Update on the DS-1

Judge Grants Attorneys’ Title Guaranty Fund’s Preliminary Injunction, Delays Implementation of the New DS-1

As an update to yesterday’s message, Attorneys’ Title Guaranty Fund filed a lawsuit yesterday against the Illinois Department of Financial & Professional Regulation (read the complaint).

An emergency hearing occurred today on ATG’s motion for a preliminary injunction, to delay the July 1 implementation of the proposed new DS-1 form. The hearing was heard before Hon. Thomas R. Allen.

We are happy to report that Judge Allen granted ATG’s motion. As such, practitioners should continue to use the old DS-1 form until further notice.

Chief among IRELA’s concerns are whether IDFPR has the authority to compel lawyers to disclose their attorney fees at the onset of the transaction, and to generally cast in a negative light lawyers who function as both attorneys and title agents.

IRELA will continue to keep you updated as this case progresses.

ATG is taking a stand for lawyers by filing this lawsuit, and their efforts should be applauded.