Legal Question in Real Estate Law in Illinois

You can sue the LLC; the trick is always collecting the $. When I represent purchasers of new construction, I always counsel that the $ be put into an escrow account. The builders typically never do this. But clients want a "nest" and have to take this risk. Without knowing more, I'd say you are in bad shape on this issue, not because you are not correct, you have a bad set of facts. Can't tell for sure without more facts. You should contact a lawyer--soon.

You can pierce the corporate veil in instances of fraud. Other than that, you must sue only the llc. Please feel free to email me with further questions: [email protected]

You may be able to suethe LLC and the owners and all individuals, depedning on the circumstances. You should see a lawyer immediately.

You may be able to sue the LLC and the individuals, depednign on the circumstances. Contact an attorney immediately.

People say you can sue whomever you want to sue, and let the chips fall later. There usually has to be some basis in fact, however, and proving the case is the most difficult part. As to piercing the corporate veil, yes fraud, including "fraud in the inducement" such as taking your money knowing they would be closing up shop, could be grounds. But any gross financial mismanagement where the "owners" used the company funds like a piggy bank for themselves, overpaying, overspending, mixing up monies, etc., can really do the trick. But simply taking you money, not necessarily. Look at your contract -- if it was supposed to go into something like an "escrow" account, then the account may be free and clear. Have an attorney help if you're not sure what to do.

The response given is not intended to create, nor does it create an ongoing duty to respond to questions. The response does not form an attorney-client relationship, nor is it intended to be anything other than the educated opinion of the author. It should not be relied upon as legal advice. The response given is based upon the limited facts provided by the person asking the question. To the extent additional or different facts exist, the response might possibly change. Attorney is currently licensed to practice law only in the State of Illinois. Responses are based solely on Illinois law unless stated otherwise.