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13 Prob. & Prop. 1 (1984-1985)

handle is hein.journals/prbtprty13 and id is 1 raw text is: Section of Real Property, Probate and Trust Law American Bar Association Vol. 13, No. 1, Summer 1984 Chairman's Report by John A. Gose This report follows the Spring Council meeting which was held in Seattle on May 4, 5 and 6, 1984. As evidenced by the reports at that meeting, this has been a very active year. The Probate and Trust Division has been work- ing with the congressional tax writing committees, their staffs and the Treasury Department on various new tax proposals, including generation-skipping. The Division also plans to seek blanket authority to express its disapproval of the present special rules incorporated in I.R.C. S 2032A, with respect to future and partial interests there covered. On the Real Property side, the Division has been closely monitoring the proposed Uniform Fraudu- lent Transfers Act. It was largely the result of the Division's effort that the Act does not embody the principles of the Durrett (621 F.2d 2101 5th Circuit 1980) case. In addition, the Real Property Divi- sion evidenced a concern with the actions of the American Land Title Association in enlarging and rewriting paragraphs 1 and 2 of the exclusions from coverage under their ALTA policy. These broad- ened exclusions were brought about by a spate of hazardous waste legislation and the liens created pursuant to that legislation. The rewriting of para- graphs 1 and 2 narrowed the definition of what is considered a public record from a title examiner's point of view. The Council adopted a resolution disapproving the revisions and stating that the ad- ditional limitations on title insurance coverage are unacceptable unless coupled with further revisions or an endorsement to give more adequate protec- tion against those matters which appear in the public records and are susceptible of notice by a competent title examination. I would urge each of you to attend the Annual Meeting in Chicago. There are some excellent edu- cational programs, including the Probate Division's Legal and Ethical Issues- Termination of Medical Treatment Decisions; Divorce and Estate Plan- ning; and Planning Considerations for Lawyers, Other Professionals and Executives in Light of Re- cent Tax Legislation; and the Real Property Divi- sion's Land Development in Environmentally Sensitive Areas; What Every Lawyer Should Know about the Basics of Real Estate Appraisals: An Economic and Litigation Analysis; and Ef- fects of Environmental Regulations on Landowner Liability. In addition, the Section will sponsor the normal real estate potpourri on a multitude of inter- esting real estate subjects. For more details about the Annual Meeting, see page 12 of this issue of the newsletter. There will also be a meeting of the ABA Assem- bly on Monday, August 6, at 11:00 A.M. to con- sider the recommendations of the Commission on (continued on next page) Issue Highlights Bylaw Amendments Proposed...........3 Pre-ERTA OTIP Clauses ............. 10 °98 ANL NG .A Highlights in Real Estate Law and Practice. 13 1984 Tax Legislation Update............22 Meeting by:Conference Call............ 25 Copyright © 1984 American Bar Association Produced by the ABA Press

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