§ 19-5

Illinois § 19-5

• Jurisdiction: Illinois
• Topic: RIGHTS AND REMEDIES
• Ch. 755: ESTATES
• Act 755 ILCS 5/: Probate Act of 1975.
• Art.: Article XIX - Administration of Personal Estate

Text

Order of sale.) (a) The court shall provide in its order of sale whether the sale shall be public or private. (b) A public sale shall be for cash or wholly or partly upon credit of not more than 12 months by taking a note with good security, as the court directs. The court shall direct that notice of a public sale be given by either of the following methods: (1) inserting a notice or advertisement of sale in a newspaper published in the county where the sale is to be made not less than once nor more than 3 times, as the court directs, the first publication to be not less than 5 nor more than 21 days before the date of sale, or (2) posting a notice or advertisement of sale in at least 4 public places in the county where the sale is to be made for a period specified by the court of not less than 5 nor more than 21 days before the date of sale. (c) If the court orders a public sale of both personal and real estate the notice of public sale may be given as provided in Section 20-7 and both types of property shall be included in the same publication notice. (d) A private sale shall be for cash or wholly or partly upon credit with or without security, as the court directs. (e) In all public sales of personal estate the representative may employ necessary clerks and auctioneers who shall receive such compensation as the court deems reasonable, to be paid as expenses of administration.

Legislative History

(Source: P.A. 79-328.)