The death of a borrower and what issues arise without a joint tenant

Realty Check

By Erica Minchella

Erica Crohn Minchella, is the head of the boutique real estate firm of Minchella & Associates, Ltd., handling residential and commercial real estate transactions and litigation such as foreclosure defense, quiet title, and partition actions. erica@ecminchellalaw.com

Posted November 19, 2020 12:07 PM

When I am counseling real estate purchasers, I always remind them that a mortgage transaction is actually two transactions: (1) the promise to pay back the money borrowed; and (2) the security agreement granting a lien against the property, which secures the repayment of the borrowed money (or so the lender hopes!).Complications can arise if the borrower dies without a joint tenant to whom the property automatically passes. It is easier and cheaper if the heirs agree about how to distribute the property, including the …

To Read the Full Story

Your source for legal news and information

Print & Digital Access

Stay in the know all year long with these benefits:

Delivery to your office in downtown Chicago or mailed outside our hand-delivery zone.
Unlimited access to chicagolawbulletin.com.
Access to our e-edition and mobile site.
Breaking news alerts, Morning Lineup and Afternoon Headlines.
Exclusive access to events, discounts and more.

Order now, or call 312-644-2394 or email Subscription@LawBulletinMedia.com for details.

Be in the know. These must-read insider briefings will keep you

informed of the latest legal developments in Chicago. Sign up today!

Manufacturer claims immunity for rubber bullet injury

Claiming immunity under the Protection of Lawful Commerce in Arms Act when Eduardo Santos sued for severe injuries allegedly caused by a police officer who shot him in the face with a rubber bullet, Defense Technology — the company that manufactured the “kinetic impact projectile” and KIP launcher — argued the statute’s product-liability exception didn’t apply.
By Steven P. Garmisa
A judge’s ethical imperative: Follow the law or face the JIB

“The law that applies to this case is stated in these instructions, and it is your duty to follow all of them.” So states Illinois Pattern Jury Instruction 1.01(2), which the judge reads to the jurors in every criminal case before the jury begins its deliberations. If we expect jurors to follow the law, we surely must expect judges to lead by example and do the same thing.
By David P. Sterba
Defendant challenges ‘judicial legislation’ in suit over insider trading

Accused of insider trading, Michael Shvartsman argued this offense is “criminal law made by judges” that violates Article I of the U.S. Constitution and the non-delegation doctrine.
By Steven P. Garmisa
Court assesses offsets against employee’s underinsured claim

The 7th U.S. Circuit Court of Appeals, construing Illinois law, recently held that an employee injured in an automobile accident was entitled to recover underinsured coverage from his employer’s automobile liability policy, subject to certain reductions.
By Don R. Sampen
Iowa Supreme Court blocks testimony about business records

In a case where prosecutors relied on the hearsay rule’s business-records exception to justify testimony about documents that weren’t admitted into evidence, the Iowa Supreme Court, citing decisions from across the country, reversed because “the rules of evidence create a ‘business records exception’ to the rule against hearsay and not a ‘testimony about business records exception.’”
By Steven P. Garmisa
Arizona high court rolls back clock to 1864 in abortion case

The Comstock Act of 1873 was referenced in the U.S. Supreme Court oral arguments in the mifepristone case recently heard, and may play a factor in at least some of the justices’ decisions. Turns out, Arizona told a certain justice, we know you like beer, hold this beer.
By Daniel A. Cotter
Aggregation supports corporate liability in case against Walmart

Count 2 of a civil complaint that accused Walmart of violating the Controlled Substances Act — by “knowingly” filling “ineffective” prescriptions from June 2013 to November 2017 — relied on mashup that combined the conduct of innocent pharmacists with the allegedly culpable knowledge of Walmart’s CSA “compliance team.”
By Steven P. Garmisa
6th Circuit mulls over mileage reimbursement for delivery drivers

In two cases consolidated for appeal about the correct reimbursement rate under the Fair Labor Standards Act for pizza delivery drivers who use their own vehicles, one district judge agreed with the drivers — ruling they are entitled to the standard rate of $0.54 per mile set by the Internal Revenue Service for business deductions in 2018.
By Steven P. Garmisa