Legal Question in Real Estate Law in Illinois
I am part of a 12 unit condo complex and a one of the owners of a unit died. His unit is going into foreclosure and the bank filed a complaint for foreclosure, naming our condo association as a defendant. They are trying to terminate any interest we have in that unit. Do we as an association have to file a response? If we do not, what will happen?
Asked on 5/19/11, 8:00 pm
1 Answer from Attorneys
Zedrick Braden III
Ainsworth & Associates PC
Hello. Yes, a response should be filed, but I strongly suggests that you hire an attorney to handle this for the condo association. If the condo association does not file a response, the bank may end up owning the unit and then may be able to sell the condo unit, without input from the condo association.
Answered on 5/19/11, 11:50 pm