Foreclosure Purchaser not liable for unpaid HOA fees where Association did not expressly state…

A recent ruling by the Circuit Court of Cook County supports the argument that where a condominium’s recorded declarations do not expressly state that the property will be governed by the Illinois Condominium Act, unpaid assessment liens will not be extinguished in a mortgage foreclosure proceeding. The purchaser of the…

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Appellate Court holds that Rent Control Preemption Act completely preempts Keep Chicago Renting Ordinance

On April 30, 2021, the First District Appellate Court struck down Chicago’s Protecting Tenants in Foreclosed Rental Properties Ordinance, better known as the Keep Chicago Renting Ordinance (“KCRO”) finding it is completely preempted by Illinois’ Rent Control Preemption Act (“RCPA”). The decision is Rivera v. Bank of New York, et…

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Ohio and Tennessee district courts hold that the CDC exceeded its authority to make…

In Skyworks, Ltd. v. Centers for Disease Control & Prevention, No. 5:20-CV-2407 (N.D. Ohio Mar. 10, 2021) and Tiger Lily LLC v. United States Dep’t of Housing & Urban Development, No. 2:20-CV-2692-MSN-ATC (W.D. Tenn. Mar. 15, 2021) district courts in Ohio and Tennessee struck down the Centers for Disease Control…

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GEORGIA DISTRICT COURT UPHOLDS CDC EVICTION MORATORIUM

In Brown v. Azar, No. 1:20-CV-03702-JPB (N.D. Ga. Oct. 29, 2020), several landlords brought suit against the Secretary of the U.S. Department of Public Health and Human Services (“HHS”) challenging the Center for Disease Control and Prevention’s (“CDC”) September 4, 2020 moratorium on residential evictions (“Order”). They sought a preliminary…

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Violation of Chicago’s municipal tenant ordinance is a covered claim under insurance policy

The insured in Evergreen Real Estate Servs., LLC v. Hanover Ins. Co., 2019 IL App (1st) 181867 (Jan. 4, 2020) sought a declaration that its insurer had a duty to defend it in a class action brought by the insured’s tenants alleging that the insured committed several violations of the…

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Illinois Appellate Court affirms sales from Fannie Mae and Freddie Mac not exempt from…

In Trilisky v. City of Chicago, 2019 IL App (1st) 182189 (Sept. 26, 2019), a purchaser who bought real estate from Fannie Mae, and was assessed a transfer tax on the transaction, sued the City of Chicago on behalf of a class claiming that sales to and from Fannie Mae…

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IRS Proposes Guidance on Investments In Opportunity Zones

On April 17, 2019, the IRS issued proposed regulations providing additional guidance about investments in qualified opportunity zones. Comments to the proposed regulation are due within 60 days after the date the proposed rules are published in the federal register. These regulations relate to the Tax Cuts and Jobs Act…

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Suit for penalty interest under Michigan statute did not arise under insurance policy so…

The Sixth District held in Palmer Park Square, LLC v. Scottsdale Ins. Co., 878 F.3d 530 (6th Cir. Dec. 22, 2017) that an insured’s suit for statutory penalty interest for the insurer’s late payment of the insurance claim did not arise under the policy and was therefore not subject to…

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Persons purchasing property from Fannie Mae are not exempt from City transfer taxes, according…

The Seventh Circuit held that private persons who purchase property from Federal Fannie Mae are not exempt from the City of Chicago’s Real Property Transfer Tax. In Federal National Mortgage Association v. City of Chicago, 16-4140 (7th Cir. October, 30, 2017) a group of buyers purchased real property in Chicago…

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Fannie and Freddie Are Reentering the LIHTC Market

On November 16, 2017 the Federal Housing Finance Agency (“FHFA”) announced that Fannie Mae and Freddie Mac (GSEs) will be allowed a limited re-entry into the Low Income Housing Tax Credit (LIHTC) market as equity investors, effective immediately. According to the announcement, each GSE will be subject to an annual…

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