real Estate License Act of 2000 adds requirements for broker price opinions and comparative market analyses.

When Home Is Not So Sweet: Suing for Defective Residences

By James W. Springer
November
2014
Article
, Page 546
What options are available to someone who buys a defective home? Here's an overview of various Illinois statutes and common law causes of action for disappointed home buyers.

New residential real estate contract incorporates common modifications

By Matthew Hector
October
2014
LawPulse
, Page 466
A new version of the widely used multi-board real estate contract incorporates the most common changes lawyers made in its predecessor.
2 comments (Most recent February 20, 2015)

“Residential real estate” redefined for transfer on death instruments

October
2014
Illinois Law Update
, Page 472
Residential condominium units as well as parking units or units specified by a declaration to be allocated to a specific residential condominium unit now fall under the penumbra of "residential real estate" in the Illinois Residential Real Property Transfer on Death Instrument Act.

Property tax bills going digital

July
2014
Illinois Law Update
, Page 320
Upon written request from a property owner, township and county tax collectors may now email property owners their tax bills.

Property Tax Sales and Bankruptcy after Alexandrov v. LaMont

By Andrew J. Hawes
July
2014
Article
, Page 346
The seventh circuit recently held that a homeowner debtor can extend the deadline to redeem property sold at a tax sale by declaring Chapter 13 bankruptcy. Find out what it means.

Representing a Home Seller? Be Ready to Act Fast

July
2014
Column
, Page 354
Interview the client before the attorney-review window closes.

Changes to funding distribution under the Abandoned Residential Property Municipality Relief Program

June
2014
Illinois Law Update
, Page 272
The Housing Development Authority has amended rules regarding the Abandoned Residential Property Municipality Relief Program. 47 Ill. Adm. Code 381 (eff. Mar. 10, 2014).

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