This section contains all the casenotes published in our monthly newsletter, Casenotes & Underwriters' Bulletin, plus additional case law the ATG Underwriting Department identifies as noteworthy for ATG member agents.
Summary: Illinois land trusts are a vehicle for property ownership where the beneficiary retains control, and are not “third party” entities for purposes of the “fraudulent transfer to third parties” exceptions to bankruptcy discharge.
FirstMerit Bank, N.A. v. Soltys, 2015 IL App (1st)...
Summary: Specific language in an agreement can be determinative of the parties’ intent for a covenant to run with the land, when the agreement lacks explicit language.
Williams v. Indiana Rail Rd. Co., 33 N.E.3d 1043 (Ind. App. 2015), reh'g denied.
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Summary: Once a circuit court determines a property is abandoned, it has the authority to order a mortgagee to sell the property after the redemption period. The court must order the property be sold in a reasonable time.
Bank of New York Mellon v. Carson, 859 N.W.2d 422 (Wis....
Summary: In order to set aside a default judgment, the movant must provide evidence of a meritorious defense and that the relief sought is necessary and just.
Kretschmer v. Bank of America, N.A., 15 NE 3d 595 (Ind. App. 2014).
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Summary: A deed into trust does not need to be recorded to vest title in the trust. A statement in an unrecorded trust agreement that the settlor/trustee was holding property as part of the trust was sufficient to bring the property into the trust.
Estate of Mendelson v. Mendelson, 2015...
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