Section Newsletters

Articles From Paul Peterson

Commercial Property Insurance Policy Did Not Cover Ordered Demolition of Condominium Building By Paul Peterson Real Estate Law, February 2024 A summary and analysis of Horizon West Condominium Homes Ass'n v. Travelers Indemnity Co. of Connecticut, in which the U.S. Court of Appeals for the Seventh Circuit affirmed the dismissal of the association's suit against its insurer after the condo building was ordered to be evacuated and demolished at the expense of the association.
General Assembly Bills Reviewed by the ISBA Real Estate Law Section Council By Paul Peterson Real Estate Law, October 2023 Summaries of bills reviewed by the Real Estate Section Council that have become public acts.
Key Changes With the 2021 ALTA Owner’s Policy By Paul Peterson Real Estate Law, January 2023 The American Land Title Association has issued its new 2021 policies, commitments, and selected endorsements.
Documentation Issues With the Wage Payment and Collection Act By Paul Peterson Construction Law, August 2022 Public Act 102-1076, known as the Wage Payment and Collection Act, became effective June 10, 2022, making a contractor personally liable for unpaid lower tier wages and unpaid union dues.
New Fannie Mae Condominium Underwriting Addendum: Speculations on Issues for Owners, Buyers, Lenders, Associations, and Developers By Paul Peterson Real Estate Law, February 2022 The new Fannie Mae loan underwriting requirements for condominium and co-op units are designed to foster homeowner sustainability.
New Fannie Mae Condominium Requirements By Paul Peterson Real Estate Law, November 2021 Effective January 1, 2022 for all loans secured by units in condominiums and co-op projects with five or more attached units, regardless of the type of project review or review waiver, Fannie Mae has made new requirements of appraisers and lenders.
Baldwin Enterprises: Another Percent Completed Dispute By Paul Peterson Construction Law, May 2021 A summary and analysis of Baldwin Enterprises, Inc. v. Articon Hotel Services LLC.
Luxury Condominium Mechanics Lien Issues in Illinois By Paul Peterson Real Estate Law, March 2021 It may be time for title insurers to change how the mechanics lien risk in insuring luxury condominium unit sales is underwritten.
Luxury Condominium Mechanics Lien Issues in Illinois By Paul Peterson Construction Law, February 2021 It may be time for title insurers to change how the mechanics lien risk in insuring luxury condominium unit sales is underwritten.
Luxury Condominium Mechanics Lien Issues in Illinois By Paul Peterson Real Estate Law, August 2020 It may be time for title insurers to change how the mechanics lien risk in insuring luxury condominium unit sales is underwritten.
From the Ex-Officio: The Year in Review By Paul Peterson Construction Law, July 2020 A look at what the Construction Law Section Council accomplished during the 2019-20 bar year.
Potential Real Estate Concerns Under the New Illinois Trust Code By Paul Peterson Elder Law, April 2020 Article 5 of the new Illinois Trust Code poses several issues that deserve consideration.
Potential Real Estate Concerns Under the New Illinois Trust Code By Paul Peterson Real Estate Law, March 2020 Article 5 of the new Illinois Trust Code poses several issues that deserve consideration.
Potential Real Estate Concerns Under the New Illinois Trust Code By Paul Peterson Trusts and Estates, February 2020 Article 5 of the new Illinois Trust Code poses several issues that deserve consideration.
Proper Payment Defense Against Mechanics Lien Claims in Illinois: Reliance on Sworn Statutory Statements By Paul Peterson Construction Law, October 2019 A discussion of some of the key cases construing the interplay between the proper payment defense and statutory sworn statements.
Retention Limitation: Another Wrinkle to the Illinois Contractor Prompt Payment Act By Paul Peterson Construction Law, October 2019 Public Act 101-0432 has added a retention limitation to the Illinois Contractor Prompt Payment Act effective for construction contracts entered into after August 20, 2019.
The effect of an order declaring heirship By Paul Peterson Trusts and Estates, January 2019 The Cook County Recorder of Deeds indicated on November 5 that it is not going to record heirship deeds or affidavits of heirship unless they are accompanied by an order declaring heirship. This article focuses on the effects of this procedure.
The effect of an order declaring heirship By Paul Peterson Real Estate Law, November 2018 The Cook County Recorder of Deeds indicated on November 5 that it is not going to record heirship deeds or affidavits of heirship unless they are accompanied by an order declaring heirship. This article focuses on the effects of this procedure.
1 comment (Most recent November 30, 2018)
Presumptively Void Transfers to caregivers – A bit of mercy please? By Paul Peterson Trusts and Estates, October 2018 Caregivers are a necessary and desired part of our society. Yet some caregivers are guilty of fraud, duress, or undue influence. This article reflects on the issue and how the Presumptively Void Transfers Article of the Illinois Probate Act can be amended.
Presumptively Void Transfers to caregivers – A bit of mercy please? By Paul Peterson Real Estate Law, January 2018 Compared to the existing financial elder abuse sections in the Probate Act, the Transfer Article has the assumption of guilty until proven innocent, more stringent burdens of proof, stricter punishments and no possibility of judicial leniency. This article asks that the burden of proof be amended, that judges be allowed to void just the transfer to the caregiver where appropriate and be given the same discretion to mitigate the loss of the entire transfer as is given in the other sections dealing with financial elder abuse in the Probate Act.
231 W. Scott - What is an attorney supposed to do? By Paul Peterson Construction Law, December 2017 The nightmare that is 231 W. Scott points out several areas that an owner and the owner's attorney should focus on when entering into a construction project.
The sworn contractor’s and subcontractor’s statements By Paul Peterson Construction Law, March 2017 Balancing the desire to obtain good statutory documentation and the need to get the parties paid so the job gets done is not well understood and is not an easy job.
Implementing the bond as substitute security for a mechanics lien claim By Paul Peterson Construction Law, March 2016 Author Paul Peterson's article discusses implementing the bond, provides suggested forms and authorized sureties who can give a 770 ILCS 60/38.1 bond in Cook County, Illinois as of March 14, 2016.
North Shore Bank and the ever-changing work completion dates By Paul Peterson Real Estate Law, June 2015 In this case the First District Appellate Court was confronted with two mechanics lien claims where neither claimant could prove they did work on the work completion date sworn to in their respective mechanics lien claims and reaffirmed under oath in various court filings.
North Shore Bank and the ever-changing work completion dates By Paul Peterson Commercial Banking, Collections, and Bankruptcy, June 2015 In this case the First District Appellate Court was confronted with two mechanics lien claims where neither claimant could prove they did work on the work completion date sworn to in their respective mechanics lien claims and reaffirmed under oath in various court filings.
North Shore Bank and the ever-changing work completion dates By Paul Peterson Construction Law, February 2015 In this case the First District Appellate Court was confronted with two mechanics lien claims where neither claimant could prove they did work on the work completion date sworn to in their respective mechanics lien claims and reaffirmed under oath in various court filings.
1 comment (Most recent February 28, 2015)
To bond or not to bond: Why is there a Question? By Paul Peterson Construction Law, October 2013 House Bill 2804, which will be reintroduced in the fall, will allow Illinois to join 48 other states that allow interested parties to post a statutory bond to substitute for real estate as security for paying a mechanics lien claim.
Cypress Creek decision legislatively reversed By Paul Peterson Commercial Banking, Collections, and Bankruptcy, July 2013 When all is said and done, it is likely that after PA 97-1165 (signed February 11th of this year), construction lenders will be more cautious in their construction lending and will charge an increased interest rate to cover the increased risk of additional mechanics lien losses in Illinois.
Cypress Creek decision legislatively reversed By Paul Peterson Construction Law, May 2013 The practical effect of PA 97-1165 is that lien claimants will be paid their contract amount on most completed jobs whether or not they have priority over the construction lender.
The Illinois sworn contractor’s statement: An owner’s defense and an owner’s obligation By Paul Peterson Construction Law, May 2012 Acceptance of a statutory sworn contractor's statement that does not meet the requirements of Section 5 may leave the owner with obligations and no corresponding benefits. 

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