What are my options if thedevelpoer defaulted on the property tax bill of my new condo?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
What are my options if thedevelpoer defaulted on the property tax bill of my new condo?
I purchased a newly constructed condo last year. From what I’ve heard, is that the county never received a property tax payment for the year previous to that from the developer. That bill has a final due date of today before it’s “sold off.” I’m not even sure what that means. Being a soon deploying soldier on Active Duty, I’m not in IL and don’t have the available time to take care of this myself. But I still ask, what are my current options and/or if I need to sue him, how much would it cost and what hoops would I need to jump through?
Asked on July 13, 2011 under Real Estate Law, Illinois
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 13 years ago | Contributor
When you purchased your condominium from the developer last year, did you use an escrow company to handle the sale? If you did, typically there would be a preliminary report as to the title of the property being acquired setting forth any liens recorded on it before close of escrow.
If there were unpaid property taxes on your condominium and if there was a preliminary report ordered for you where a final title insurance policy was issued to you, the unpaid property tax bill should have been picked up before close of escrow and the developer would have been required to pay the unpaid property taxes as a condition of closing the sale.
If you received a preliminary report and a final title insurance policy regarding the condominium and there is no mention of the unpaid property taxes by the prior owner, you need to contact the title insurance company and make a claim under your title insurance policy.
If you can afford to pay the unpaid property taxes, you should pay them in any event and then seek recourse under any title insurance policy that did not mention the unpaid amount and go after the developer for reimbursement.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.