The health and economic impacts of the Coronavirus epidemic will assuredly touch virtually every corner of the World before it is brought under control. And while the virus has many fearing for their health, it is casting a much longer and darker shadow over many sectors of our national and global economies. As voluntary… Read more »
Important to owners, condominium associations, property managers and tenants, the law includes an amendment to the Illinois Condominium Property Act which allows condominium associations to place certain restrictions on the smoking of marijuana, both in common elements and in private units.
Conflicts between owners are inherent in shared community living. And whether misconduct is a result of an owner’s natural personality or a result of medical conditions affecting that owner, the Association and its Board cannot simply turn a blind eye. As there may be a number of corollary issues to carefully consider — rights… Read more »
Conflicts between smokers and non-smokers in shared living communities is a common source of friction. Just as with noise complaints, resolution of these disputes often must be dealt with on a case-by-case basis. Unless your association amends its Declarations to ban smoking completely, your neighbor is in her right to smoke within the confines of her unit. That does not mean, however, that she may necessarily do so to the detriment of her neighbors.
Whenever a homeowner or condominium association is formed by a developer, it is established by virtue of a Declaration which is recorded with the County Recorder. That Declaration includes a schedule of all of the Units in the association and their corollary ownership percentage. These percentages are the common element ownership percentages allocated to… Read more »
In Illinois, one of the seminal cases regarding the implementation of leasing restrictions is Apple II Condominium Association v. Worth Bank & Trust Co. In that case, the court held that associations may prohibit leasing by either Board action or ownership approval, depending on the terms of their Declaration.
A contractor who doesn’t get paid for doing work on someone’s home or real estate property has a useful method of enforcing his or her collection rights – the filing and prosecuting of a mechanics lien against that real estate property. Mechanics liens are products of state law and, in Illinois, are authorized and governed… Read more »
The recently-enacted tax law changes are substantial, and are already greatly affecting all areas of industry, real estate included.
Whether foreign citizens are buying and selling pied-a-terres, vacation or second, even third homes here in the States, they are, quite clearly, a highly valuable target segment in the luxury home market.
To the unfamiliar, a Chapter 13 plan is a cumbersome document that could negatively impact one’s rights. A Chapter 13 plan must treat all of a debtor’s creditors, both secured and unsecured. Treatment, however, does not necessarily mean full payment.