Commercial Property Insurance Policy Did Not Cover Ordered Demolition of Condominium BuildingBy Paul PetersonReal Estate Law, February 2024A summary and analysis of Horizon West Condominium Homes Ass'n v. Travelers Indemnity Co. of Connecticut, in which the U.S. Court of Appeals for the Seventh Circuit affirmed the dismissal of the association's suit against its insurer after the condo building was ordered to be evacuated and demolished at the expense of the association.
Key Changes With the 2021 ALTA Owner’s PolicyBy Paul PetersonReal Estate Law, January 2023The American Land Title Association has issued its new 2021 policies, commitments, and selected endorsements.
Documentation Issues With the Wage Payment and Collection ActBy Paul PetersonConstruction Law, August 2022Public Act 102-1076, known as the Wage Payment and Collection Act, became effective June 10, 2022, making a contractor personally liable for unpaid lower tier wages and unpaid union dues.
New Fannie Mae Condominium RequirementsBy Paul PetersonReal Estate Law, November 2021Effective January 1, 2022 for all loans secured by units in condominiums and co-op projects with five or more attached units, regardless of the type of project review or review waiver, Fannie Mae has made new requirements of appraisers and lenders.
Luxury Condominium Mechanics Lien Issues in IllinoisBy Paul PetersonReal Estate Law, March 2021It may be time for title insurers to change how the mechanics lien risk in insuring luxury condominium unit sales is underwritten.
Luxury Condominium Mechanics Lien Issues in IllinoisBy Paul PetersonConstruction Law, February 2021It may be time for title insurers to change how the mechanics lien risk in insuring luxury condominium unit sales is underwritten.
Luxury Condominium Mechanics Lien Issues in IllinoisBy Paul PetersonReal Estate Law, August 2020It may be time for title insurers to change how the mechanics lien risk in insuring luxury condominium unit sales is underwritten.
From the Ex-Officio: The Year in ReviewBy Paul PetersonConstruction Law, July 2020A look at what the Construction Law Section Council accomplished during the 2019-20 bar year.
The effect of an order declaring heirshipBy Paul PetersonTrusts and Estates, January 2019The Cook County Recorder of Deeds indicated on November 5 that it is not going to record heirship deeds or affidavits of heirship unless they are accompanied by an order declaring heirship. This article focuses on the effects of this procedure.
The effect of an order declaring heirshipBy Paul PetersonReal Estate Law, November 2018The Cook County Recorder of Deeds indicated on November 5 that it is not going to record heirship deeds or affidavits of heirship unless they are accompanied by an order declaring heirship. This article focuses on the effects of this procedure.
Presumptively Void Transfers to caregivers – A bit of mercy please?By Paul PetersonTrusts and Estates, October 2018Caregivers are a necessary and desired part of our society. Yet some caregivers are guilty of fraud, duress, or undue influence. This article reflects on the issue and how the Presumptively Void Transfers Article of the Illinois Probate Act can be amended.
Presumptively Void Transfers to caregivers – A bit of mercy please?By Paul PetersonReal Estate Law, January 2018Compared to the existing financial elder abuse sections in the Probate Act, the Transfer Article has the assumption of guilty until proven innocent, more stringent burdens of proof, stricter punishments and no possibility of judicial leniency. This article asks that the burden of proof be amended, that judges be allowed to void just the transfer to the caregiver where appropriate and be given the same discretion to mitigate the loss of the entire transfer as is given in the other sections dealing with financial elder abuse in the Probate Act.
231 W. Scott - What is an attorney supposed to do?By Paul PetersonConstruction Law, December 2017The nightmare that is 231 W. Scott points out several areas that an owner and the owner's attorney should focus on when entering into a construction project.
The sworn contractor’s and subcontractor’s statementsBy Paul PetersonConstruction Law, March 2017Balancing the desire to obtain good statutory documentation and the need to get the parties paid so the job gets done is not well understood and is not an easy job.
Implementing the bond as substitute security for a mechanics lien claimBy Paul PetersonConstruction Law, March 2016Author Paul Peterson's article discusses implementing the bond, provides suggested forms and authorized sureties who can give a 770 ILCS 60/38.1 bond in Cook County, Illinois as of March 14, 2016.
North Shore Bank and the ever-changing work completion datesBy Paul PetersonReal Estate Law, June 2015In this case the First District Appellate Court was confronted with two mechanics lien claims where neither claimant could prove they did work on the work completion date sworn to in their respective mechanics lien claims and reaffirmed under oath in various court filings.
North Shore Bank and the ever-changing work completion datesBy Paul PetersonCommercial Banking, Collections, and Bankruptcy, June 2015In this case the First District Appellate Court was confronted with two mechanics lien claims where neither claimant could prove they did work on the work completion date sworn to in their respective mechanics lien claims and reaffirmed under oath in various court filings.
North Shore Bank and the ever-changing work completion datesBy Paul PetersonConstruction Law, February 2015In this case the First District Appellate Court was confronted with two mechanics lien claims where neither claimant could prove they did work on the work completion date sworn to in their respective mechanics lien claims and reaffirmed under oath in various court filings.
To bond or not to bond: Why is there a Question?By Paul PetersonConstruction Law, October 2013House Bill 2804, which will be reintroduced in the fall, will allow Illinois to join 48 other states that allow interested parties to post a statutory bond to substitute for real estate as security for paying a mechanics lien claim.
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