Real Property Disclosure Act

Dick Bales covers it all, from party and retaining walls, to covenants, conditions and restrictions (including liquor), private streets, alleys and the abandoned dedication, possible defenses against Adverse Possession, the Entry on Adjoining Land to Accomplish Repairs Act, The Illinois Drainage Code (70 ILCS 605/1-1 et seq.), The Fence Act (765 ILCS 130/1 et seq.), The Homeowners’ Energy Policy Statement Act (765 ILCS 165/1 et seq.), and Easements for Light and Air.

The legislation that originally created the Transfer on Death Instrument became law in 2012. It is codified as 755 ILCS 27/1 et seq. (“The Act.”) This statute was amended in 2015. There is now a second amendment, Public Act 102-0068, which is effective January 1, 2022. Public Act 102-0068 is truly a major revision of the Act. Consider just a few of these new changes: The Act is no longer the Illinois Residential Real Property Transfer on Death Instrument Act because the Act is no longer limited to just residential real estate. Effective January 1, 2022, a spouse can now renounce a Transfer on Death Instrument and take his or her statutory share. Dick Bales has put together a comprehensive 26-page handout where he thoroughly discusses all the changes to the Act. When appropriate, he uses situational examples to better illustrate these changes. In addition, he has put together a list of what he feels are some areas of concern to both attorneys and title companies.

Advanced Topics in Property Tax: Reassessment Update, Exemptions Explained, and Proration Disasters