Tax Deeds - Redemption in IL? - Posted by Kevin - IL

Posted by Kevin - IL on July 03, 2003 at 11:01:25:


Thanks for the quick reply. I spoke to an attorney and it appears the redemption period expired. In fact, the tax buyer extended it on multiple occassions but the h.o. failed to redeem. Since they were notified by publication and did not occupy the house, I think they may not have been aware of the deed transfer.

I’ll let the h.o. contest the legality of the proceedings. In the meantime, I’ve contacted the tax buyer to purchase the property. If the tax buyer wants to sell, I’ll have my attorney verify that the former h.o. has no remaining claim on the property.

Tax Deeds - Redemption in IL? - Posted by Kevin - IL

Posted by Kevin - IL on July 03, 2003 at 08:55:33:

Hi All,

I was contacted by a homeowner that wants to sell a property they own. They are in foreclosure on another property and want a quick sale for cash to stop that foreclosure.

In doing my “due diligence” I discovered that the taxes haven’t been paid in 4 years. The 1999 tax buyer initiated a suit to get the deed. The tax buyer extended the deadline multiple times, but ultimately finished the suit. On 6/26 the tax buyer was awarded a deed. I reviewed the court docs and everything appears legal and proper.

I believe the now “former” homeowner is unaware that ownership has transfered. In March, this property was in mortgage foreclosure. The owners paid off the mortgage in full ($50k) to stop the foreclosure.

Here’s my question: Is there anyway for the now former homeowner to redeem this property from the tax deed transfer sale? I have not told the homeowner about the tax deed situation, but I plan on calling them later today.

thanks in advance

Re: Tax Deeds - Redemption in IL? - Posted by MNChicago

Posted by MNChicago on July 03, 2003 at 12:48:05:

Illinois has a two year redemption period from
date of sale, or up to the extention time provided
by the holder.

Re: Tax Deeds - Redemption in IL? - Posted by Ronald * Starr(in No CA)

Posted by Ronald * Starr(in No CA) on July 03, 2003 at 09:04:03:


Hi, nice to talk to you.

Does not sound like it to me. But, every state has different laws. You could find out by reading the statutes of IL relating to tax deeds and see if there is any redemption period. There might also be the possibility of getting the deed overturned because of improper procedure in doing the lawsuit. The chances of something like that seems pretty slim to me. But given how many mistakes people make, I think it might be worth pursuing. I’d recommend that you talk to an attorney that is very familiar with this topic. I am not an attorney and I have never been involved with tax sales in IL, except to check them out a little.

Good Investing**************Ron Starr****************