Illinois Real Estate Practice Exam

What type of sale can be enforced by the county collector if property taxes have not been paid by the due date of the second installment?

1. Equitable Lien

2. Forfeiture Sale

3. Priority Of Liens

4. Tax Sale

The correct answer is: Tax Sale

The correct answer is tax sale. In Illinois, when property taxes are not paid by the due date of the second installment, the county collector has the authority to enforce a tax sale. This process allows the county to sell the property at auction to recover the unpaid taxes, ensuring that local governments receive the revenue necessary to fund essential services like schools, roads, and public safety. The tax sale serves as a way for the government to reclaim the delinquent tax revenue by transferring ownership or a lien on the property to a new buyer or investor. The buyer typically pays the outstanding taxes, and in return, they may receive certain rights to the property if the previous owner does not redeem it by paying the owed taxes and penalties within a specified timeframe. In contrast, the other options involve different legal concepts that do not directly relate to the enforcement of unpaid property taxes through a sale. For instance, an equitable lien is a legal right against specific property to secure the payment of a debt, but it does not involve a sale driven specifically by property tax delinquency. A forfeiture sale typically pertains to situations where a property is taken without compensation, often due to criminal activity or breach of regulations, rather than unpaid taxes. Finally, priority of liens addresses the order in