Tax lien Certificate to Tax Deed steps

Tax lien Certificate to Tax Deed steps

Investor · Member since 2018 · 47 posts · 19 votes

Hello,

I wanted to find out details about steps needed to get the Tax deeds after winning tax Lien certificates at an IL County Auction.

From what I understand so far is the steps below:

1) The rules and procedures are exactly the same for all counties in IL as it is a state law and does not change from county to county.  I am in Madison county IL.

2) After winning the tax certificate for a property, I have 4 months 15 days to send the Take Notice for "Notice of sale and redemption rights" to the county, so they can send the notices to the property owners.

If during the next 2.5 years, the owner redeems the property i get the money + interest back, but lets say they do not redeem the property.

3)  Within the last 6 -3 months of the expiration of the redemption period, I will file a petition at the circuit court for the tax deed

4)  At the same time, after filing the petition for deed, I will need to send "Notice of Expiration of period of Redemption" Take Notice to the county so they can mail it to the home owners and any interested parties informing them to redeem asap. 

5) I will subtax early the following taxes as soon as they are generated by the county. 

6) Inform the property owner in three ways, certified mail from the Circuit Court Clerk, being personally served by, the Sheriff’s office; and notice being published in a local newspaper.

7)If the taxes are not paid and the last date to redeem passes, the tax buyer can apply to the Circuit Court for an Order directing the County
Clerk’s office to issue a tax deed to the tax buyer. The tax buyer then records that deed in the Recorder of Deeds’ office, and becomes the new
owner of the property.

Is there any step I am missing or wrong about? I understand there are steps like subbing the taxes every time new tax bills are generated and sending the notices in a specific format as well but the county can help with.

I appreciate the help. 

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  • Realtor · Chicago, IL · Member since 2014 · 29 posts · 12 votes
    2y

    I'm in Cook County, so it's most likely a bit different, but in my experience, steps 2 and 6 are the ones that most tax buyers get lost on. At least up here, service is VERY important and VERY complicated, so you and/or your attorney need to make sure that you cover all the bases. 

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