There are some best practices that associations should follow when dealing with a bankruptcy. First, and most importantly, make sure that no collection activity continues against an individual who has filed bankruptcy. As soon as an association receives any notice,… Continue Reading →
Previously, we noted that City of Chicago-based condominium and homeowners associations must now adopt a bedbug management plan to comply with the City’s new bedbug ordinance, effective at the beginning of this year. Associations must adopt a plan prior to… Continue Reading →
Condominium Associations should maintain five types of insurance per the Illinois Condominium Property Act: Property Insurance General Liability Insurance Fidelity Bond or Employee Dishonesty Coverage Directors and Officers Liability Coverage Any separate coverage required by the Association’s declaration
There are two types of bankruptcies that are a bit different from the standard consumer Chapter 7 and Chapter 13 bankruptcies. These are Chapter 11 bankruptcy for corporations and so-called “Chapter 20” bankruptcy, which is a Chapter 13 bankruptcy that is… Continue Reading →
On May 14, 2013, the Illinois Appellate Court, Third District, issued its decision in the case of Ripsch v. Goose Lake Association, 2013 IL App (3d) 120319. The question raised before the appellate court was “Does a homeowners association have… Continue Reading →
Similar to units of local government, condominiums and common interest community associations have their version of an Open Meetings Act. Section 18(a)(9) of the Illinois Condominium Act provides “that meetings of the board of managers shall be open to any… Continue Reading →
Although the financial crisis is believed to be improving, one thing remains the same — some condo owners may face tough financial times during the course of their ownership. A common way to manage these financial troubles is to file… Continue Reading →
A foreclosure complaint begins when the bank files a complaint to foreclose a mortgage, which generally occurs around six months after the owner stops paying. The complaint has to be served on everyone that has a claim on the property,… Continue Reading →
There has recently been some confusion in association circles about use of proxies, mail-in ballots and secret ballots in board elections. While both the Illinois Condominium Property Act (Condo Act) and the Common Interest Community Association Act (CICAA) have provisions… Continue Reading →
Chapter 13 bankruptcies are quite different from Chapter 7 bankruptcies. While Chapter 7 affords a fresh start to the debtor, a Chapter 13 bankruptcy allows for the debtor to reorganize their debts and pay down their obligations over time, often… Continue Reading →
© 2026 Tressler LLP −
Disclaimer | Privacy Policy
Tressler Blog Network Bad Faith BulletinCGL DispatchLocal Government LowdownPrivacy Risk ReportThe Property LineSpecialty Lines Advisory