Case law update: Real estate contractsBy Steven B. Bashaw & Joseph R. Fortunato, Jr.Real Estate Law, January 2011Recent cases of interest to real estate practitioners.
The use of receiverships for managing troubled assetsBy Samuel H. LevineCommercial Banking, Collections, and Bankruptcy, December 2010Receiverships are something that all lenders should consider in managing distressed real estate. Lenders should also consider creative ways for receivers to manage distressed assets to meet the needs of a particular asset.
Commercial real estate foreclosures in Illinois—They’re not always the sameBy Thomas M. LombardoCommercial Banking, Collections, and Bankruptcy, November 2009With the proliferation of real estate foreclosures in these difficult economic times, many experienced practitioners are finding themselves involved in some aspect of foreclosure litigation for the first time.
Transfer on death designations and title to real estateBy Werner GruberElder Law, July 2009Various methods exist to transfer property outside probate upon one’s death. One such tool, developed for use with bank accounts, involves a pay-on-death (POD) designation. Another tool, developed for use with securities, involves a transfer-on-death (TOD) designation.
H.B. 4050 back in the spotlightBy James K. Weston, Sr.Real Estate Law, June 2007The Illinois Department of Financial and Professional Regulation (“IDFPR”), as the overseer of the Predatory Lending Database Pilot Program Act better known as “HB 4050,” has published a new Rule for the reimplementation of that law.
Significant changes in real estate transfer taxes explainedBy Todd M Turner & Stephen J. BochenekReal Estate Law, February 2005Public Act 93-657 (SB 1883), effective June 1, 2004, amended the Real Estate Transfer Tax Law (35 ILCS 200/31-1 et seq.).
A comparison of single-family residential contract formsBy Steven P. ZimmermanReal Estate Law, December 2004The landmark case of Chicago Bar Association v. Quinlan and Tyson, Inc., 34 Il.2d 116, 214 N.E.2d 771 (1966), continues to define the right of licensed brokers and their agents (collectively, real estate licensees) to prepare real estate contracts on forms customarily used in the community while prohibiting these real estate licensees from engaging in other actions which would constitute the unauthorized practice of law.
A late summer real estate miscellanyBy Gary R. GehlbachReal Estate Law, September 2004The ebb and flow of real estate transactions produce various and sundry issues that may be applicable to transactional attorneys.
