The Real Estate Lawyer's Guide to the Transfer on Death Instrument (TODI)

A comprehensive guide to all of these so-called “authority documents”—the various documentation that an attorney and title company need to review in order to underwrite the conveyance or mortgage of Illinois land by entities as common as corporations and as unusual as unincorporated associations.

Real estate attorneys deal with Real Property Disclosure Statements every day. However, we seldom review the Disclosure Act to refresh our memories as to the who, what, and when of seller disclosure requirements. There are a number of exceptions exempting sellers from disclosing certain information, or from disclosing at all. There are also nuances of which we should be aware. As Sellers may subject themselves to significant consequences for failing to properly disclose under the Act, as attorneys we need to advise clients properly. Delve into the specific requirements of the Disclosure Act, its nuances, and select court cases under the Act.

Learn the general concepts of 1031 tax-deferred exchanges of real estate, including the technical and chronological requirements as well as the process, procedures and different structures. Leave with a basic working knowledge of 1031 transactions, and recognize some of the terminology and instances where a client may want to consider a 1031 exchange transaction or need the services of a professional qualified intermediary (QI), exchange accommodation titleholder (EAT), or registered investment advisor (RIA) in acquiring like-kind replacement property.