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April/May 2011 | Volume 4 • Number 3
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Update from ATG Administration
ATG Elects New Board Chairman
Robert F. Russell Elected Chairman of Attorneys&€™ Title Guaranty Fund, Inc.
Mr. Russell is a partner in the Princeton law firm Russell, English, Scoma & Beneke. He is the third generation of Russells to practice law in Princeton, following his father, Fred G. Russell, and his grandfather, Judge R. L. Russell, who first opened his office in Princeton in 1897.

"Being chosen to lead this complex and innovative company during a time of extreme uncertainty in the national real estate market is a true honor."

Mr. Russell has been a member of ATG&€™s board of directors since 1995. He also serves as chairman of the board of The Judicial Sales Corporation, a subsidiary of ATG. Russell is a frequent lecturer and author throughout Illinois on real estate and township law... read more

 

 

ATTORNEYS | Practice Notes
 
REAL ESTATE AND TITLE INSURANCE NEWS
 
Foreclosure: Personal Representatives for Deceased Mortgagors in Foreclosure Actions — A trial court must obtain jurisdiction over the mortgagor as a necessary party under the Illinois Mortgage Foreclosure Law or it lacks subject matter jurisdiction and any foreclosure action against the decedent may be declared void... read more
 
TRUST AND ESTATE PLANNING NEWS
 
Don't Chase Yield — You Might Catch It — When acting as trustee, we are often caught in the balance between the current income beneficiary's desire for cash flow from a trust and the need to consider the interests, vested or not, of future or contingent beneficiaries... read more
 
April 2011 Outlooks — The economy continues to experience some ups and downs, though there seem to be more positives than negatives... read more
 
Second Quarter Perspectives — We are often asked who we think will step up to the plate and buy all of the debt issued by the U.S. Treasury purchase program affectionately known as "quantitative easing 2" or "QE2"... read more
 
CASENOTES
 
Federal
Bankruptcy
Bulgarea v Natl City Mortgage Company — A mortgage recorded in the wrong county is susceptible to avoidance by a bankruptcy trustee... read more
 
Illinois
Ethics; Joint Tenancy
Snyder v Heidelberger — When an attorney drafts and records a quitclaim deed with the intent to create a joint tenancy, but fails to realize that the grantor does not own the property, the tenant with a right of survivorship has a cause of action for malpractice... read more
 
Indiana
Mechanic's Liens
Capital Drywall Supply v Jai Jagdish Inc — Subcontractors that listed the wrong owner on notice of a mechanic&€™s lien failed to substantially comply with the statute, and prejudiced third parties, even where the owner received actual notice... read more
 
Wisconsin
Contracts
Kuwabara v Burd — When a secondary agreement in an offer to sell is meant to "survive closing," then closing documents to the contrary do not void the secondary agreement... read more
 

 

 

ATG MEMBERS | Underwriters' Bulletin
 
PROCEDURAL UPDATES
 
REMINDER: EZ Dec System Registration and Training Required before June 1! - Beginning June 1, 2011, the EZ Dec system will be required for ATG to process revenue stamp payments and record documents... read more
 
 
Foreclosure
Illinois Mortgage Foreclosures by Fisher and Shapiro, LLC — The law firm of Fisher and Shapiro, LLC filed altered affidavits with the court in about 1,700 pending foreclosures in Cook County, leading the circuit court to halt Fisher and Shapiro foreclosures... read more
 
 
Foreclosure
Underwriting Guidelines: Personal Representatives for Deceased Mortgagors in Foreclosure Actions — The Illinois Supreme Court recently held that a mortgagee must name a personal representative for a deceased mortgagor for a trial court to obtain subject matter jurisdiction and enter a valid judgment in a foreclosure action... read more
 
 
Illinois Anti-Predatory Lending Database: Predatory Lending and HELOCs — Home Equity Lines of Credit (HELOCs) that are simultaneous to a first mortgage now are a new category in the dropdown menu on the state&€™s predatory lending database website... read more

 

 

IN THE NEWS | ATG President in Crain's Article; New ATG LegalServe Website
 
Peter J. Birnbaum photo
ATG President Putts with Industry Powerhouses

ATG President and CEO Peter Birnbaum appeared in the Crain's April 4, 2011, article, Wanted: the perfect foursome for golf. To read the article, go to www.chicagobusiness.com and search the title.


ATG Subsidiary Launches New Website

 

 
ATG LegalServe, Inc. is pleased to announce the launch of its new website, www.atglegalserve! See what sets it apart from the competition, including many useful features:
 
  • Request a service quote
  • Place an order
  • Check the status of an order
  • Pay via PayPal®
  • View service rates
  • Read testimonials from clients
Visit and Bookmark Our New Site Today!

 

 

WHAT'S NEW | Member, CLE, Process, and Trust Services
 
ATG logo Re-Activate your ATG Membership - Has it been a while since you issued a policy? Are you ready to get started again? It's easy, and we can help. Make a small investment of time, start writing policies again, and add to your bottom line. Contact Member Services Representative Bob Dillow today!

 
PROGRAM OF THE MONTH
Residential Real Estate Transaction Review
an ATG/IRELA program


Join in on a panel discussion by Stuart Wolf and Tom Anselmo along with ATG underwriting and closing staff of the best practices for handling real estate transactions and closings from your clients' perspectives.
 
Wednesday, May 11, 2011
2.75 MCLE (CLE applied for in WI and IN)
Elk Grove Village, Illinois

Package Users | Attorneys | All Others


One Payment Buys ATG Legal Ed Seminars for One Year - With a Lawyer Discount Package, you pay once and get direct access to our library of more than 30 OnDemand programs PLUS our full 2011 calendar of live programs when they're available... read more

See ATG Legal Education at www.atgf.com for our full program list.


ATG LegaLServe logo NEW WEBSITE, NEW FEATURE: Client Portal - From this page of www.atglegalserve.com, you can login and view the status of your files, see when your paper was served, view the details of service attempts, and even make secure online payments for services. Learn more and place your order now!
 

  Exchange Tax Dollars for Investment Dollars: Offer Starker Exchange Services to Your Clients - ATG Trust Company can show you how to help your clients defer paying taxes on the gains earned from investment property and increase their wealth using tax-deferred dollars... read more

NOT A MEMBER YET? Learn about the benefits to you and your clients.


 

 

 

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[Last update: 5-4-11]