Under Illinois law, what is the earliest point at which a property with delinquent real estate taxes may be subject to a tax sale?
Correct Answer
B) After taxes from the prior tax year remain unpaid following the county collector's application to the court
Under 35 ILCS 200/21-190, the county collector may apply to the circuit court for a judgment and order of sale against properties with unpaid taxes from the prior tax year. This means an annual tax sale can be initiated after just one year of delinquency — not three — once the collector's application and court order are obtained. The tax lien is then sold to investors at the annual tax sale, giving the delinquent owner a redemption period to reclaim the property by paying the outstanding taxes, interest, and penalties.
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Related Topics & Key Terms
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Related Concepts
Recording is the act of placing a document in the public records at the county recorder's office to give constructive notice to the world of an interest in real property. Recording protects the holder's interest against subsequent claims.
A special warranty deed guarantees that the grantor has not caused any title defects during their period of ownership, but does not warrant against defects that existed before the grantor acquired the property.
Title insurance is a policy that protects the insured party against financial loss from defects in title that were not discovered during the title search. Unlike other insurance, it covers past events rather than future risks.
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- → For an Illinois residence to receive a homestead exemption in a particular assessment year, what reference date must be used to test qualification?
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