Real estate ethics cornerBy Michael J. RooneyReal Estate Law, February 2012Two recent disciplinary cases share a number of interesting features, though one arose in the Chicago area and one downstate in Lincoln.
Rising farmland values: Causes and concernsBy Lewis F. MatuszewichAgricultural Law, August 2011The Federal Reserve Bank of Chicago will hold, on November 15, 2011, an all-day Conference to explore the factors contributing to a large increase in agriculture land prices and agricultural cash rental rates in the Midwest.
Country roads: Who owns them?By Robert F. RussellReal Estate Law, July 2011After searching the records at the courthouse and at the county superintendent’s office, the sellers’ attorney should be able to determine whether the road or roads in question were established by statute or by a dedication that conforms with the Illinois Plat Act.
Acquiring real estate in different jurisdictions: Common practiceBy Silvia Alcoverro & Gerard HernandezInternational and Immigration Law, December 2010A look at the main concerns and worries of transnational investors and operators in their real estate transactions.
2010 legislative summaryBy Douglas M. KarlenReal Estate Law, November 2010New legislation affecting real estate law and practice, litigation, and title insurance law and practice.
Beware Blockshopper.com: A call to actionBy Julie A. NeubauerWomen and the Law, May 2010A call for all those in opposition to the practices of Blockshopper.com to speak out against it.
The need to review Illinois residential installment contractsBy Jack H. TibbettsReal Estate Law, May 2010When using an installment contract, the parties should always consider the impact of the Illinois mortgage foreclosure law as well as the title insurance needs at the time of closing.
Legislative reportBy James K. Weston, Sr.Real Estate Law, April 2010Recent legislation affecting real estate law.
A modest proposalBy Myles JacobsReal Estate Law, February 2010This article concerns one of those things we do because we have always done so. As we all know, lawyers do many things because “that’s the way we have always done it.”
Property acquired in contemplation of marriageBy Thomas A. ElseFamily Law, February 2010In deciding whether property is marital or non-marital for purposes of allocation and division under the terms of the Illinois Marriage and Dissolution of Marriage Act, the statute itself is sometimes less than helpful.
Beware the public wayBy Donna J. Pugh & Michael CassataReal Estate Law, October 2009To be fully prepared to handle the responsibilities of property maintenance, owners and managers must be aware of public way uses related to their property and the arduous process for obtaining or renewing a permit.
Case law updateReal Estate Law, October 2009A recent case of interest to real estate law practitioners.
Distressed condominium property legislationBy Joel L. ChupackReal Estate Law, October 2009This is a major piece of litigation, empowering the courts with the heretofore non-existent power to authorize the sale of an entire condominium property. In short, the courts will have the power to appoint a receiver for the condominium property, and if the property is found to be distressed and not viable as a condominium, to de-convert it and sell the property as a whole.
Legislative updateReal Estate Law, October 2009A legislative note of interest to real estate law practitioners.
Beyond the title insurance policy: Protecting sellers of Illinois real estateBy Michael J. RooneyReal Estate Law, September 2009For purchasers and lenders, the new Standard CPL may suffice. For sellers, the new Standard CPL needs to be modified as described in this article. In either event, counsel can and should verify that the title agent has been properly registered with the Secretary, authorized to act as escrowee and that such authority has not been revoked or limited prior to the closing.
Case law updateBy Adam B. WhitemanReal Estate Law, September 2009Summaries of two recent cases of interest to real property attorneys.
LEED in real estateBy Margery NewmanReal Estate Law, September 2009Leadership in Energy and Environmental Design (“LEED”), also known as green building, is taking hold across the country. According to the National Association of Home Builders “between 40 percent and 50 percent of the homes built in 2010 are expected to be green.” Here's what you need to know.
Defining the contours of subrogationBy Samuel H. LevineReal Estate Law, June 2009Four recent cases have addressed the contours of equitable and conventional subrogation in the context of refinancing mortgagees.
Negotiating Loan Modifications for ClientsBy Tracie R. Porter & Michael W. van ZalingenReal Estate Law, June 2009Homeowners need to know options are available when they find themselves having difficulty paying their mortgage. Whether the assistance comes through the lender/servicers or the federal government, homeowners need to know when to stay in the game and keep their homes, and when to count their losses and move out of a bad situation. Attorneys who are equipment with the information to help their clients will find that they can still provide real HOPE for continued home ownership for their clients.
Road map to closing on a co-operative apartmentBy Roberta C. ConwellReal Estate Law, June 2009When the real estate practitioner encounters a co-op transaction for the first time, it is not a smooth ride. There are numerous roadblocks that pop up and you have to know how to get around them. This is not the same as selling a house or a condo. In the interest of saving yourself from having to re-invent the wheel, you can use the following roadmap as a starting point in your research.
The Cook County Board amends the Cook County Real Property Classification OrdinanceBy Leonard F. Amari, Vesna Marusic, & Katherine A. AmariReal Estate Law, April 2009The changes with the newly adopted ordinance, as it is hoped by the enactors, would reduce the burden on homeowners the significant burden of the cost of government, but, arguably, real estate taxes will still result in property owners experiencing property tax increases. It is imperative to closely follow real property values and file annual assessment challenges to ensure reasonable taxation. Taxpayers have a host of remedies available in their attempt to reduce the assessment on their real property.
An examination of lease subordination issues in an economic downturnBy David J. AlexanderReal Estate Law, April 2009If negotiating a lease as a tenant, tenant’s counsel or tenant’s broker, be certain that the basic language regarding subordination, non-disturbance and attornment is present and clearly stated so as to ensure that the tenant is adequately protected.
