Your Source for Free Tax Lien Information
Illinois has two types of tax sales. The regular system pays 18%. The other system is called the ‘Sacavenger Act’ pays 24% interest per year.
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Unlike personal debts, tax liens on real estate "run with the land"; that is, a property owner becomes responsible for payment even if the tax obligation was incurred by a prior owner. Depending on the law of the state or jurisdiction, the owner of the property may also be personally liable for payment of the taxes.
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