Construction and Mechanics' Liens

ATTN: ATG Members

ATG Regulation No. 5: Special Title Procedures for Construction Loan Escrows, Revised June 23, 2010 Provides:

An ATG member shall not...

Whenever you find out that one of the following fact situations applies to a transaction where you are preparing a commitment for a loan policy, then raise the New Construction Exception.

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NOTE: For in-depth information on this topic, attend our online seminar October 18, 2012, and earn 1.5 hours of CLE:...

Summary: Incorrect completion dates in mechanics' lien claim did not materially affect defendant's right to notice under the mechanics' lien statute and the liens were facially...

Public Act 97-1165 (HB 3636); Effective Date: February 11, 2013

Statutes Amended: 760 ILCS 60/16, 760 ILCS 60/34.

On February 11, 2013, the Governor signed into law amendments to the...

Substitution of a Bond for a Mechanics Lien

 

Effective Date: January 1, 2016...

The IRS has made several changes regarding 1099 filing for transactions that closed in 2023 and are reportable in 2024. For Advocus member agents who are responsible for reporting these...

 

SURVEY COVERAGE ON CONSTRUCTION PROPERTY

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Summary: Claimant’s name on mechanic’s pre-lien notice and the lien notice need not match identically; idem sonans is permitted. Notice will be sufficient if it...

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