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In a recent decision by the U.S. Bankruptcy Court for the Central District of Illinois, the court held that mortgage documents are flawed when they fail to state the maturity date and interest rate of the loan, even though the underlying statute says that information “may” (not “shall”) be included in the contract.

In re: Jeannine Victoria Heaver, No. 09-B-73096 (N.D. Ill. 2012), the U.S. Bankruptcy Court for the Northern District of Illinois held that a mortgage that is recorded before the deed to the mortgagor was recorded is outside the property’s chain of title.

Personal property exemptions and trusts.

Mechanics Lien Act. Public Act 97-966 (Althoff, R-Crystal Lake; Tyron, R-Crystal Lake) requires work to be done or materials furnished within three years for residential property and five years for any other kind of property.

Radon Resistant Construction Act. Public Act 97-953 (McAsey, D-Lockport; Collins, D-Chicago) creates the Radon Resistant Construction Act. It requires all new residential construction include passive radon resistant construction.

Trust modernization I. Public Act 97-920 (McAsey, D-Lockport; Dillard, R-Hinsdale) modernizes Illinois trust law by allowing “decanting” of trusts.

Trust modernization II. Public Act 97-921 (McAsey, D-Lockport; Silverstein, D-Chicago) Public Act 97-921 adds flexibility to Illinois estate planning and administration of trusts by the use of “directed trusts.”

False UCC filings. Public Act 97-836 (Zalewski, D-Chicago; Harmon, D-Oak Park) amends the Secured Transactions Article of the Uniform Commercial Code.

Judicial Privacy Act. Public Act 97-847 (Madigan, D-Chicago; Cullerton, D-Chicago) creates the Judicial Privacy Act that allows a judge to prohibit a government agency or business from publishing “personal information” about a judge.

Open Meetings Act. Public Act 97-827 (Pihos, R-Glen Ellyn; Dillard, R-Westmont) makes two changes to the Open Meetings Act.