Current Issue: May 2013 (pdf)

Tax Appeals Before a Board of Review
By IAR Chief Legal Counsel Steve Bochenek.
Recently there has been much discussion among members of the Association regarding the role of a real estate licensee in a tax appeal before a Board of Review. Part of the recent conversation was due to a debate before the Lake County Board of Review and a decision by the Lake County Board of Review to provide that during the appeal of taxes before the Board of Review the homeowner could either represent themself or be represented by an Illinois licensed attorney. Members of the Illinois Association of REALTORS® (“IAR”) have been vocal in regards to the role of a REALTOR® in the tax appeal process before the Board of Review. This article is intended to address some of those issues that have been the subject of much discussion. Read more >

Six legal case studies are covered in this issue. 1) Illinois Appellate Court finds unconscionable a contract to obtain mortgage foreclosure surplus and explains new procedures to protect mortgagors, 2) Failure to repair common areas may be an affirmative defense to eviction for failure to pay condominium assessments—but possibly not for long, 3) Shutting your eyes for fear of what you might learn may be evidence of intent to defraud, 4) Offer must be accepted as required by offeror; contract will not be binding with unspecified material term, 5) Buyer Beware Clause does not extend to defects not discovered by buyer’s reasonable inspection, 6) Chicago tenant need not terminate lease prior to recovering one month’s rent for landlord’s failure to disclose code violations. Read more >

Real Estate Disciplines. Among the recent disciplinary actions taken by the Real Estate Division of the Illinois Department of Financial and Professional Regulation (IDFPR): A managing real estate broker license was suspended for one year, followed by being placed on probation for four years and fined $5,000 for aiding and abetting the unlicensed practice of real estate and failing to supervise subordinate employees. Read more >

NEW! IDFPR Compliance Guide. The compliance guide from the Illinois Department of Financial and Professional Regulation (IDFPR) is now available from the IDFPR website “Real Estate Office Examination Program.” It includes two downloads to assist the licensee in the compliance process: 1) Sponsoring Broker Responsibilities Pamphlet, and 2) Escrow Account and Record Keeping Requirements. http://www.idfpr.com/dpr/re/realest.asp

IAR Legal Webinar: Heard It on the Hotline. 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. (Note: Member login required for this exclusive IAR member benefit.) In the April 25 webinar "Will I Look Good in Horizontal Stripes?" IAR Chief Legal Counsel Steve Bochenek and Legal Hotline Attorney Betsy Urbance discussing the scope of the brokerage license and potential consequences for crossing the line including the topic of the tax appeal process.

RVOICE: REALTOR® Involvement in Local Elections Makes a Big Difference! The Illinois REALTORS® Political Action Committee (RPAC) provided both direct contributions and extra grassroots support to a total of 69 local candidates in the April 9th Consolidated Election in Illinois.  Fifty of the 69 candidates emerged as victors in their respective races.  Most of the 69 candidates received a direct RPAC contribution. The grassroots program, known as an “Opportunity Race,” entailed 19 races - 13 were won by RPAC-supported candidates (68% win rate).  In an Opportunity Race, RPAC funds a mail piece (directed to REALTORS®) and urges a vote for the RPAC-supported candidate. Read more >

Broker Management CE Makeup Class. May 13-14 sponsored by the Illinois Association of REALTORS® in conjunction with Mainstreet Organization of REALTORS® at two two locations: Arlington Heights & Downers Grove. 

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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