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Solo In Chicago

...empowering the Second City's entrepreneurial legal community

Monday, October 06, 2008

Hot Off the Presses

Just heard this from a reliable source:

I'm happy to report that the City Council Finance Committee today unanimously passed Ald. Burke's proposed Ordinance to bar transfer taxes on the transfer of interest in marital home real estate pursuant to Judgment for Divorce or Separation,, including an amendment which I suggested making the proposal retroactive (to 1992!). I led off the testimony which also included Mario Ventrelli of the Schiller firm, Helene Snyder on behalf of the CBA and a Woman victim of the harebrained idea was was a client of mine which started this whole thing.

Note that they intend to NOT exclude business real estate, and there was no discussion of second homes.

I expect the proposal to pass.

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