Six legal case studies, recent disciplinary actions by the Illinois Department of Financial and Professional Regulation (IDFPR) and an explanation of how the Unclaimed Property Act affects earnest money when transactions don’t close are just a few of the topics covered in the May D.R. Legal News for managing brokers.
In the top story, “The Unclaimed Property Act: It Applies to You,” Lisa Harms Hartzler, Sorling Northrup Attorneys, offers guidance to brokerage companies that hold escrow money and the application of the Unclaimed Property Act to the funds that might be held in those accounts.
Managing brokers can read Hartzler’s synopsis for a more detailed explanation.
D.R. Legal News is published online six times a year in a downloadable PDF format that is emailed to all Illinois REALTOR® members who are the Designated REALTOR® (or D.R.) for their real estate office. Be sure to watch and open all email from “Illinois REALTOR® Communications” or the “Illinois REALTORS®.”