Legal Question in Real Estate Law in Illinois

we have been taken

on august of 1999 we rented a home. at that point we did'nt know that the home was going through the process of being foreclosed on. we ask the owner at that time did we have anything to worry about her response was no. on june 29th 2000 we received a letter stated that in 60 to 90 days the home will be indeed foreclosed on. what can we do to either stop this process or assume her house debt? and by law do we still have to. pay the owner rent if the home is no longer hers? we have paid the owner a sum of $9,900 over the past 11 months in rent and gaveup $1,350 security dep


Asked on 7/05/00, 12:32 pm

1 Answer from Attorneys
Zedrick Braden III

Re: we have been taken

Hello. Because you do not

have an ownership interest

in the property, you do not

have standing or an interest

which will allow you to get

involved in stopping the

foreclosure. Once the

property is foreclosed, the

landlord may redeem the

property, so it is really

to soon to say that your

interest as a tenant is

affected. Should you have

to move if the landlord fails

to redeem the property, then

you might have a basis for

a lawsuit against the landlord, if he or she failed

to disclose the fact that

the property was in foreclosure. I assume you

signed a lease to rent this

home. Good luck.

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Answered on 9/08/00, 2:37 am


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