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13th Annual Real Estate Short Course

IICLE’s 13th Annual Real Estate Short Course will help both residential and commercial real estate practitioners take their practice to the next level! Plenary session highlights include a case law and statutory update, insight into how the Trump administration is affecting the practice, handling privacy and cybersecurity concerns, important updates on ALTA forms and title insurance, and a fair housing simulated mediation. Whether you are a novice or experienced practitioner, the educational and networking opportunities provided by this course are not to be missed!
  • Credits: 10 General, 0 Diversity/Inclusion PR, 0 MH/SA PR, 1.75 Other PR
  • Product ID: P9005-17U
  • Original Program Date: 9/19/2017
  • Formats:
    • DVD
    • Audio Download
    • e-learn

Description

Recorded: September 19 and September 20, 2017

 Day One

Moderator: Michael J. Rooney, IICLE, Springfield

Federal and State Regulation of Real Estate: The Impact of the First 242 Days of the Trump Administration
This presentation will cover numerous legislative updates, including the Real Estate Settlement Procedures Act (“RESPA”) and Truth In Lending Act (“TILA”) provisions of Dodd-Frank. It will also discuss potential statutes under consideration which may affect the Federal National Mortgage Association (“FNMA”) and the Federal Home Loan Mortgage Corporation (“FHLMC”). The Consumer Financial Protection Bureau (“CFPB”) and proposed bills that may change its structure and authority, as well as state initiatives affecting real estate practitioners, will also be covered.    
Frank Pellegrini, Prairie Title Services, Inc., Oak Park

Case Law and Statutory Update
William J. Anaya, Greensfelder, Hemker & Gale P.C., Chicago
Michael J. Rooney, IICLE, Springfield

Negotiating and Drafting Property Management Agreements
In this session, we’ll discuss common issues and resolutions with respect to negotiation of property management agreements from both manager and ownership perspectives.
Heidi J. Azulay, DLA Piper LLP (US), Chicago
Michael Eurich, Avison Young, Chicago

Real Estate, Internet & Privacy in the Information Age
Throughout history, advances in technology have often come with a corresponding intrusion on personal privacy.  With advent of the internet, and the myriad ways it has changed both the legal and business environment, personal privacy concerns have been on the increase.  This session discusses personal privacy issues relative to real estate ownership, from mortgage fraud to identity theft to the filing of false liens.  It gives attorneys methods for combatting their client’s internet over-exposure, such as the formation of LLCs, Land Trusts, and other title-holding entities.  It also covers legislation that has been passed with respect to privacy and real estate, such as the Judicial Privacy Act.
David Lanciotti, Chicago Title Land Trust Company, Chicago

Email Compromise and Wire Fraud – Protect Your Clients and Your Firm        
(1.0 Professional Responsibility Credit)
The explosion of cyber-crime has wreaked havoc upon the real estate industry over the past few years.  A successful strategy to combat it begins with the understanding of how it works, and why it is successful.  The implementation of some basic safeguards will be discussed.  The bulk of this conversation will be on proactivity, but a specific incident response plan for this crime will also be covered, focusing on the fact that time is critical in recovery of misdirected funds. Other risk mitigation strategies, including cyber insurance, will also be discussed.
Michael Weinstein, Fidelity National Financial, Chicago

Fair Housing Simulated Mediation
(0.75 Professional Responsibility Credit)
In this session, we will discuss alternative dispute resolution in the fair housing context. We will also review successful mediation strategies and practice them during a simulated fair housing mediation.
Yana Karnaukhov, U.S. Department of Housing and Urban Development, Chicago

 Adjourn Day One

Day Two

Real Estate-Based Causes of Actions
There are at least 20 causes of action which affect real estate from equitable actions such as specific performance, quiet title or partition to actions at law such as breach of contract over earnest money or fraud.  Other causes of action range from ejectment to foreclosure of a claim for mechanics liens. This segment will provide the basic elements of causes of action affecting real estate so that the real estate attorney can better represent his or her client.
Samuel H. Levine, Miller, CanfieldPaddock and Stone, P.L.C., Chicago
Ted M. Niemann, Schmiedeskamp Robertson Neu & Mitchell LLP, Quincy

The NEW (and Improved?) ALTA Forms … and Other Changes in the Title Insurance World
New federal laws and regulations along with curious court interpretations have prompted the ALTA Forms Committee to look into changes to the coverages and exclusions in the basic Owner’s and Loan Policies. This session will look into how those policies and companion endorsements might look in the future.
Jerry T. Gorman, Attorneys' Title Guaranty Fund, Inc., Champaign

Room A: Residential Track

Moderator: Michael J. Rooney

Room B: Commercial Track

Moderator: LaVon Johns

 

Residential Title Insurance

Understand various issues concerning residential title insurance, including: the title insurance commitment (what it is and what it is not); the Moorman doctrine; updating the commitment before the closing; Owner’s and Loan policies (what’s covered and what’s not covered); Endorsement basics; wire fraud and lost funds; and CPL’s on the residential side.

J. Michael Collins, Petra Title, LLC, Chicago

 

 

Opinion Letters

When a lawyer delivers a legal opinion letter, the lawyer is confirming that the transaction has been properly performed with respect to those matters which are the subject of the legal opinion letter.  Hence, Legal Opinion Letters create a potential source of liability for attorneys engaged in transactions. This session will address specific examples of opinion letter-based cases and provide specific policies and procedures that law firms should practice in order to reduce exposure when issuing legal opinion letters.

LaVon M. JohnsQuintairos, Prieto, Wood & Boyer, P.A., Chicago

Upneet S. TejiGreensfelder, Hemker & Gale P.C., Chicago


 

 

Residential Transactions Utilizing the Multiboard Contract

The current contract is a helpful tool but not meant to be comprehensive by any means.  The required diligence and ethical concerns vary on each transaction based on which party the attorney is representing.  Some helpful reminders on how to avoid conflicts of interest and some practice pointers from the day to day realm toward avoiding frustration, errors and problems for the parties will be reviewed in a discussion format.

Tom Anselmo, Anselmo, Lindberg & Associates, Naperville

David R. Schlueter, Law Office of David R. Schlueter, Itasca

 

 

Tax Reform:  Has the New Administration Accomplished Its Goals? Also: Bartell v. Commissioner - New Ruling Expands Sec. 1031 Reverse Exchanges

 

We will review what the New Administration promised, what it accomplished and what it means for taxpayers.  We’ll also explore a new ruling that expands the viability of reverse and improvement exchanges under Section 1031.

 

Hugh E. Pollard, Investment Property Exchange Services, Inc., Chicago

 

Real-Estate Tax Insider Edition:  Current Events and Practice Tips

This session will cover current events relating to real-estate taxes in Illinois, including: the attorney's role in property tax appeals, the governor’s proposed tax freeze and recent changes in the Cook County tax incentives.  It will also provide practice tips for transactional attorneys to shine as a trusted adviser to real-estate owners and tax payers.

Michael J. Elliott, Elliott & Associates, Des Plaines

 

What Color Is Your Commercial Contract?

 Commercial Real Estate Contracts should reflect the uniqueness of the Real Estate itself.  Our speakers are two veteran lawyers who will critique real estate contract forms and explain various strategies they use to document a commercial real estate transaction from negotiations to litigation and beyond.  

William J. Anaya, Greensfelder, Hemker & Gale P.C., Chicago

R. Kymn Harp, Robbins, Salomon & Patt, Ltd., Chicago

 

 

Residential Transaction Anomalies 

Transactions can become complex for reasons not apparent at the time of contract.  Practice pointers will be discussed about self-appointed executors, sellers who do not have possessory rights, other parties who lack authority to act in general and the impact of divorce and judgment liens affecting disbursement of closing proceeds. Email communication etiquette and traps will also be discussed.

Tom Anselmo, Anselmo, Lindberg & Associates, Naperville

David R. Schlueter, Law Office of David R. Schlueter, Itasca

 

 

Commercial Title Insurance: Surveys & Endorsements

Learn what title insurers are looking for and how to understand the myriad coverages provided as well as when you need them!  We will discuss Commercial Surveys (requirements [ALTA vs. Plat of Survey], how to properly read them, matters that affect title, and available coverages) and Review of Endorsements related to Surveys (ALTA 9 series, ALTA 28 [encroachments], Survey, Location, Access, Contiguity).

Samuel A. Shiel
Proper Title LLCPalatine
Heather R. SchuetteFirst American Title Insurance Company, Chicago

  

Adjourn Day Two

Materials

Available only for members that have purchased this product.

  • Program Materials
    13th Annual Real Estate Short Course
  • Program Materials
    13th Annual Real Estate Short Course
  • Program Materials
    13th Annual Real Estate Short Course
  • Click Here to Download Audio Files
    13th Annual Real Estate Short Course
  • Program Materials
    13th Annual Real Estate Short Course
e-learn
SKU: P9005-17E
$499.00 or 11.75 credits

Audio Download
SKU: P9005-17A
$499.00 or 11.75 credits

DVD
SKU: P9005-17D
$499.00

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