Legal Question in Real Estate Law in Illinois
Leased land
We had property that was on leased land. The woman who owned the property died. New owners bought the property and we purchased it. The sale closed between the new owners and the estate. My question is, can the new owners claim to or collect a lease that was owed to the dead woman, prior to their purchase of the land? The estate never tried to collect before the purchase and the new owners now claim they can legally collect all past due rents that were owed the dead woman. Is this true?
1 Answer from Attorneys
Re: Leased land
Hello and thank you for your
very interesting question.
In my opinion, I believe an
argument can be made that
the now owners cannot collect
the money owed the now deceased former owner. Be
very careful in dealing with
them and hire a lawyer to
represent you immediately!!