Illinois Department of Financial and Professional Regualtion


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Appeals panel: State OK to fine attorney who acted as lawyer, real estate agent on same property sale

By Scott Holland | Nov 23, 2018

A state appeals court said a Lake County judge erred in overruling an Illinois Department of Financial and Professional Regulation finding that a lawyer was wrong to act as both real estate agent and attorney in a single transaction.

Choosing a hat: Proposal seeks to ease home closing costs by rewriting rules for IL lawyers who sell title insurance

By Jonathan Bilyk | Sep 28, 2018

A new legislative proposal would force real estate lawyers in Illinois who also serve as title insurance agents to 'choose which hat they will wear' in a home sale transaction, in a bid to reduce the typical closing costs paid by Illinois homeowners, and bring those costs more in line with the national average. But the proposal has drawn fire from lawyers and their associations, accusing supporters of the bill of unfairly 'scapegoating' lawyers for Illinois' relatively more expensive title insurance costs.

Judge: IL state agency overreached in prosecuting property tax lawyers for using comps in tax appeals

By Jonathan Bilyk | Jun 26, 2018

State bureaucrats who regulate real estate appraisers in Illinois have no authority to prosecute property tax lawyers, a Cook County judge has ruled, finding regulators overreached in claiming lawyers violated state appraiser licensing rules by using comparable property values to argue for a lower tax assessment for thieir clients.

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