Legal Question in Real Estate Law in Illinois
Buying a home for the Taxes
So a guy a know who owns a couple houses told me
about this house down the street that he used to take
care of had been empty for at least two years. The guy
who lived there died and his daughter just left it there. I
called this lady and she said she wanted nothing to do
with the house. I told her that I was going to move into it
and she said she didnt care, and if I called her again
she would call the police. So I sent my father up to the
city office and they said something like the taxes had
been paid for 2003 by a man but none since then. From
what i got from my dad it seems that if i pay the back
taxes on the house that i can file for a quick claim deed
and the house will be mine. Is there any truth to this or
is there more to this situation that i need to be aware of.
The lady at city hall told my dad that people do this all
the time. I just had twins and can't afford a house of my
own and this would be a great oppurtunity for me, so if
anyone could help i would greatly appreciate it.
2 Answers from Attorneys
Re: Buying a home for the Taxes
If you purchase the taxes on the house, the daughter has 18 months to redeem it. She would have to pay you the amount of the taxes, plus 19% per year. If she doesn't redeem it in that time, the property is yours. You have one other problem. You said that "a man paid the 2003 taxes." He is probably doing the same thing you are doing. You had better check this out before you do anything.
Re: Buying a home for the Taxes
It is not adequate to just pay the back taxes. You will need to buy the taxes at the tax sale which your county conducts every year. You will need to call them to determine the date and time. Even if you are the successful bidder at the tax sale, if someone has already purchased the 2003 taxes, as your question seems to indicate, they will get the property, and you will be second in line to them. Tax buying is not a simple operation, so please get some direction before you attempt this.
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