(Modified upon denial of rehearing 5/5/17.) After bank acquired condo unit through foreclosure sale, Condo Association filed forcible entry and detainer action against bank for possession of unit, alleging that payments bank remitted to Association for post-sale common expenses after foreclosure sale were untimely. Section 9(g)(3) of Condominium Property Act is designed to encourage prompt payment of post-sale expenses, by setting their payment as a precondition to extinguishment of association liens for pre-sale expenses. Bank, within 16 months of judicial sale, fully paid amounts it owed for unit's post-sale common expenses, and thereby confirmed the extinguishment of Association's lien for pre-sale common expenses, and with it any entitlement to recovery possessed by Association. Thus, bank was entitled to summary judgment.(HOFFMAN and ROCHFORD, concurring).
Illinois Appellate Court
Civil Court
Condominium Property Act