Legal Question in Real Estate Law in Illinois
If I put a lien on a property will this force the owner to sell the building or just ensure that I will receive my money if they sell the property?
2 Answers from Attorneys
What kind of lien? If it is a mechanic's lien you must eventually file suit to foreclose. If the owner makes a demand, you may have to file suit within 30 days of the demand. A lien is just a 'priority' and not a guaranty. It does not confirm the validity of your claim but IF and WHEN a judgment on it is entered you have priority of payment. Only after a foreclosure in your favor could you even begin to 'force' a sale. See an attorney.
In addition to Mr. Messutta's answer, keep in mind that if you do not follow the relevant statutes, you may be on the receiving end of a lawsuit for slandering the owner's title. Hire an attorney and avoid causing yourself problems.
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
