Smoron Inks ISBA Article on Recapture Fees and ForeclosuresMichael J. Smoron
Michael J. Smoron of Zukowski, Rogers, Flood & McArdle, the largest law firm in McHenry County, Illinois, has authored a March 2016 article in “Local Government Law,” the newsletter of the Illinois State Bar Association’s Section on Local Government Law.
The article, titled “Second District provides recapture rights not subject to foreclosure,” analyzes F.R.S. Development Company, Inc. v. American Community Bank and Trust, 2016 IL App (2d) 150157 (2016), a recently decided Second District Appellate Court case.
F.R.S. clarified the nature of recapture rights in a decision that resolved the aftermath of a foreclosure proceeding, a deed in lieu of foreclosure, and the former property owner and developer that sought to obtain an agreement for recapture fees for road improvements in Huntley, Illinois.
Specifically, Smoron writes, the court held that rights to recapture fees collected by local governments to reimburse parties who make roadway improvements are considered personal property rights, not real property rights that are subject to foreclosure.
For more information, please read Michael Smoron’s ISBA article.