On June 17, 2005, the Mortgage Escrow Account Act (Act) (765 ILCS 910/1 et seq) was modified from its original form so as to broaden the scope of "mortgage lender" to include savings banks, credit unions, mortgage bankers, and one who services the loan.
On February 17, 2005, the Illinois Supreme Court reversed the appellate court's dismissal of the property owners' appeal and remanded the case to the appellate court.
On December 2, 2004, the Illinois Supreme Court reversed the orders of the appellate and circuit courts, which reversed the Illinois Department of Revenue's (Department) holding that the property in question was not tax exempt.
The Nehemiah and AmeriDream programs allow sellers to pick up closing costs for homebuyers without violating RESPA. But is there a downside to this popular practice?
On December 9, 2004, the Illinois Appellate Court, Second District, affirmed in part, vacated in part, and remanded in part the decision of the Circuit Court of McHenry County awarding the plaintiffs certain property by reason of adverse possession.
The Department of Revenue recently adopted amendments to the Real Estate Transfer Tax, 86 Ill Adm Code 120. Effective October 13, 2004, the changes affect sections 120.5, 120.10, and 120.20 of the code.
Have – or hope to have – an active residential real estate practice? If you're not a title agent already, becoming one might well boost your bottom line.
Contributors to an ISBA e-mail discussion group create a primer that describes what any attorney should insist upon when representing the buyer of an apartment building.
Appellate court precedent makes it difficult for assessors to change the valuation of property more often than once every four years. But what are the limits on assessors' authority to "revise and correct"?
