Editor’s noteBy Gary R. GehlbachReal Estate Law, January 2008In case you missed Marylou Lowder Kent’s excellent summary of recently passed Illinois legislation (December 2007, Vol. 53, No. 6), Jim Weston has provided another summary.
E-alert—Rental equipment liensBy Margery NewmanReal Estate Law, December 2007On August 17, 2007, Governor Rod Blagojevich signed into law an amendment to the Illinois Mechanics Lien Act, Section 1.2 permitting liens for equipment rental.
Editor’s noteBy Gary R. GehlbachReal Estate Law, December 2007A reader of this publication recently posed this question: “I have some clients who hold a life estate in some farm land on which is a farm house which they rent out.
Answers to the June issue Practical ProblemsBy Robert Duffin & Myles JacobsReal Estate Law, November 2007The June issue raised two practical problems in residential real estate transactions.
Editor’s noteBy Gary R. GehlbachReal Estate Law, November 2007The typical illicit use of the first of the nine Plat Act exemptions (“The division …of land into…tracts of 5 acres or more…which does not involve any new streets or easements of access”) is a split of land that does, in fact, involve an access easement, expressed or implied.
ISBA Ethics Advisory Opinion 94-1Real Estate Law, November 2007This opinion is also available at http://www.isba.org/sites/default/files/ethicsopinions/94-01.pdf.
Legislative update: Ten new Public Acts that affect general practiceBy J.A. SebastianGeneral Practice, Solo, and Small Firm, November 2007The following is a summary of recent legislative action of interest to members of the ISBA General Practice, Solo, and Small Firm Section.
Editor’s noteBy Gary R. GehlbachReal Estate Law, October 2007The Plat Act (765 ILCS Act 205) is a much-used source of reference and a guide for many real estate projects for my clients.
Overview of attorney review casesBy Joseph R. Fortunato, Jr.Real Estate Law, October 2007Contract forms have contained clauses described variously as “Attorney Approval,” “Attorney Modification,” “Attorney Disapproval” and “Attorney Review.”
When a foreclosure sale preempts mortgagor’s right to sellBy Gary R. GehlbachCommercial Banking, Collections, and Bankruptcy, October 2007In Household Bank, FSB, v. Lewis et al., the First District of the Illinois Appellate Court reversed the Cook County trial court, finding that the expiration of the mortgagors’ statutory right of redemption precluded the mortgagors from selling the property.
Editor’s noteBy Gary R. GehlbachReal Estate Law, September 2007Summer vacation is over so it’s back to work, although I don’t recall a busier summer in the office.
Liability for construction claimsBy Margery NewmanReal Estate Law, September 2007The construction industry is rife with situations in which one party may become liable to or for another party in the construction process.
Severing a tripartite joint tenancyBy Gary R. GehlbachReal Estate Law, September 2007In law school we learned about the creation of joint tenancies and the four unities: time, title, interest and possession.
When a foreclosure sale preempts mortgagor’s right to sellBy Gary R. GehlbachReal Estate Law, September 2007In Household Bank, FSB, v. Lewis et al., 311 Ill.Dec. 677, 869 N.E.2d 351, the First District of the Illinois Appellate Court reversed the Cook County trial court, finding that the expiration of the mortgagors’ statutory right of redemption precluded the mortgagors from selling the property.
Editor’s noteBy Gary R. GehlbachReal Estate Law, August 2007Some of you may remember Mike Rooney, who was (and still is) quite involved in real estate matters, especially title matters and professionalism.
Related-party exchange approvedBy Gary R. GehlbachReal Estate Law, August 2007In the August 2006 issue of this publication, I outlined a procedure for a related party tax-deferred exchange, actually sanctioned by Congress (Vol. 52, No. 1).
Case law updateBy Samuel H. LevineReal Estate Law, July 2007Recent cases of interest to real property practitioners.
Editor’s noteBy Gary R. GehlbachReal Estate Law, July 2007This mid-summer issue features several articles that the readers will, hopefully, find informative.
The Series LLCBy Jason BarickmanReal Estate Law, July 2007Business owners, particularly those owning rental real estate or small businesses, often organize limited liability companies (LLCs) to own assets and insulate them from personal liability.
Vacation homes and Section 1031By Gary R. GehlbachReal Estate Law, July 2007Section 1031 of the Internal Revenue Code and the Regulations promulgated thereunder rather clearly provide that eligible property must be “held for productive use in a trade or business or for investment.”
Attorney General Opinion restricts county recordersBy Howard SamsonReal Estate Law, June 2007In the portion of this author’s article on land split considerations dealing with the Plat Act, which appeared in the February 2007 issue of this newsletter, it was stated that the Attorney General’s office was in the process of determining “whether the provisions of 765 ILCS 205/5a are broad enough to allow a county Recorder to require” that a Plat Act affidavit accompany every submitted deed, even one wherein the legal description was an undivided lot in an existing subdivision.
Editor’s noteBy Gary R. GehlbachReal Estate Law, June 2007In the last issue of this publication (April 2007, Vol. 52, No. 8) I suggested misgivings about the routine use of the general warranty deed and the casual reference to the quitclaim deed as a panacea for all real property ills.
