On December 3, 2024, the U.S. District Court for the Eastern District of Texas issued a NATIONWIDE preliminary NATIONWIDE injunction against the Corporate Transparency Act (Act). See Texas Top Cop Shop, Inc., et al. v. Garland, et al. In the underlying case, the Plaintiff argued that Congress essentially “overreached” its authority over the States in compelling them to adopt the requirements of the Corporate Transparency Act. The U.S. District Court ultimately granted the Plaintiff’s request to preliminary enjoin the Government from enforcing the Corporate Transparency Act and its Implementing Regulations, ruling that “Neither may be enforced, and reporting companies need not comply with the CTA’s January 1, 2025, BOI reporting…
Continue Reading Urgent News! Corporate Transparency Act Compliance Enjoined by a Federal Court on December 3, 2024 – Compliance Stalled

A substantial change is on its way for Illinois Condominium Associations beginning January 1, 2025. This is a new transformative approach to accessible parking for residents with disabilities.

Here is what the new rule means and why it matters: Beginning January 1, 2025, the Illinois Condominium Property Act (ICPA) will have new guidelines requiring accessible parking for disabled unit owners. This pivotal change requires each homeowner association (HOA) existing on January 1, 2025, to:

(1) Adopt a written policy to accommodate unit owners with a disability by April 1, 2025,

(2) Provide proactive resolutions and

(3) Ensure that there is…
Continue Reading New Year, New Rules: Navigating Illinois’ 2025 Accessible Parking Mandate for Condos

Tressler attorneys Kathryn A. Formeller, Simone E. Haugen and Adriana M. Bosco successfully represented board members of a condominium association. Two years after closing, a unit owner of the condominium association filed suit against the board members for breach of fiduciary duty (on numerous issues including underfunded reserves) and violation of Section 22.1 of the Illinois Condominium Property Act.  After a four-day trial, the jury returned a very low, favorable verdict in favor of the board members.

Congratulations, Kat, Simone and Adriana! About Kathryn A. FormellerKathryn A. Formeller is a partner and Chair of Tressler’s HOA Practice Group. Her…
Continue Reading Kathryn A. Formeller, Simone E. Haugen and Adriana M. Bosco Secure Favorable Jury Verdict for Condominium Board Members

We are pleased to invite you to our upcoming virtual Tressler Talk:Tressler Talks: Advanced Financials in HOA LawOctober 9, 20242:00pm-3:00pm CTWebinarJoin Tressler’s experienced attorneys for this complimentary Illinois HOA board and property management training. This popular webinar provides an advanced, in-depth analysis of community association finances and overall financial stability. Attendees will learn best practices for handling the complex financial aspects of a community/HOA. Attendees will earn 1.0 Hour of CAMICB Continuing Education Credit. 

Register Now: cvent.me/AmzxVL

View Event Website: cvent.me/b4ZVLl

Meet Our Speakers:

Kathryn FormellerPartner at Tressler LLP

Kathryn Formeller is a partner and Chair of…
Continue Reading Tressler Talks: Advanced Financials in HOA Law

Tressler is excited to welcome Sayra V. Contreras as an associate in our HOA Practice Group. Sayra concentrates her practice in litigation with a focus on representing condominium associations and common interest community associations in areas such as rule enforcement, interpretation of governing documents, review and negotiation of contracts and collection of assessments.

“Joining Tressler LLP as a litigation attorney is a remarkable opportunity. I admire Tressler’s collaborative culture and commitment to excellence. I am eager to use my skills to help our clients navigate complex legal challenges in today’s ever-evolving legal landscape,” said Sayra Contreras.Prior to joining Tressler LLP,…
Continue Reading Sayra V. Contreras Joins Tressler’s HOA Practice Group

The Corporate Transparency Act (“CTA”) is here to stay, and for now, condominiums, townhomes, homeowners and community associations must file the required Beneficial Ownership Information Report (BOIR) by December 31, 2024. Failure to comply will result in penalties imposed by the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN). The primary goal of the CTA is to increase business transparency and accountability, thereby preventing illegal activities such as fraud, money laundering and tax evasion.

Like the Illinois Secretary of State’s annual report (for which all board members’ names and addresses are disclosed on the annual report), the BOIR…
Continue Reading Corporate Transparency Act: All Associations Must File Report with FinCEN by 12/31/24!

While independent parties continue to challenge the application of the CTA to condominium and homeowner associations, it still appears to apply. We recommend that associations hold off on its reporting requirements as we continue to obtain further clarity on the CTA as it seems to be an ever-evolving statute. To that, new guidelines for compliance were issued on April 18, 2024. This involves a nationwide database of beneficial ownership (i.e. board members, as board members exercise substantial control over reporting company/association). Further, a reporting company may provide a FinCEN identifier (“FinCEN ID”) instead of the beneficial owner’s personal information when filing. This allows board…
Continue Reading Quick Update on the Corporate Transparency Act: Do Condos and HOAs Have to Comply?

We are pleased to invite you to our upcoming virtual Tressler Talk:Tressler Talks: Important Nuances in HOA Collections, Foreclosures and BankruptciesTuesday, March 5, 20242:00pm-3:00pm CT WebinarJoin Tressler’s experienced attorneys for this complimentary Illinois HOA board and property management training. Get ready for some cringe-worthy true stories from our popular presenters! Attendees will come away with a deeper understanding of the complex relationships between Illinois law, the board’s fiduciary obligation and the community manager’s role in the legal process. 1.0 Hour of CAMICB Credit is currently pending. 

Register Now: cvent.me/xP7Xzq

View Event Website: cvent.me/EPqK98

Meet Our Speakers:

Kathryn FormellerPartner…
Continue Reading Tressler Talks: Important Nuances in HOA Collections, Foreclosures and Bankruptcies

This holiday season, Tressler’s HOA/Condo Law Practice Group attorneys Kathryn A. Formeller, Katerina Tsoukalas-Heitkemper and Matthew J. O’Malley share their favorite traditions, memories, food and recipes. Check them out below. We wish you a Happy Holidays and a wonderful New Year!

Kathryn A. Formeller – Partner

Favorite Holiday Recipe:

Thanksgiving Day: Whipped Sweet Potatoes and Bananas with Honey.

Favorite Holiday Tradition:

My family and I visit the reindeer at Chalet Nursery the day after Thanksgiving.

Favorite Holiday Movie:

Home Alone (the original).

Katerina Tsoukalas-Heitkemper – Partner

Favorite Holiday Tradition:

I am a HUGE nutcracker collector. I have been…
Continue Reading Tressler’s HOA Law Holiday Highlight – Part I

We are pleased to invite you to our upcoming virtual Tressler Talk:HOA Board Basics – Annual Board Elections and Budget MeetingsThursday, October 5, 20232:00pm-3:00pm CT WebinarJoin Tressler’s experienced attorneys for this complimentary HOA board and property management training. This popular webinar is open to all, and attendees will come away with a deeper understanding of the annual board elections and budget meetings process. As always, our presenters will share engaging true stories to keep things fun (because “fun” is the first thing that comes to mind when thinking of HOAs and property management…right?) We’ve seen it all, and we’re here…
Continue Reading Tressler Talks: HOA Board Basics – Annual Board Elections And Budget Meetings

Every year more people are purchasing units in condominium associations. If it is your first home, an investment property, or a downsize, purchasing a unit in an association has many benefits. For example, the association will maintain the common elements and you may have access to many amenities. However, when buying a unit, one thing that owners often overlook is purchasing additional insurance for their unit.

Almost every Declaration in the state of Illinois requires homeowners to take out some form of insurance policy for the interior of their units. These insurance policies do not cover displacement, lost rent, or…
Continue Reading Are You Adequately Insured Against Catastrophic Damage?