Legal Question in Real Estate Law in Illinois
What is the legal date of foreclosure; the f/c sale date? the confirmation of sale date? Or the date of recording the sheriff 's deed?
Asked on 7/19/11, 2:30 pm
1 Answer from Attorneys
"Yes". It depends for what purpose. The foreclosure judgment is the date of the judgment. The property was "foreclosed" on confirmation of sale. Recording of deed confirms same. So really it depends on what the purpose of the question is. Technically title was lost on confirmation of sale subject to recording of the deed. Hope that helps. Confirmation of sale is also the date when the true deficiency amount can be calculated, because that's when the court ok's the amount of the sale.
Answered on 7/19/11, 3:10 pm