September 2009 | Volume 2 • Number 7
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Update from ATG Administration
Good Funds Legislation
An amendment to the Title Insurance Act, 215 ILCS 155/26, was approved and will take effect on January 1, 2010. This legislation will impact disbursements made by title insurance companies and title insurance agents in connection with escrows, settlements, and closings in Illinois. The legislation prohibits disbursement from a fiduciary trust account unless the funds received from a single party are either "good funds" or "collected funds," as defined in the amendment... read more
For a detailed discussion of this topic and other changes to the closing process that go into effect January 1, 2010, attend the 2009 Harold I. Levine Real Estate Institute on November 5 (see ATTORNEYS | Practice Notes below).
David Huffman
Senior Vice President - Title Operations
Brandt Receives ILTA President's Award
Brandt photoThe Illinois Land Title Association's President's Award is a special recognition given to individuals who took on additional work during the year to help the association achieve its goals. ATG Vice President Michael K. Brandt was the 2009 recipient.
&€œMike co-chaired our legislative committee, which bears the enormous burden of reviewing all bills from both the Illinois Senate and the House that could impact the title business in Illinois,&€& explained Kirk Sterling, ILTA President. &€œThrough Mike's efforts along with the rest of the Legislative Committee we were successful in introducing a &€˜Good Funds&€™ bill that will benefit all title companies doing business in Illinois.&€&... read more



ATTORNEYS | Practice Notes
HUD Answers FAQs on New RESPA Rules - The new RESPA Rules issued by the Department of Housing and Urban Development (HUD) in late 2008 contained significant ambiguities and raised serious practical questions for settlement service providers. In response, HUD has provided guidance on some of those questions in the form of a Frequently Asked Questions (FAQ) sheet... read more
Vancura v Katris | The training of notaries to follow only the base requirement of the statutes does not protect an employer against negligent training claims when industry practice requires a greater standard of care... read more
Tax Deeds
Kumar v Bay Bridge | An owner was a bona fide purchaser for value without notice of a tax deed where tax deed notices were returned undeliverable to the predecessor in title and the tax deed was never recorded... read more
Broker Fees
Burkett & Associates, Inc v Teymer | Broker's contract included ultimate buyer as a "protected buyer" and therefore sellers owed broker's commission upon sale... read more
The 2009 Harold I. Levine Real Estate Institute
In honor of our mentor and friend Harold I. Levine (1931 - 2003), a respected and much-loved attorney who brought enthusiasm and insight into the practice of real estate law &€” to continue his work of sharing wisdom and knowledge.
Survive and Thrive: Preparing Your Practice for Changing Times
November 5, 2009 | The UBS Tower, Chicago
New rules and legislation for 2010 will have a serious impact on real estate and estate planning practitioners. Don't miss this opportunity to learn what you&€™ll need to know to thrive in the coming years from informed ATG staff and guest speakers, including an ARDC lawyer charged with enforcing the IRPC... read more



ATG MEMBERS | Underwriters' Bulletin
This section provides updated procedural and underwriting information. If you keep hard copies of our Member Handbooks in your office, print this information for insertion.
E-mail your questions to Christine Sparks.
Exception Language: Special Exceptions on Commitments and Policies Should be Specific | Policies that contain only general exceptions for specific restrictions on title can result in significant claim loss. Exceptions from coverage on a commitment or policy must be specific enough to give notice of the nature of a restriction on title... read more
Change to Login Passwords
Effective September 1, 2009, all dashes were removed from the passwords of your ATG website and Paperless Closer logins for security purposes. If your current password contains a dash, type in your password without the dash, no spaces, to login. Click here if you need your website user name and password. Questions? Contact our HelpDesk.
Attention ATG Shareholders
November 10, 2009, ATG Champaign Office... read more



IN THE NEWS | "Keep Your Home" Event for Homeowners

ATG attorney volunteers helped hundreds homeowners at the August 29 "Keep Your Home" event in Cicero, Illinois, sponsored by ATG, Neighborhood Housing Services, and other partners.

Our sincere thanks to the ATG volunteer attorneys who gave up their Saturday, showed up early, and worked long hours at this event... read more

Photo Caption: Joseph Nery (standing), ATG member volunteer attorney (Chicago) provides counsel as well as translation assistance as a counselor works with homeowners.



WHAT'S NEW | Member Services, CLE, Trust Services
ATG logoRe-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!
Live Fall CLE Programs
See details of these and other programs.
10/3: Navigating a Real Estate Transaction: A Seminar for Law Students and New Lawyers | Chicago, Ill. (free for law students and new attorneys)
10/14: Hot Topics in Medicaid Planning | OnLine
10/21: Underwriters' Forum: Top 20 Things You Don't Know | OnLine
10/24: Navigating a Real Estate Transaction: A Seminar for Law Students and New Lawyers | Madison, Wis. (free for law students and new attorneys)
11/5: The 2009 Harold I. Levine Real Estate Institute - Survive and Thrive: Preparing Your Practice for Changing Times | Chicago, Ill.
11/18: New Illinois Rules of Professional Conduct | OnLine
NOTE: You must be a Registered User on to buy seminars online... read more
ATG Trust logoIRA Investment Options - Real estate is a tangible asset that usually appreciates in value and can provide a reliable income stream. We can show you how to use a self-directed IRA to invest in real estate for tax-deferred or tax-free growth... read more



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[Last update: 9-28-09]