Legal Question in Real Estate Law in Illinois

I just purchased a tax lien. What are my obligations for notification in IL and what do I need to do to foreclose on the property after the 2 year redemption period?


Asked on 11/18/12, 11:50 am

1 Answer from Attorneys

Glenn Guttman Rieff Schramm Kanter & Guttman

Within four months and 15 days after the date of the tax sale, the tax purchaser must prepare the notice required by Illinois statute. The notice must be

completely filled in, in compliance with the statute, and addressed to the party in whose name the property taxbill was issued to. The tax purchaser must submit the notice in triplicate to the County Clerk together with the required fee. The County Clerk then mails the notice to the party to whom it is addressed. Failure to comply with the statutory requirements may result in denial of the tax deed petition.

There are other "due diligence" requirements that must be strictly complied with in order to get a tax deed as well. Due to the somewhat complicated notice requirements, form documents that need to be filled out and other requirements needed to pursue obtaining a deed, it is highly recommended that you hire a professional (attorney) who specializes in this type of representation. One mistake can ruin your chances to obtain a deed to the property which could be very costly indeed.

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Answered on 11/19/12, 7:56 am


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