(35 ILCS 516/430)
Sec. 430.
Failure to timely transfer certificate of title; tax certificate of title is void.
Unless the holder of the certificate purchased at any tax sale under this Act
transfers the certificate of title within one
year from and after the time for redemption expires, the certificate of
purchase or order for tax certificate of title,
and the sale on which it is based, shall, after the expiration of the one year
period, be absolutely void with no right to reimbursement. If the holder of
the certificate of purchase is prevented from obtaining a certificate of title
by injunction or
order of
any court, or by the refusal or inability of any court to act upon the
application for a tax certificate of title, or by the refusal of the Secretary
of State to
execute the same
certificate of title, the time he or she is so prevented shall be excluded from
computation of
the one year period. Certificates of purchase and orders for tax certificates
of title
executed by the court shall recite the qualifications required in this Section.
(Source: P.A. 92-807, eff. 1-1-03.)
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