Legal Question in Real Estate Law in Illinois

How long after foreclosure will I be responsible for the upkeep of the vacant property? Is it after the bank takes it back of after the bank has sold it?


Asked on 10/26/09, 9:48 pm

2 Answers from Attorneys
Sue Roberts-Kurpis, Esq. Law Office of Sue Roberts-Kurpis

Responsible to who? Once the property is foreclosed it belongs to the bank and is the bank's problem. Why would you have an obligation?

Read more
Answered on 11/01/09, 9:33 am
Joseph Michelotti Michelotti & Associates, Ltd.

If there are association dues you may be liable for those. Other than that if you are on the utilities, you may be liable for those. Also, you may be personally liable for any deficiency on the note.

Read more
Answered on 11/01/09, 11:03 am


Related Questions & Answers

More Real Estate and Real Property questions and answers in Illinois