Ethical Issues in Distressed Real Estate

Real estate attorneys work with deeds every day. Attorneys for sellers of land prepare deeds for their closings. Attorneys may think that “deeds” are a fairly mundane topic, but Dick Bales hopes to prove otherwise. Dick has put together a comprehensive handout discussing virtually every facet about deeds, including such matters as the Doctrine of After Acquired Title, Dresser Drawer Deeds, Signature by Mark, and Underwriting Wild Deeds. Public Act 102-927 recently amended 765 ILCS 5/8, the statute on special warranty deeds. This new legislation has resulted in some controversy. Dick has attempted to study the issues from all angles, and he hopes to provide some thoughtful commentary on this very topical subject.

Nora Devine, a high-volume property tax appeal attorney, and Bradford Miller, a high-volume real estate closing attorney, share their property tax proration processes and best practices. You will learn the broad mechanics of property tax payments in Illinois and best practices for the common pitfalls at the closing table. The presenters have included worksheets and forms in the materials that you can utilize in your real estate closing practice.

Learn about the status of Illinois law (2022) with regard to foreclosures and about various loss mitigation options, including conventional sales, short sales, use of bankruptcy, foreclosures of reverse mortgages, modifications, consent judgments, and deeds in lieu of foreclosure.