D.R. Legal News

Current Issue: March 2014 (pdf)

Illinois' Firearm Concealed Carry Act: Issues for Real Estate Brokerage
The lawful carrying of concealed firearms by licensed Illinois residents will soon begin in Illinois, thanks to legislation passed by the Illinois General Assembly last summer. Business owners, including those in the real estate brokerage industry, need to understand this law and consider what actions, if any, must be taken to protect their property, agents, employees, and clientele. After providing an overview of the law, this article will explore its impact on the real estate industry in Illinois and conclude with information about policy alternatives developed by the Illinois Association of REALTORS® for its members’ use. Read more >

  1. What the Law Says
  2. The Laws Impact on Real Estate Brokerage 
  3. Resources Available from IAR - sample office policy and forms, legal webinar
  4. Information from the Illinois State Police

Six legal case studies are covered in this issue. Read more >

  1. In Transfer of husband’s interest in house to wife was not a “sale” under listing agreement.
  2. Managing agent’s use of partially-owned cleaning company did not constitute a non-disclosed referral in violation of Real Estate License Act.
  3. Brokerage firm not entitled to commission when it procured buyer but tenant exercised right of first refusal.
  4. Buyers’ failure to comply with contract defeated claim of fraudulent disclosure even though Sellers did not comply with Residential Real Property Disclosure Act.
  5. Washington State Anti-SLAPP statute applied to derogatory internet comments about real estate agent.
  6. “Buyer beware” creates harsh results for buyers who fail to make inquiries after pre-purchase inspection. 

Real Estate Disciplines. Among the recent disciplinary actions taken by the Real Estate Division of the Illinois Department of Financial and Professional Regulation (IDFPR): 1) A real estate broker partnership license was revoked for discrepancies with an escrow account and failure to comply with Department standards on employment agreements and an unlicensed individual was ordered to cease and desist unlicensed practice of real estate and assessed a $25,000 civil penalty. 2) A real estate managing broker license was placed in refuse to renew status due to failure to comply with the Department’s request to examine the business and escrow records. Read more >

"Concealed Carry and the Real Estate Brokerage" - March IAR Legal Webinar. Each month IAR legal counsel presents a one-hour webinar on hot topics of the day. IAR members can download the programs at www.illinoisrealtor.org/legal/webinars. (Member login required.)

Online Only! D.R. Legal News and is published online only in a downloadable PDF format that is e-mailed to all IAR members who are the Designated REALTOR® (or D.R.) for their real estate office. Be sure to watch and open all e-mail from “IAR Communications” or the "Illinois Association of REALTORS."

The D.R. Legal News is e-mailed six times per year (January, March, May, July, September, November) to the Designated REALTOR® member of the Illinois Association of REALTORS®. For reprint permission, contact iarnews@iar.org.

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