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91_HB0813
LRB9104069PTpk
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 who desires to redeem and does not desire
28 to contest the validity of a petition for tax deed may redeem
29 pursuant to this Section and related Sections of this Code
30 without submitting a written protest under Section 21-380.
31 This subsection (b) shall be construed as declarative of
-2- LRB9104069PTpk
1 existing law and not as a new enactment.
2 (Source: P.A. 86-286; 86-413; 86-418; 86-949; 86-1028;
3 86-1158; 86-1481; 87-145; 87-236; 87-435; 87-895; 87-1189;
4 88-455.)