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March 2016 | Volume 9 - Number 3

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Keeping Lawyers at the Closing Table

Why it's Vital for Consumer Protection

Guest Author:

Frank Pellegrini - President of Prairie Title, Agent of ATG

Dear Colleagues:

In each of my two face-to-face meetings with Consumer Financial Protection Bureau (CFPB) Director, Richard Cordray, in his Washington, D.C., office, I emphatically stated my belief that the best consumer protection mechanism in a residential real estate transaction is provided by the involvement of attorneys for the parties. My instincts tell me that, in his heart, he agrees.

However, Director Cordray is aware that consumers in many parts of the United States are not encouraged to seek the counsel of an attorney. By custom and practice in most regions of the country, the real estate transaction is “driven” by the Realtor® or other real estate professional. The result is a void in consumer protection, which agencies like the Consumer Financial Protection Bureau are created to fill. Read more...

Frank Pellegrini, Esq,
President, Prairie Title

ATTORNEYS | Practice Notes

Legislative Update

Federal

Closings: P.L. 114-113 — Changes to the Foreign Investment in Real Property Tax Act (FIRPTA).

Casenotes

Illinois

Construction and Mechanics' Liens: Pyramid Development, LLC v Dukane Precast, Inc — Failure of general contractor to provide correct sworn affidavits upon request of the property owner precluded the general contractor's recovery on its mechanics lien claim.

Indiana

Adverse Possession: Corn v. Corn — Claimant failed to establish adverse possession of the lane because the lane was not under his exclusive control.

Wisconsin

Decedents' Estates: In re Estate of Stevens — The circuit court properly exercised its discretion under Wis. Stat. § 860.13 by approving a sale of real property owned by an estate to one of the estate's personal representatives and her son.

IN THE NEWS | ATG's President Reconfirmed Chief Justice

Read more...

WHAT'S NEW | Trust, CLE, and Process Services

Trust Client Brochure — ATG Trust Company provides a brochure promoting its client services, including implementing estate plans, asset protection, and trust administration.

ATG TRUST MEMBERS: Use this excellent marketing tool to introduce ATG Trust Company to your clients. Contact us at info@atgtrust.com or 312.338.7878 with your copy order or your questions.

Get Started in the New ATG Legal Education — We launched our new CLE platform in 2015. It has many great features that make managing your CLE much easier, including the ability to take recorded OnDemand programs with most mobile devices. Keeps track of your hours and print your certificates once you complete the confirmation surveys (see details or our five-minute video tutorial).

If you haven't set up your account yet, see Stage One: Creating Your Account.

Featured April Programs (login required)

Navigating an Illinois Real Estate Transaction: The Stuart H. Wolf Program for Law Students and New Lawyers
April 9, Chicago | IL (5.00 MCLE) | Details/Register Now

Navigating a Wisconsin Real Estate Transaction: A Seminar for Law Students and New Lawyers
April 9, Milwaukee | WI (6.00 CLE) | Details/Register Now

Bringing You Experienced Leadership, Additional Services, Dedicated Staff — We are proud to announce that ATG LegalServe and It's Your Serve, Inc. have combined to create a single, full-service litigation support company offering services to lawyers and law firms throughout Chicago and beyond. Read more...

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[Last update: 3-22-16]