(35 ILCS 516/295)
Sec. 295.
Period of redemption.
Mobile homes sold under this Act may be
redeemed on or before the expiration of 2 years and 6 months from the date of
sale. If, however, the court that ordered the mobile home sold, upon the
verified petition of the holder of the certificate of
purchase brought within 4 months from the date of sale, finds and declares that
the mobile home is abandoned, then the court may order that the
mobile home may be redeemed at any time on or before the expiration of 1 year
from the date of sale. Notice of the hearing on a petition to declare the
mobile home abandoned shall be given to the owner or owners of the mobile home
and to the person in whose name the taxes were last assessed, by certified or
registered mail sent to their last known addresses at least 5 days before the
date of the hearing.
If the period of redemption has been extended by the certificate
holder as provided in Section 330, the mobile home may be redeemed on or before
the extended redemption date.
(Source: P.A. 92-807, eff. 1-1-03.)
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