Real Estate Law

Is Selling Title Insurance a “Business Transaction”?

By Joseph R. Fortunato & Steven B. Bashaw
January
2010
Column
, Page 50
A reference to the sale of title insurance in the new rules has some lawyers concerned.

The Implied Warranty of Habitability in Illinois: A Critical Review

By Roger L. Price & M. Ryan Pinkston
February
2010
Article
, Page 92
A look at the implied warranty of habitability for Illinois homebuyers from the perspective of counsel for builders and sellers.

ISBA Opinion 10-02 Reins in Real Estate Brokers

By Peter J. Birnbaum
April
2010
Column
, Page 212
This new ethics opinion is good news for real estate lawyers, the author contends.

The Foreclosure Explosion: How Illinois Courts Are Responding

By Joseph R. Fortunato & Steven B. Bashaw
July
2010
Column
, Page 380
How judges, lawyers, and litigants in Chicagoland are responding to the foreclosure crisis.

Wilder Corporation of Delaware v. Thompson Drainage and Levee District

Federal 7th Circuit Court
Civil Court
Indemnity
Citation
Case Number: 
No. 11-1185
Decision Date: 
September 27, 2011
Federal District: 
C.D. Ill.
Holding: 
Affirmed
Dist. Ct. did not err in granting defendant’s motion for summary judgment in action under common law indemnity theory alleging that defendant was required to reimburse plaintiff for damages it incurred when third-party purchaser of plaintiff’s land successfully sued plaintiff for environmental cleanup costs where: (1) in contract with third-party, plaintiff breached warranty that land would be free from contamination; and (2) plaintiff alleged that defendant was source of said contamination. Plaintiff cannot invoke non-contractual indemnity to shift risk that it assumed in contract for sale of land, and plaintiff could have protected itself by including in land contract subrogation clause that would have allowed plaintiff to step in third-party’s shoes as plaintiff in subsequent nuisance lawsuit against defendant to recoup instant cleanup costs.

Active Duty Military: A Special Class of Distressed Homeowners

By Steven B. Bashaw
October
2011
Column
, Page 532
Being forced to sell a home in this economy is a recipe for financial misery.

In re Application of the County Treasurer and Ex Officio County Collector of Cook County, Illinois v. OneWest Bank

Illinois Appellate Court
Civil Court
Real Estate Taxes
Citation
Case Number: 
2011 IL App (1st) 101966
Decision Date: 
Thursday, August 25, 2011
District: 
1st Dist.
Division/County: 
Cook Co., 4th Div.
Holding: 
Affirmed.
Justice: 
LAVIN
(Court opinion corrected 9/1/11.) Homeowner failed to pay her real estate taxes in amount of $1383 on two-flat apartment building. Court properly denied tax deed pursuant to Property Tax Code, as attempted purchaser failed to give proper notice of redemption period, per Section 22-5 of Code, and failed to exercise due diligence in serving notice per Section 22-10 of Code. Servicer for noteholder's successor was entitled to notice, as purchaser could have learned of servicer's existence by calling MERS, and Code reqires only that a party have an interest in property to be entitled to notice. (PUCINSKI and SALONE, concurring.)

Public Act 97-552

Topic: 
Municipalities and zoning
(Senger; R-Naperville; Sandack, R-Downers Grove) allows municipalities of fewer than 500,000 to adopt rules of procedure or authorize zoning board of appeals and any other board, commission, or committee that conducts similar public hearings to do so. Effective August 25, 2011.

Public Act 97-555

Topic: 
Transfer on death instrument
(Bradley, D-Marion; Wilhelmi, D-Joliet) creates the Illinois Residential Real Property Transfer on Death Instrument Act. It allows an owner of real estate to transfer residential property on his or her death. The definition of "residential property" is borrowed from the Disclosure Act and the Mortgage Foreclosure Act. The act requires that the owner (1) sign in front of a notary and two credible witnesses and (2) have the same mental capacity to execute a TODI as is required to make a will. Effective January 1, 2012.

Public Act 97-533

Topic: 
Deed restrictions and special-service areas
(Althoff, R-Crystal Lake; Mautino, D-Spring Valley) prohibits a deed restriction or restrictive covenant from waiving or restricting the statutory rights to notice of a public hearing or the right to object, oppose, or challenge (1) the creation of a special-service area; (2) the levy of any tax of a special-service area; or (3) the issuance of bonds of a special-service area. Effective August 23, 2011.