Nelson v. Folegstrom

7 Citing cases

  1. Libertyville Township v. Woodbury

    460 N.E.2d 66 (Ill. App. Ct. 1984)   Cited 6 times

    They do not necessarily indicate that recovery is appropriate here and we therefore do not rely upon them for our disposition. Woodbury relies upon Nelson v. Fogelstrom (1972), 5 Ill. App.3d 804, 284 N.E.2d 339, for the proposition that no debtor-creditor relationship is created by the giving of public aid benefits authorized by statute. Nelson so held by approving the reasoning of another case which stated that the benefit payments at issue "were not made in pursuance of any contract between the parties."

  2. Mark v. Whitehall N., LLC (In re Cnty. Treasurer)

    2013 Ill. App. 120205 (Ill. App. Ct. 2013)

    Ill. S. Ct. R. 341(h)(7) (eff. July1, 2008). ¶ 15 The petitioner argues next that judgments were not valid because they were entered against Mrs. DeCaro, individually, rather than as trustee of the DeCaro trust. He points out that as an asset of the trust, the property was considered personal property and therefore was not real estate owned by Mrs. DeCaro. He relies on Nelson v. Fogelstrom, 5 Ill. App. 3d 804 (1972). In Nelson, the Department of Public Aid recorded a lien against real property held in a trust.

  3. In re Romano

    426 F. Supp. 1123 (N.D. Ill. 1977)   Cited 17 times

    Finally, and most important, unlike the owner of real property, the beneficiary under an Illinois land trust has no right to redeem his interest upon sale by a secured creditor for satisfaction of a debt, Shefner v. University Nat'l Bank, 40 Ill. App.3d 978, 353 N.E.2d 126 (1976), and a lien on a beneficial interest ( i.e., a pledge of such an interest), is not a lien on the real property itself. Nelson v. Fogelstrom, 5 Ill. App.3d 804, 284 N.E.2d 339 (1972); Quinn v. Pullman Trust Savings Bank, 98 Ill. App.2d 402, 240 N.E.2d 791 (1968); Chicago Title Trust Co. v. Mercantile Bank, 300 Ill. App. 329, 20 N.E.2d 992 (1939). Thus, the assignment of a beneficial interest in a land trust does not create a "mortgage" in any sense, and the "foreclosure" of such an interest is governed not by real property principles but rather by traditional contract/personal property standards.

  4. Tankersley v. Albright

    374 F. Supp. 538 (N.D. Ill. 1974)   Cited 14 times
    Finding conflicts of interest generally are prohibited but this proscription is subject to modification by settlor; mere existence of a conflict does not automatically require a prohibition of trustees' planned action where trust instrument creates conflict

    Continental Nat'l Bk. v. Sever, 393 Ill. 81, 93, 65 N.E.2d 385, 391 (1946). See Nelson v. Folegstrom, 5 Ill. App.3d 804, 806, 284 N.E.2d 339 (3d Dist. 1972); In re Moir Hotel Co., 186 F.2d 377, 381 (7th Cir. 1950); In re Flagg's Estate, supra 73 A.2d at 415; Altschuler v. Chicago City Bk. Trust Co., 380 Ill. 137, 142, 43 N.E.2d 673 (1942); Morris v. The Broadview, Inc., supra 328 Ill.App. at 272-273, 65 N.E.2d 605. Thus, the Trustees' proposed action should be upheld unless it constitutes fraud, bad faith, dishonesty, or an abuse of discretion.

  5. In re Kleckner

    65 B.R. 433 (Bankr. N.D. Ill. 1986)   Cited 3 times

    The elements of an equitable lien are (1) a debt, duty or obligation owing by a person to another and (2) a res to which that obligation fastens, which can be identified or described with reasonable certainty. Avco Delta Corp. Canada Ltd. v. U.S., 484 F.2d 692 (7th Cir. 1973); Cert. denied Canadian Parkhill Pipe Stringing Ltd. v. U.S., 415 U.S. 931, 94 S.Ct. 1444, 39 L.Ed.2d 490 (1974); Nelson v. Fogelstrom, 5 Ill. App.3d 804, 284 N.E.2d 339 (3rd Dist. 1972); Calacurcio v. Levson, 68 Ill. App.2d 260, 215 N.E.2d 839 (2nd Dist. 1966). To create an equitable lien, there must be an actual assignment of a portion of a fund.

  6. St. Charles Sav. Loan v. Est. of Sundberg

    150 Ill. App. 3d 100 (Ill. App. Ct. 1986)   Cited 11 times
    In Sundberg, the trust agreement contained a provision which was practically identical to language contained in the trust agreement in FDIC and in the Trust Agreement at issue here.

    Furthermore, title to real estate held in a land trust is not subject to a statutory lien. ( Nelson v. Folegstrom (1972), 5 Ill. App.3d 804, 806.) Finally, the original assignment to the bank "for collateral purpose only" did not create a lien on the real estate which was held in the trust, and, therefore, when the SBA failed to have its interest included in the foreclosure decree of May 29, 1984, it lost its chance of having its claim become a lien on the real estate.

  7. First Fed. Sav. Loan Assoc. v. Pogue

    72 Ill. App. 3d 54 (Ill. App. Ct. 1979)   Cited 21 times

    ) While a judgment becomes a lien on real estate when evidence of it is recorded in the county in which the real estate is located (Ill. Rev. Stat. 1977, ch. 77, par. 1), registration of a judgment against the beneficiary of an Illinois land trust in the county where the trust real estate is situated does not have the effect of impressing the real estate with a judgment lien. (See, e.g., Sterling Savings Loan Association v. Schultz, 71 Ill. App.2d 94, 106-07 (1966). See also Nelson v. Folegstrom, 5 Ill. App.3d 804, 806 (1972).) Therefore, when Oak Brook filed its judgment of $29,815.90 against John M. Pogue, it appears that Mr. Pogue had no actual ownership or record title to property in Du Page County upon which a lien could be impressed.