On March 2, 2025, the Treasury Department announced the suspension of the enforcement of the Corporate Transparency Act (CTA) against U.S. citizens and domestic reporting companies. The Treasury Department will be issuing proposed rules that will narrow the scope of… Continue Reading →
On February 17, 2025, the United States District Court for the Eastern District of Texas granted the government’s motion to stay the nationwide injunction that previously halted enforcement of the Corporate Transparency Act (this was the second case with a… Continue Reading →
On August 9, 2024, Governor Pritzker signed SB 2740 into law. The Bill creates a new Section 18.12 of the Illinois Condominium Property Act (the “Act”) that went into effect on January 1, 2025. This update to the Act addresses… Continue Reading →
The Corporate Transparency Act (“CTA”) is here to stay, and for now, condominiums, townhomes, homeowners and community associations must file the required Beneficial Ownership Information Report (BOIR) by December 31, 2024. Failure to comply will result in penalties imposed by… Continue Reading →
By Adriana Bosco and Katerina Tsoukalas-Heitkemper Landlords are responsible for providing a safe, clean and healthy living environment for tenants. Thus, there are certain disclosure obligations landlords must abide by to their current and potential new tenants regarding environmental toxins… Continue Reading →
The COVID-19 pandemic has caused turmoil across the country. It is now more important than ever for community associations and property owners to stay informed and understand their options. Yesterday, the Community Associations Institute (“CAI”) sent out an email asking for… Continue Reading →
Effective through at least April 15th or until further notice, Tressler LLP is urging all of its Condominium or Common-Interest Community Association boards to strongly consider rescheduling any non-essential board meetings or events of 25 people or more. Meetings or events… Continue Reading →
Establishing a Collection Policy for Condominium and Common-Interest Community Associations Many condominium and common-interest community associations are faced with a cash-crunch crisis when members fall behind in the payment of their proportionate share of assessments and common expenses. Associations are… Continue Reading →
The housing market has fluctuated and changed drastically over the past few years. This is why it is important for an association board to be proactive when a unit owner is facing mortgage foreclosure proceedings. Being proactive includes initiating a… Continue Reading →
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