A letter from Myles JacobsBy Myles L. JacobsReal Estate Law, December 2018A letter written by Myles Jacobs in the fall of 2018 reflecting on the principles he lived by.
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.
Post-closing issue? Don’t count on the Merger Doctrine to save youBy Daniel A. HuntleyReal Estate Law, November 2018Many clients do not understand, or simply are not aware of, the potential for transaction liabilities to continue after the successful closing of the sale of real estate.
So you want to be an urban farmer?By George D. MauridesAnimal Law, November 2018Both houses of the state legislature recently passed HB3418 amending the Civil Administrative Code of Illinois to allow the Department of Agriculture to provide for the creation of municipal urban agricultural areas.
The Presumptively Void Transfers to Caregivers Act in Illinois: Mercy with justiceBy Kenneth F. BergTrusts and Estates, October 2018The Presumptively Void Transfers to Caregivers Act amended Article IV of the Illinois Probate Act, making presumptively void certain instruments executed after January 1, 2015, that transfer property to caregivers in excess of $20,000. This article defends the act as passed by the legislature.
So you want to be an urban farmer?By George D. MauridesReal Estate Law, September 2018Both houses of the state legislature recently passed HB3418 amending the Civil Administrative Code of Illinois to allow the Department of Agriculture to provide for the creation of municipal urban agricultural areas.
Appraisals, valuations, and…“Zestimates”By Frank PellegriniReal Estate Law, July 2018In 2017, homeowners sued Zillow alleging violation of the Illinois Real Estate Appraiser Licensing Act, tortious intrusion upon seclusion, deceptive trade practices, and violation of the Illinois Consumer Fraud and Deceptive Business Practices Act for its "Zestimate" service.
Standing to collect rent arrearagesBy Gary R. GehlbachReal Estate Law, July 2018An overview on whether a subsequent owner of real property has standing to bring an action against a tenant of the property for rent that accrued prior to the transfer of ownership.
The Presumptively Void Transfers to Caregivers Act in Illinois: Mercy with justiceBy Kenneth F. BergReal Estate Law, May 2018The Presumptively Void Transfers to Caregivers Act amended Article IV of the Illinois Probate Act, making presumptively void certain instruments executed after January 1, 2015, that transfer property to caregivers in excess of $20,000. This article defends the act as passed by the legislature.
Rents-and-profit doctrine revisitedBy Kim M. CaseyReal Estate Law, May 2018The Second District Appellate Court upheld the priority of a mortgage lender’s interest in collected rents pursuant to their recorded assignments of rents over a lien based upon a citation to discover assets filed by a competing creditor in BMO Harris v. Contarino.
2002 real estate legislation of interestBy Marylou Lowder KentReal Estate Law, December 2002Governor George Ryan has completed action on all legislation passed by the Illinois General Assembly last spring.
Answers to quiz:Real Estate Law, December 20021. d
2. e
3. c
4. b, d & e
5. b
6. d
Mortgage defense 101By Harold I. LevineReal Estate Law, December 2002Lenders frequently assign or transfer their loans. Sometimes they are securitized. Sometimes the servicer seeks to foreclose.
The Senior Citizens Real Estate Tax Deferral ActElder Law, December 2002The Senior Citizens Real Estate Tax Deferral Act, 320 ILCS 30/1 et seq., enables senior citizens to defer paying their real estate taxes until after their death, a sale of the real estate, or a failure to qualify for the program.
Legal notice for foreclosure sale public auction real estateReal Estate Law, October 2002At the premises I, Lyle Dirks, having been designated by the Circuit Court of the Fourteenth Judicial Circuit, Whiteside County, Illinois in the case entitled Sterling Federal Bank, F.S.B., a Corporation v. Dennis O. Walrath, Sandra K. Walrath, and Mortgage Electronic Registration Systems, Inc., case No. 02 CH 7 ST as sale officer, to conduct the sale, will sell the following described property at public auction to the highest qualified bidder.
Response to article pertaining to third party purchaser at judicial foreclosure salesBy Phillip H. Ward, Jr.Real Estate Law, October 2002Messrs. Moody and Potter's thorough article on representing a potential third party purchaser at a foreclosure sale (Real Property newsletter, October 2001), furnishes an excellent argument for their firm (and many others) to change its sale procedure.
Will the collapse of Enron end the synthetic lease?By Jack H. TibbettsReal Estate Law, October 2002The collapse of Enron raises the issue of the propriety of using synthetic leases to keep the cost of purchasing real estate from the corporate reports of profit. The synthetic lease is used to purchase property by financing it as a lump sum payment in the future and paying the interest on the loan during the current years.
Editor’s noteReal Estate Law, April 2002A real estate lawyer may sound like an attorney who has limited him or herself to a narrow scope of practice, but as the articles here demonstrate, there's quite a range of concentrations within our diverse area of practice.
The effective use of arbitration in real estate disputesBy Stanley P. SklarReal Estate Law, April 2002Do you remember the movie, "Network" in which the anchor commentator screams from a window that "he won't take it anymore?"
Enforceablilty of intercreditor agreements in bankruptcyBy John C. MurrayReal Estate Law, April 2002A recent Illinois bankruptcy court decision, In re 203 N. LaSalle Street Partnership, 246 B.R. 325 (Bankr. N.D. Ill. 2000), deals specifically with the rights of parties to an intercreditor agreement.
A primer on construction issues for the construction lenderBy Stanley P. SklarReal Estate Law, April 2002Too often, the construction lender treats the construction loan as it would treat any other commercial loan, without anyone with significant background in the vagaries of the construction industry ready to "pull the plug" should the loan become "out of balance."
Summary of FCC satellite dish regulations affecting condominium/homeowner associationsBy Allan GoldbergReal Estate Law, April 2002The Telecommunications Act of 1996 directed the Federal Communications Commission ("FCC") to issue regulations that prohibit restrictions that impair a viewer's ability to receive video programming services through devices designed for over-the-air reception of television broadcast signals, multichannel multipoint distribution service, or direct broadcast satellite services.
A message from the chairReal Estate Law, March 2002Thank you for taking the time to read the Real Property newsletter. This newsletter is a product of the Real Estate Section Council of the Illinois State Bar Association.
Powers of attorney, guaranties and third party protectionBy Steven B. BashawReal Estate Law, March 2002Last month Dick Bales "beat me to the punch" with his views on AMCORE Bank N.A. v. Hahnaman-Alrecht, Inc. (2nd Dist., November 14, 2001), .
