In the case of Wing Street CA v. Kiss the Chef, LLC, the Illinois Supreme Court will review an issue pertinent to the collection of up to six months of a foreclosed owner’s assessments from a subsequent purchaser under Section 9(g)(4) of the Illinois Condominium Property Act. Under 9(g)(4), if the Association initiates collection activity against an owner in foreclosure, then a third-party who purchases at the sheriff’s foreclosure sale, or the third-party who purchases from the bank (mortgagee) after foreclosure, becomes liable for payment of up to six months of the foreclosed owner’s delinquent assessments that were due and unpaid at the time the collection action was initiated against the foreclosed owner. Read the article………….
No two communities are identical; each community has various factors which influence what type of…
Tenants in condominium communities are often viewed as challenging, since they may not be familiar…
When Ken Baker purchased his home in Timber Springs in 2022, he was glad to…
Many associations struggle with a poor manager relationship, resulting in frustration for both sides. However,…
Homeowner associations in Dubai have started to receive approvals from RERA to use their emergency/reserve…
New York City has never been particularly cheap, and annual insurance costs make living in…