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Agency Escrow Disbursement Accounts

Illinois Good Funds

The Good Funds law is in place to make sure that the parties to a real estate transaction can rely on the funds that are being used in connection with the transaction. The law outlines what...

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Illinois Good Funds Law Amended, Again

The Illinois Good Funds statute in the Title Insurance Act, 215 ILCS 155/26, has been amended again. Public Act 98-1067, which originated as HB 4677 and was effective August 26, 2014, authorizes a...

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In re Pisula

In re Pisula, 09 CH 13 (ARDC Hearing Board, May 16, 2011), M R 24722 (Ill S Ct, Sept. 26, 2011). Search the...

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New Closing Account Guidelines for Indiana

Attention Indiana ATG members: ATG has finalized guidelines for closing accounts. Found in the Title Forms...

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Proceeds: Check-Writing Procedures for Closings

General Rule: For all ATG transactions, the proceeds check should be made payable to the seller as shown on the title commitment.

 

Multiple Sellers:...

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Real Estate Closings: Wired Funds and “Good Funds”

by Steven Walker, ATG Law Clerk

Abby Financial Corp., a Massachusetts based mortgage banking firm, declared bankruptcy by filing a petition under...

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Reporting Requirements under the Uniform Disposition of Unclaimed Property Act

By Steven Walker, ATG Law Clerk

Most attorneys are familiar with the problem of the ouststanding uncashed check from a real estate closing or other representation. Many times a...

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Resolving Unclaimed Property in Illinois

What You Should Know about State Treasurer and ARDC Procedures

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The 2010 Illinois Good Funds Provisions

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The Impact of Amendments to IRPC 1.15: A Lawyer's Obligation to Manage and Protect Client Funds

EFFECTIVE SEPTEMBER 1, 2011

On July 1, 2011, the Supreme Court of Illinois announced...

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