So, a few minutes ago, a Lake County sheriff’s deputy rang our doorbell. Apparently our landlord has another property in foreclosure and the deputy was inquiring if we knew how to contact him. He assured us that our property was OK as far as he knew, but that we should probably keep an eye on things.
Whoa. Well, that’s exciting. We just re-upped our lease effective a few days ago, so we’re kind of locked in here. A bit of googling led me to a useful reference, though: Illinois Public Act 095-0262, 735 ILCS 5/15-1701(h)(4) effective January 1, 2008, which states that
In a case of foreclosure where the tenant is current on his or her rent, any order of possession must allow the tenant to retain possession of the property covered in his or her rental agreement (i) for 120 days following the notice of the hearing on the supplemental petition that has been properly served upon the tenant, or (ii) through the duration of his or her lease, whichever is shorter.
Whew. So if I read this properly, the worst that would happen is that we would receive word that we’d need to move within four months. OK, I can deal with that. I’d rather not have to move for twelve months, of course but you take what life throws at you, I guess.