Real Estate Litigation in Illinois: Short Sales, Abandoned Property, and More

The real estate market goes through cycles of increased valuation and depression based on changes in the economy, changes in population, and increased costs associated with owning property (such as real estate taxes, tax write-offs for interest, etc...). 2016 through 2018 were years of growth and increase in property values. With higher taxes pushing property values down, lower inventory pushing values up and potential first-time home buyers being too debt-ridden to make purchases until considerably later in their lives, will we see a cycle of a downturn in the Real Estate Market soon?And if so, what will it take to get properties through short sales? What litigation may it engender? This course, presented by Erica Crohn Minchella, will explore the short sale process and litigation unique to Illinois real estate.

Learning Objectives:

1. Explore the short sale process and be able to discern when a property needs to go through a short sale
2. Identify potential litigation issues for real estate transactions
3. Discuss how to address issues needed to clear title or assist clients struggling with their property
4. Obtain constructive ideas for dealing with properties where lenders have abandoned the property to the homeowner in order to avoid municipal fines and liabilities