The so-called Presumptively Void Transfers Act: Yet another trap for the unwaryBy Michael J. RooneyReal Estate Law, October 2016The co-called “Presumptively Void Transfers Act” is allegedly designed to protect the elderly who are feeble in body and/or mind and who are subject to overreaching by a “caregiver.” In this article, the author argues that although that statement of the seeming intent of the Act and the operative section is simple, it is wrong.
Oil and gas law for the non-oil and gas lawyerBy John C. RobisonMineral Law, September 2016An overview for the practitioner who only occasionally encounters real estate with oil and gas issues.
Pouring over water certs and utility prorationsBy Adam B. WhitemanReal Estate Law, September 2016Many municipalities require a water meter reading to be scheduled shortly before a closing as a pre-requisite to obtaining transfer stamps. However, City of Chicago water certifications are valid for up to 60 days. This creates a possibility that the water cert might not accurately reflect how much water is actually used prior to the closing.
Read ‘em and weep… in cards. Don’t read ‘em and weep… in lawBy Michael J. MaslankaReal Estate Law, September 2016It is well-settled law in our state that a competent adult is charged with knowing and accepting the document he voluntarily signs and that his ignorance of what it says does not avoid its legal effect.
What NOT to include in your attorney modification lettersBy Colleen L. SahlasReal Estate Law, August 2016Modification letters that haven’t been thought through or well written can result in undermining our client’s best interests.
Tax sale purchase deemed fraudulent transferBy Megan G. HeegReal Estate Law, July 2016In Smith v. Sipi, LLC, a decision that could have a chilling effect on the Illinois real estate tax buying process, the Seventh Circuit held that a tax buyer was liable to a debtor in bankruptcy for a prior Illinois real estate tax sale on the basis that the tax sale was a fraudulent transfer.
Commercial tenancies: Clearly define every term in a lease agreementBy Justin C. StraneBusiness Advice and Financial Planning, June 2016A recent appellate decision, Battaglia v. 736 N. Clark Corp., reminds us to clearly define all terms during commercial lease negotiations.
Germaneness is being ignored in recent association forcible casesBy Mark R. RosenbaumReal Estate Law, June 2016Under recent caselaw, issues of lien rights appear to possibly now be a proper subject for claims and defenses in forcible court. I believe this is a mistake and that increased application of the concept of germaneness is necessary to correct the situation.
Lenders and contaminated propertyBy Eugene P. Schmittgens, Jr.Business Advice and Financial Planning, May 2016Establishing proper safeguards and with a property with a viable end-use, contaminated properties can be profitable for all parties.
Caught by recaptureBy Michael G. CortinaReal Estate Law, April 2016Not only did the appellate court affirm the decision of the trial court, which found that recapture rights are not a part of real estate and cannot be terminated by foreclosure, it also affirmed the decision to award $179,000 in attorneys’ fees to the appellee as the prevailing party in the litigation.
Revocable living trust, tenancy by the entirety, and a little loss of privacyBy Michael J. MaslankaReal Estate Law, April 2016As a result of Loventhal v. Edelson, bankruptcy attorneys should be sure to list the tenancy by the entirety exemption on Schedule C of the bankruptcy petition, and real estate attorneys should be reminded to have both spouses sign any deed conveying their property to themselves as tenants by the entirety, whether in a trust or otherwise.
Pick your title: “Just Don’t Do It!” … “Ethical Common Sense” … “Everyone is Tempted”By Michael J. MaslankaBusiness Advice and Financial Planning, December 2015It could easily happen that a transaction must close or is ready to close and a particular signature or notarization is missing. You need that signature and/or notarization. What do you do?
Big Brother is watching… your house!By Michael J. MaslankaReal Estate Law, November 2015Homeowners better not ignore municipality or other local governmental notices regarding code violations, as Big Brother almost always wins.
What does “cf.” mean again?By Michael J. MaslankaReal Estate Law, November 2015The 2nd District Appellate Court answered this question in its opinion filed on March 21, 2012 in the case of In Re Marriage of Romano.
Sovereign immunity and negligent inspectorsBy Adam B. WhitemanReal Estate Law, October 2015A victim of defective construction recently asked the author to sue a village because the village inspector approved the defective work. Here is what the author found in researching the issue.
A no-no by statute and caselawBy Michael J. MaslankaReal Estate Law, September 2015In the case of Curielli v. Quinn, et al., decided by the First District Appellate Court on August 4, 2015, the Court held that an attorney cannot act as an attorney and a real estate broker at the same time for the same client, in the same transaction.
7th Circuit speaks on ethicsBy Michael J. MaslankaReal Estate Law, August 2015Takeaways from Peterson v. Katten Muchin Rosenman LLP of interest to transactions attorneys.
