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July-August 2014 | Volume 7 - Number 7

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Update from ATG Administration

Resolving Unclaimed Property in Illinois

What You Should Know about State Treasurer and ARDC Procedures

Many attorneys have real estate trust accounts that have been open for a significant number of years. In the course of business, there are times when a check does not clear and the funds remain in the account. If too much time passes, sometimes the attorneys no longer have the necessary documentation to determine who is entitled to the funds. Then, when attempting to clean-up the escrow account, they contact us asking for guidance on what to do with remaining funds. Read more...

Christine Sparks
ATG Vice President and Managing Attorney, Audit Department

ATG MEMBERS | Underwriters' Bulletin

ALTA Best Practices

REMINDER: Wire Fraud Warning - Another Email Scam — ATG agent's fast action narrowly averts disaster.

Encrypted Email: Why You Need it and How to Set it Up

Wells Fargo Speaks to New Closing Disclosure — Acquaint yourself with a major lender’s perspective and requirements on implementation of the CFPB Rule and ALTA Best Practices.

Title Tips

ATG Website a Valuable Tool to Answer Member Questions — How to use it as your 24/7 underwriter.

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Click and Join the Conversation! member login required

ATTORNEYS | Practice Notes

Real Estate and Title Insurance News

Reporting Requirements under the Uniform Disposition of Unclaimed Property Act — What you need to know about handling uncashed checks from a closing.

Casenotes

Illinois

Installment Contracts: City of Decatur v Ballinger (IL) - The term “owner” applies to sellers in installment land sale contracts and they can thus be held liable for demolition costs.

Indiana

Disclosure: Johnson v Wysocki (IN) - Under Indiana Disclosure Statutes (Ind. Code § 32-21-5), sellers are liable for fraudulent misrepresentations made on disclosure forms when they have actual knowledge that the representations are false at the time they complete the forms.

Wisconsin

Mortgage Foreclosure: Tri City Nat Bank v Easley (WI) - If a circuit court exercises reasonable discretion during the confirmation hearing of a foreclosure action, the appellate court will generally side with the lower court’s determinations.

IN THE NEWS | ATG Anniversary Street Banners, Memories, and Photos

Memories of A Night at the Museum — ATG's 50th Anniversary Celebration at the Museum of Science and Industry was an exceptional milestone event. Read all about it and order images.

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ATG Anniversary Banners Adorn Chicago Loop — We hope you saw ATG’s 50th Anniversary street banners on our website or in Chicago’s Loop. The "Lawyers at Their Best…" banners were on display on Monroe from Clinton to the River, and on Madison from Clinton to Franklin — including just outside ATG's offices at One South Wacker.

WHAT'S NEW | Trust, CLE, Process, and Auction Services

Got Trust and Estate Questions? — Get answers fast on our FAQ page. At ATG Trust Company, our mission is to bring a full range of trust, estate, and investment services to attorneys and their clients. Need to know more? Contact us — we're here to help.

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September-October Program Calendar

09.05.2014 ALTA Best Practices Agent Workshop (2.25 MCLE in IL; 2.25 CLE applied for in IN and WI)

09.17.2014 Multi-Board Residential Real Estate Contract 6.0: An Analysis of the Key Changes (1.50 MCLE in IL)

10.01.2014 How to Prepare Commitments and Policies (1.50 MCLE in IL)

10.08.2014 What Every Title Agent Needs to Know about Claims Prevention (1.50 MCLE in IL; 1.50 CLE applied for in IN and WI)

PLUS A selection of OnDemand programs to choose from. See full Program Catalog - member login required for full access.

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FAST AND FLEXIBLE: The Process Server Responsive to Your Needs — Get the finest process serving available to lawyers today. Learn what the LegalServe Difference can make in your practice and place your order today! Find us with Google Plus.

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Auctions by ATG – Your Commercial and Residential Property Auction Resource — Auctions by ATG provides professional and effective live and online real estate auction services. Sellers and buyers of all types of commercial and residential property benefit from our totally transparent auction process, superior online bidding service, and attractive pricing model. Our extensive targeted marketing often leads to pre-auction sales that close in 30 days or less.

Join Our Email List to receive Auction Property of the Week notices and updates on our auctions.

Visit our new website at www.auctionsbyatg.com for more details. If you have questions, contact Operations Manager Mary Fran Gill, 312.752.1160. Follow us on Facebook and Twitter.

[Last update: 8-27-14]