Legal Question in Real Estate Law in Illinois
Unjust enrichment ramifications
Recently, my business associates purchased what they thought was a vacant lot in Chicago, IL. After the transaction completed, my associates went to fence off the lot and discovered that it had been improved. Neither the seller or my associates were aware of this.
We have spoken with the company that built the structure and they are suggesting that we take another lot that they have available for compensation related to our troubles. Unfortunately, real estate is unique and isn't easily replaced or substituted.
What should we do?
1 Answer from Attorneys
Re: Unjust enrichment ramifications
Hello. I see you have quite a problem. You are
correct, real estate is unique. The existence
of this improvement on your property represents
an encroachment. In other words, the improvement
interferes with your property interest. If this
transaction was completed through a title company, the title company, in my opinion, must
bear responsible for failure to conduct an
adequate search of the property. Certainly, a
survey would have been in order. Absent the
involvement of a title company, I suggests that
you seek an injunction against the owners of
this improvement on your property. This kind
of relief is only available in the Chancery
Division of the Circuit of Cook County. You
would request that the owners of the improve-
ment remove the improvement to allow you full
and uninterrupted enjoyment of your property
rights. Since you consider this property unique,
you do not have an adequate remedy at law. For
this reason, the Chancery Court (Court of Equity)
is the place to begin the process of solving
this problem. I will be happy to answer any
additional questions that you might have.
Related Questions & Answers
-
Getting out How does one get thier house out of forecloser? Asked 6/15/06, 2:10 pm in United States Illinois Real Estate and Real Property