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December 2010 | Volume 3 • Number 11
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Update from ATG Administration
Year in Review and 2011 Forecast
Great Results and Prospects Despite Challenges
On December 16, 2010, ATG® hosted a holiday party at Union Station in Chicago. It was our first holiday party in several years. It was attended by more than 500 ATG members, as well as leaders in the political, legal, business, and civic communities. The convivial, fraternal feeling that has been so critical to ATG's success was in evidence that night.
ATG will celebrate its 47th year in 2011. I am proud to say that in 2011 I will celebrate my 30th anniversary with ATG and my 20th year as President. What a success story we have been!... read more Peter J. Birnbaum |
ATTORNEYS | Practice Notes
TRUST AND ESTATE PLANNING NEWS
December 2010 Outlooks — The economy expanded in the third quarter of 2010 at a faster pace than first reported... read more
LEGISLATIVE UPDATES
Illinois
Condominiums; Foreclosure
PA 96-1045 — Purchasers of condominium units in foreclosure must pay any assessments for the community&€™s common expenses that would have accrued in the six months prior to an action to enforce the assessments... read more
CASENOTES
Indiana
Foreclosure; Mortgages
Citizens States Bank of New Castle v Countrywide Home Loans, Inc — If a mortgagee forecloses on a property that subsequently remains subject to a junior lien from an entity not party to the original foreclosure, the mortgagee retains a mortgage in a superior position. However, the right to foreclose this mortgage does not pass to a third party transferee... read more
Wisconsin
Adverse Possession; Easements
Foster v Fabish — Because an easement implies consent, it is impossible to attempt to adversely possess it... read more
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ATG MEMBERS | Underwriters' Bulletin
CLAIMS CORNER
Bankruptcy; Foreclosure: Record Mortgages within One Week of Closing — The bankruptcy code prevents creditors from receiving a windfall because a lien was secured just before the debtor filed bankruptcy... read more
PROCEDURAL UPDATE
URGENT REMINDER:
New Closing Protection Letters and Procedures Coming in January 2011 for Illinois — As previously reported, starting January 1, 2011, Public Act 96-1454 requires that the title insurance underwriter, not the agent, issue all closing protection letters... read more
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IN THE NEWS | ATG Demotech Rating Remains High, ATG President on ALTA Board of Governors
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WHAT'S NEW | Member, CLE, Process, and Trust Services
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[Last update: 12-29-10]
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