Legal Question in Real Estate Law in Illinois

what is the statute of limitations in Illinois? we purchased a condo and later found out the building condo association board and management knew about a history and current issues with exterior facade water infiltration as well as windows allowing water infiltration. Shouldn't this has been disclosed by management prior to the sale?


Asked on 5/17/10, 6:49 am

2 Answers from Attorneys

Adam S. Tracy Securities Compliance Group Ltd

Thank you for your question. The answer is most certainly, you would have a claim. The statute of limitations would begin to run when the latent defect was first discovered by you - not when you may have moved in, for instance. You could potentially have claims against the people who sold you the house and the condo association. Please let me know if you have any further questions, as there seems to be a few moving parts here. My email address is: [email protected]

Thanks,

Adam Tracy

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Answered on 5/22/10, 11:19 am

Thank you for your question. Management was not in privity with you and if you had access to minutes and other condo documents before the sale, I have some real doubts as to whether you have a claim against the condo association based on the limited information that you provided.

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Answered on 5/23/10, 2:33 pm


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