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IL SB2230
Bill
AI Summary
- Amends the Property Tax Code to redefine "compulsory sale" to include short sales and foreclosure-related sales by financial institutions
- Includes sales of real estate for less than the amount owed to a mortgage lender or mortgagor when the lender or mortgagor has agreed to the sale
- Includes the first sale of real estate owned by a financial institution resulting from a foreclosure judgment, deed in lieu of foreclosure, or consent judgment after foreclosure proceedings are complete
- Specifies that compulsory sales are not limited by deed type
Legislative Description
PROP TX-COMPULSORY SALE
Last Action
Session Sine Die
1/13/2015
Committee Referrals
Rules5/10/2013
Property Tax5/2/2013
Revenue & Finance4/24/2013
Rules4/12/2013
Revenue3/5/2013
Assignments2/15/2013
Full Bill Text
No bill text available