Legal Question in Real Estate Law in Illinois

Seller voided contract b/c they did not want to pay back fees

I had a contract on a unit and the Seller and I went to the closing table and the day of closing the seller had an addendum for me to pay half of back assessment fees from the previous owner. The contract clearly states the seller is responsible fo all assessment fees prior to me taking ownership. Can they just breach the contract like that, because I don't think its my duty to pay fees that were there prior to my purchase


Asked on 10/31/08, 5:16 pm

1 Answer from Attorneys
Naheed Amdani Law Offices of Naheed A. Amdani, P.C.

Re: Seller voided contract b/c they did not want to pay back fees

If the Seller is a bank and the property has been foreclosed, the Illinois Condominium Property Act states that the buyer is responsible for up to six months of back assessments for the time period prior to when the bank foreclosed the property, assuming that such assessments are still unpaid. The bank is liable for the assessments from the first day of the month after the month in which it forecloses the property; it is not customary to charge the buyer for that period of time.

If you are not buying foreclosed property from a lender, then it is customary for the seller to pay all past due assessments, unless you contracted otherwise.

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Answered on 10/31/08, 6:23 pm


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