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In Illinois forclosure, when does my name get removed from the property deed?

Joliet, IL |

And therefore, my obligation to pay the HoA fee's is done? I have heard 2 things.

1) Not until the bank that forclosed finds a new owner and actually SELLS it to them

2) After the forclosure process, when the bank takes ownership of the house and kicks you out.

I was led to believe it was option 1 because I've heard horror stories where peolpe get kicked out by bank, and then 3 years later get a court letter saying that need to show up to court because their property is not up to city code and they've come to find out that yes, the bank forclosed on it, but since they never sold it to anyone else, that owners name was still on the property.

Attorney Answers 4


The property is yours until it is sold and the deed is legally recorded by the new owner. You have all the rights And responsibilities of ownership until then.

This answer is intended as informational only, and does not constitute legal advice or form an attorney-client relationship between us.

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What is considered "sold"? When it goes to auction and no out outbids the mortgage company, and the mortgage company "wins" the auction. Is that sold? Or then after the auction, mortgage company wins, and they sell it to Mark and Mary Smith, 1 year later. Is it not until Mark and Mary sign the papers?


Generally, in Illinois, your name is removed from the deed to the property only after the foreclosure is completed and the property is sold. It may be sold at the foreclosure sale to the bank, or to someone else if that person bids on the property. Once the bank finishes the foreclosure and the sale is confirmed by the court, the bank becomes the owner, and is responsible for the condition of the property.

It is important to speak to an attorney experienced in foreclosure and bankruptcy to discuss the proper steps to take and your best options.

Daniel J. Winter
Offices in Chicago, Gurnee, Oak Lawn, and Skokie, IL

Any advice given is general in nature and cannot be relied upon until the client retains the attorney after a full interview and review of the facts of the situation. No attorney-client relationship exists until a retainer agreement is signed and fees are paid.

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The moment you are no longer recognized as the legal owner is after the County Sheriff issues a Sheriff's Deed to the bank or the highest bidder at the sale and the Sale is then confirmed by the Court.

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The HoA fees can be a huge burden when the property is in foreclosure especially if you already vacated the house. There are options you have to cutoff your payments to the hoa and save yourself some cash.

1) negotiate to give the property to the association. Most hoa attorneys and boards will be receptive to this. This will immediately cutoff your personal liability and convert it to a liability owed by the property instead.

2) If the hoa refuses find a competent attorney who can help you navigate the process to leave the hoa with no other option but to take the property back.

If you are walking away from the property there is no reason to keep paying find an attorney who can show you how. Here is a website i find helpful.

This is by no means legal advice in any way, nor on your particular matter. The above statement is an assessment of information based on general principles and legal expertise in the field. We strongly urge you speak to a qualified and competent attorney who can look at your matter in detail and advise on you on the best go forward course and strategy.

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