In this 1.25 hour presentation, the Illinois Real Estate Lawyers Association brings regulators from the Illinois Department of Financial & Professional Regulation to its membership to discuss the implementation of the state's revised DS-1 form ("Disclosure of Controlled Business Arrangement"), which will go into effect on March 1, 2022. This presentation walks attorneys through the proper completion of the form, addressing the ethical and legal issues that face practitioners when they function in the dual role of attorney and title agent in residential real property conveyances.
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.