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 →
The City Council of Chicago has amended Municipal Ordinance 13-72-080 regarding inspection of records of a condominium association. Previously, the ordinance specified that financial records needed to be made available to owners who request so in writing, within ten days. … Continue Reading →
The Firearm Concealed Carry Act (430 ILCS 66(1), better known as the Concealed Carry Act (the “Act”), recently went into effect in Illinois. Subject to certain limitations, the Act allows a person to obtain a license to carry a concealed… Continue Reading →
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