Legal Question in Real Estate Law in Illinois
Sale of property
A nonprofit recieved land from the city for $1.00. Non profit has builder and architect design and build home. What issues are need to convey the house? Conveyed from who want to purchase non-profit to architect
2 Answers from Attorneys
Re: Sale of property
It's not clear to me what your question is, but there may've been some "strings attached" to the $1.00 purchase. In other words, maybe the City said they couldn't resell for a certain period of time or whatever. Depending on that, if you were able to sell, one would need the typical seller's documents: deed, title commitment, etc.
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Re: Sale of property
Depends on the restrictions on the sale. Could be as simple as a quit claim deed or as complicated as a suit to quiet title.
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