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October 2010 | Volume 3 • Number 9
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Update from ATG Administration
 
Check and Wire Transfer Fraud – A Growth Industry
 
Title Agents and Lawyers: Be Wary and Protect Yourselves
 
Check and wire fraud is a very serious and growing problem. Fraudsters target small- and medium-sized organizations using various forms of "malware" (malicious software) designed to leverage your internal control weaknesses and the weaknesses in the wire transfer and Automated Clearing House (ACH) processes — the mechanisms that let banks and other financial institutions process checks and other forms of payment.

If you aren't careful, they can put you out of business. A title underwriter lost $400,000 earlier this year, and more recently a title agent lost $290,000. You must take steps to protect your clients' funds... read more

Ronald Trubiana
Senior Vice President and Chief Financial Officer

 

 

ATG MEMBERS | Underwriters' Bulletin, Member Events
 
CLAIMS CORNER
 
Liens
Sanitary Sewer District Liens — While a sanitary district may attach liens on property for unpaid charges, these liens do not have super priority status... read more
 
PROCEDURAL UPDATE
 
ATG Requires Co-Exam Approval to Issue — ATG Regulations require a co-exam (having an ATG underwriter review a commitment, policy, and/or Date Down Endorsement for approval to issue) in the following situations... read more
 
MEMBER EVENTS
 
November 18
Annual Shareholders' Meeting/CEO Update

following the Harold I. Levine Institute
The Emerging Role of the Real Estate Lawyer after the Mortgage Meltdown

Don't Forget to Return Your Proxy Card!

AND
 

Holiday Reception image
ATG Holiday Reception
Thursday, December 16, 2010
The Great Hall at Union Station
Chicago, Illinois | 6:30 - 10:30 p.m.
 
S A V E    T H E    D A T E!
 
Watch the mail for your invitation
NEW - Register and Pay Online!

 

 

ATTORNEYS | Practice Notes
 
REAL ESTATE AND TITLE INSURANCE NEWS
 
Title Insurance
The 2010 Good Funds Provisions — Amended Effective January 1, 2011 — Public Act 96-645 took effect in Illinois on January 1, 2010. It amended the Title Insurance Act by placing restrictions on the types of funds that may be disbursed for escrows, settlements, and closings from a closing agent's fiduciary trust account. This article summarizes the good funds provisions of the Title Insurance Act, added in 2010 and amended effective January 1, 2011... read more
 
TRUST AND ESTATE PLANNING NEWS
 
Legislation
Patient Protection and Affordable Care Act Highlights — The Patient Protection and Affordable Care Act (PPACA) was signed into law on March 23, 2010. A companion package of "fixes" to PPACA, the Health Care and Education Reconciliation Act (HCERA), was signed on March 30, 2010. Taken together, these two bills make the most profound changes to our country's private-market health care system in 50 years... read more
 
CASENOTES
 
Illinois
Mechanic's Liens
Roberts v Adkins — Even if an original oral contract is for less than $1,000, the Home Repair and Remodeling Act requires a written contract whenever the agreement exceeds $1,000... read more
 
Indiana
Fraud
Shi v Yi — A creditor only has a cause of action against a debtor for fraudulent transfer under the Indiana Uniform Fraudulent Transfer Act, not a title insurer which neither granted nor received title to the property... read more
 
Wisconsin
Contracts; Vendors and Purchasers
Griswold v Rogich — A buyer has to be aware of the true nature of a defect to be precluded from reasonably relying on a seller's assertions in a disclosure form... read more

 

 

IN THE NEWS | ATG Gifts U of I Real Estate Law Society
 
ATG Makes $1500 Donation to RELS
 

Senior Vice President Jerry Gorman (center) presents a $1,500 donation to Christina Brunka, President of the University of Illinois College of Law Real Estate Law Society (RELS). At right is Ward McDonald, ATG Board Member, professor at the College of Law, and faculty sponsor of RELS. With assistance from organizations and members of the bar, RELS educates law students on careers as real estate practitioners, helping students network with firms, corporations, and government offices that engage in real estate law.

RELS is a separate group from the College of Law&€™s real estate society, Rho Epsilon. RELS, by adding lawyers to the mix, adds to Rho Epsilon's tradition of uniting the diverse disciplines that make up the real estate industry. The two groups have their own law-focused events, but plan to co-sponsor events as opportunities arise. ATG law clerk Charlie Yordy serves as RELS Treasurer.

 

 

WHAT'S NEW | Member, CLE, Process, and Trust Services
 
ATG logo Plan for New Business - With a small investment of time, we'll help you examine your existing business relationships, leverage those contacts into new firm business with a marketing action plan, and teach you networking strategies. We'll set realistic goals and show you how to evaluate returns against efforts. Contact Member Services Representative Bob Dillow today!
  Earn All Your CLE in One Place with One Payment - Two live programs remain in 2010, PLUS more than 40 OnDemand programs to chose from. See ATG Legal Education at www.atgf.com for more information.

Plan to attend three or more programs? Save with a Lawyer Discount Package — Extended, get six extra months FREE!
ATG LegaLServe logo Process Service and Skiptracing - Get the finest process service available to lawyers today. Fast, accurate, with nationwide reach and competitive rates. ATG LegaLServe, ATG's newest subsidiary, is fully licensed and insured, and serves papers daily... learn more
  New Client Brochure - ATG Trust Company has created a new brochure promoting its client services, including implementing estate plans, asset protection, and trust administration... read more

ATG TRUST MEMBERS: The brochure makes an excellent promotional to introduce ATG Trust Company to your clients. To order copies for your marketing efforts or if you have any questions, please contact us at info@atgtrust.com or 312.338.7878.

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


 

 

 

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