Mike, I am a tax lien foreclosure attorney in NJ. Here,
at the time we get final judgment we also get a Certificate of Regularity from a title abstract company. This insures that all defendants named in the complaint were properly served, whether by personal service or publication. We then take this certificate to a title insurance company who grants us title insurance attesting to the fact that we now have good and marketable title. Both of these people analyze every little detail of the case and title report. I don’t know Illinois law but I imagine your foreclosure attorney would have to jump through the same hoops. If this was done you have little chance of losing. That’s the good news. On the other hand, I have heard stories of some bleeding heart liberal judges vacating judgments up to a year after they were obtained. let me know how it goes.
I have a potential problem with a property that I acquired via a tax certificate that eventually went to deed. I am now the legal owner of this building, but the person that lost the property decided she is going to contest the case because she feels she was improperly served. Obviously, the case needs to be heard, and, I think the odds are in my favor that I’ll retain ownership since the case already went to court once and the judge awarded the deed to me. Here’s my problem. I’m sure I can flip this property quickly, but what would happen if she does win the case. The new owner of the building would then have to give the deed back to her, I presume. Would an owner’s title policy cover the new owner? Would the new owner have recourse against me? I’m afraid I might be stuck in a situation where my hands are tied until this case is heard and I have a definitive verdict one way or the other. With delay tactics of opposing attorneys and the slowness of the court system, this could take several months to get resolved.
Any advice is appreciated. By the way, the property is in Illinois if that matters.