Paul Porvaznik – Business Litigator
Case Notes and Summaries of Recent Cases (State and Federal Courts – Illinois Focus)
A law firm’s failure to scrutinize its client’s transfer of property to a land trust backfired in Radiance v. Accurate Steel, 2018 WL 1394036. The case presents a priority fight between the plaintiff judgment creditor and the law firm who defended the debtor in post-judgment proceedings. The Relevant Chronology August 2013 – Defendant debtor transferred …
Continue reading “Judgment Creditor and Debtor’s Lawyers Duke It Out Over Equity in Home – ND IL”
The Illinois First District recently affirmed a mortgage foreclosure summary judgment for a plaintiff mortgage lender in a case involving the protection given to tenancy by the entirety (TBE) property. In Marquette Bank v. Heartland Bank and Trust, 2015 IL App (1st) 142627, the main issue was whether a marital home was protected from foreclosure where it was …
Continue reading “Joint Mortgage Debt Means No Tenancy By Entirety Protection for Homeowners”
It’s easy to robotically parrot the “beneficial interest in a land trust is personal property” rule but First Clover Leaf Bank v. Bank of Edwarsville, 2014 WL 6612947 (5th Dist. 2014) actually examines the rule’s impact against the factual backdrop of a judgment creditor trying to lien a debtor’s residence. The creditor plaintiff obtained a $400,000-plus judgment …