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90_HB1826eng
35 ILCS 200/21-345
Amends the Property Tax Code. Provides that a person
redeeming property at a time subsequent to the filing of a
petition for tax and special assessment foreclosure
proceedings or a petition for deed who does not desire to
contest the validity of the petition may redeem the property
at any time before the expiration of the period or extended
period of redemption without filing a redemption under
protest. Requires the county clerk to enter the redemption
on the record and distribute the redemption money to the
holder of the certificate of purchase upon surrender of the
certificate. Effective immediately.
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1 AN ACT to amend the Property Tax Code by changing Section
2 21-345.
3 Be it enacted by the People of the State of Illinois,
4 represented in the General Assembly:
5 Section 5. The Property Tax Code is amended by changing
6 Section 21-345 as follows:
7 (35 ILCS 200/21-345)
8 Sec. 21-345. Right of redemption.
9 (a) Property sold under this Code may be redeemed only
10 by those persons having a right of redemption as defined in
11 this Section and only in accordance with this Code.
12 A right to redeem property from any sale under this Code
13 shall exist in any owner or person interested in that
14 property, other than an undisclosed beneficiary of an
15 Illinois land trust, whether or not the interest in the
16 property sold is recorded or filed. Any redemption shall be
17 presumed to have been made by or on behalf of the owners and
18 persons interested in the property and shall inure to the
19 benefit of the persons having the legal or equitable title to
20 the property redeemed, subject to the right of the person
21 making the redemption to be reimbursed by the persons
22 benefited. No redemption shall be held invalid by reason of
23 the failure of the person redeeming to have recorded or filed
24 the document evidencing an interest in the property prior to
25 redemption, other than an undisclosed beneficiary of an
26 Illinois land trust.
27 (b) Any person redeeming under this Section at a time
28 subsequent to the filing of a petition under Section 22-30 or
29 21-445, who does not desire to contest the validity of the
30 petition for tax deed, may redeem the property at any time
31 before the expiration of the period of redemption or extended
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1 period of redemption without filing a redemption under
2 protest. The county clerk shall enter the redemption as
3 provided in Section 21-230 and shall distribute the
4 redemption money deposited with the clerk to the holder of
5 the certificate of purchase upon surrender of the
6 certificate.
7 (Source: P.A. 86-286; 86-413; 86-418; 86-949; 86-1028;
8 86-1158; 86-1481; 87-145; 87-236; 87-435; 87-895; 87-1189;
9 88-455.)
10 Section 99. Effective date. This Act takes effect upon
11 becoming law.