Sec. 21-350. Period of redemption.
147 words·~1 min read·
/il/chapter-35/act-200/21-350A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Sec. 21-350. Period of redemption. Property sold under this Code may be redeemed at any time before the expiration of 2.5 years from the date of sale, except that:
(a)If on the date of sale the property is vacant non-farm property or property
containing an improvement consisting of a structure or structures with 7 or more residential units or that is commercial or industrial property, it may be redeemed at any time before the expiration of 1 year from the date of sale.
(b)(Blank).
(c)If the period of redemption has been extended by the certificate holder as provided
in Section 21-385 or Section 22-5, the property may be redeemed on or before the extended redemption date. The changes made to this Section by this amendatory Act of the 103rd General Assembly apply to matters concerning tax certificates issued on or after January 1, 2024.