Condominium & Community Association News

A new and powerful tool to compel prompt payment of assessments 

On December 3, 2015, the Illinois Supreme Court entered its order in 1010 Lake Shore Association v. Deutsche Bank National Trust Co. In a unanimous decision written by Justice Kilbride, the Court held that a post-foreclosure mortgagee was liable for the full balance of unpaid assessments, even those which accrued prior to its foreclosure of the property under Section 9(g) of the Illinois Condominium Property Act 765 ILCS 605/9(g). 

Chuhak & Tecson, P.C. participated in this suit before the Illinois Supreme Court by filing an amicus curiae brief on behalf of the Community Association Institute (“CAI”) that was accepted by the Court. CAI is an international organization of Community Association managers, Board Members and Unit Owners dedicated to fostering vibrant, responsive and competent Community Associations by providing information and educational opportunities that give its members the knowledge to optimally manage their Associations. 

To read more about this decision, click here.

            Critical Updates  

Changes to the Condominium Property Act
Changes to the Illinois Condominium Property Act for 2016 are far fewer than in 2015 and will not go into effect until June 1. However, a number of the current changes affect critical provisions regarding open meetings, notice of meetings and amendments to condominium instruments.

Changes to the Common Interest Community Associations Act
This update mainly addresses changes that will go into effect in 2016, but includes a special note regarding the Illinois Common Interest Community Associations Act change from July 2015. It focuses on Ombudsperson Act compliance, and amending and restating to address conflicting language in the CICAA.


Insurance Corner

Navigating the currents of timely notice in third-party liability policies: best practices

Sooner or later, every insurance policyholder faces a potential storm: An accident or mistake happens, a suit is threatened, now what? It is the age-old quandary for insurance policyholders, when to give notice of a potential claim. This is not a philosophical or esoteric inquiry; the stakes are high. Failure to give timely notice of a covered claim may defeat insurance coverage entirely. To read more, click here.
This newsletter is provided as an advertisement and for informational purposes only, and is not, nor is intended to be, legal advice. You should consult an attorney for advice regarding your individual circumstances. Contacting Chuhak & Tecson, P.C. does not create an "attorney-client" relationship. Please do not send any confidential information until such time as an "attorney-client" relationship has been established. If you wish to stop these emails, please click the unsubscribe link below.

Copyright © 2016 Chuhak & Tecson, P.C., All rights reserved.

Want to change how you receive these emails?
You can update your preferences or unsubscribe from this list

Email Marketing Powered by Mailchimp