Bancroft Richman & Goldberg LLC
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Chicago, IL - 60603
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Condo foreclosure doesn't eliminate new owners' obligations to pay past owners' association fees, IL Supreme Court says
The Illinois Supreme Court has ruled unpaid condominium association assessments are not erased through foreclosure, unless the new owner forks over their first post-purchase assessment payment on time, otherwise they have to pick up the tab. The high court’s decision was delivered Dec. 3 by Justice Thomas Kilbride, with the rest of the court concurring.