Delinquent taxes question

[Chris Chesser]

As I was running a practice analysis on a multi family property, I came across a situation in which property taxes from 2016 have not yet been paid. The current owner of the property is listed as a trust, and the mailing address is out of town. Name for the mailing address has a different first name from the trust, if that matters. In 2016, the property was put on the market right before tax time and then removed after the second installment date had passed.

This brought up a few questions for me:

1. In Illinois, how long can a person retain possession of property with delinquent taxes before it is repossessed?

2. If someone were to purchase the property, who would need to pay the delinquent tax bill?

3. Since current owner is a trust, does this mean that the original owner has likely passed away?

[Emmett R. McCarthy]

1.  The redemption period for Illinois tax sales depends on the number of years delinquent and the type of property. Generally, residential properties have a 2.5 year redemption. If  The tax buyer has strictly complied with the Illinois property tax code, they can get possession about a month or two after the redemption period has expired.

2.  Who pays the taxes, whether current or delinquent, depends on the purchase contract. 

3. As Ned pointed out above,  there are many reasons a property can be held in trust. You did not indicate whether it's a living trust or a land trust. Land trusts are generally used in Illinois to hide ownership and make it easier to change ownership (the beneficiaries) rather than having to deed it. 

Thanks.