Serendipity is defined as "making a desirable discovery by accident." Such has been my experience with the American Land Title Association (ALTA®). ATG has been a member of ALTA practically from our first day of operation. It has been a mutually beneficial relationship, and through that relationship our member agents have also benefited.

For more than a century, ALTA has given a voice to the abstract and title industry. Until recently, membership was limited to title agents, abstracters, and title insurance companies. Now you can benefit directly. ALTA is offering membership to individual real estate attorneys. For a limited time, you can join ALTA free for the rest of 2011 (read more).

ATG Members: We urge you to seriously consider joining to take advantage of the variety of practical and powerful resources only available through ALTA.

Peter J. Birnbaum
ATG President and CEO

 

 

ALERT! Foreign Time-Share Sales Scams — The Illinois Department of Financial and Professional Regulation (IDFPR), Division of Financial Institutions, has received information regarding scams that target consumers attempting to sell time-shares in foreign countries (primarily in Mexico) through the use of fraudulent and non-existent vacation management companies, escrow and title companies. Read the IDFPR Warning

Effective September 1, 2011: Attorneys Must Comply with New Trust Account Rules — The Illinois Supreme Court has approved new trust account rules, effective September 1, 2011, by amending Rule 1.15 of the Illinois Rules of Professional Conduct of 2010 (see the text of the new rule). The Lawyers Trust Fund of Illinois has published a list of the eligible financial institutions registered with the state relating to the new trust account requirements. This list is current as of August 3, 2011. We expect additional institutions will be added in advance of the September 1, 2011, implementation date. ATG Members: Please check the Underwriting Assistance area of our website for future updates.

 

PA 97-0143 — Amends the Residential Mortgage License Act of 1987 by adding to the definition of an "exempt person or entity" with another entity that is exempt from the mortgage licensing requirements, subject to certain limitations... read more

 

 

Robert Neises Const Corp v Grand Innovations, Inc —Mechanics' lien "relation back" refers to the time period about which a claim for compensation may be made, not to lien priority... read more

PHH Mortgage Corp v Mattfeld — When effecting service of process by publication, a party must prove that they published the legal notice in a newspaper "likely to give notice in the area" in which the party being served is located... read more

 

 

 

REMINDER: ARDC Censure and Title Agency Disclosure - ATG members and regional agents have a duty to disclose their relationship with ATG to the parties in real estate transactions... read more