Illinois Statutes
§ 1-23 — Compulsory sale
Illinois § 1-23
JurisdictionIllinois
TopicGOVERNMENT
Ch. 35REVENUE
Act 35 ILCS 200/Property Tax Code.
Art.Title 1 - General
This text of Illinois § 1-23 (Compulsory sale) is published on Counsel Stack Legal Research, covering Illinois primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
35 Ill. Comp. Stat. 1-23 (2026).
Text
"Compulsory sale" means (i) the sale of real estate for less than the amount owed to the mortgage lender or mortgagor, if the lender or mortgagor has agreed to the sale, commonly referred to as a "short sale" and (ii) the first sale of real estate owned by a financial institution as a result of a judgment of foreclosure, transfer pursuant to a deed in lieu of foreclosure, or consent judgment, occurring after the foreclosure proceeding is complete.
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Legislative History
(Source: P.A. 96-1083, eff. 7-16-10.)
Nearby Sections
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Short title§ 1-10
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§ 1-125§ 1-136
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Bluebook (online)
Illinois § 1-23, Counsel Stack Legal Research, https://law.counselstack.com/statute/il/35/1-23.