Last week, the Supreme Court of the State of Illinois has just affirmed the trial court decision in the case of 1010 Lake Shore Ass’n v. Deutsche Bank National Trust Co.
The defendant, Deutsche Bank National Trust Co., purchased a condominium unit in 2010 at a judicial foreclosure sale. In March of 2012, the plaintiff, 1010 Lake Shore Association, demanded payment for common expenses on the unit, which the defendant refused to pay. The Association then moved to sue the bank in pursuit of the payment, arguing that there were no questions regarding the amount owed and the bank’s failure to pay. Citing section 9 of the Condominium Property Act, they affirmed that liens against the property for the previous owner’s unpaid assessments had not been eliminated because the bank failed to pay all expenses that accrued after the sale.
Deutsche Bank, however, argued that they could not be held liable under section 9 for the previous owner’s failure to pay the assessments. At the hearing, the judge ruled in favor of the plaintiff, who was subsequently awarded possession of the property. Deutsche Bank appealed, claiming that the court misconstrued section 9 of the Act, and reiterating their belief that they were only responsible for common expenses that accrued after the sale, not before. The Supreme Court found no error in the trial court’s judgement and reaffirmed their decision.
To read the original court opinion document, please click here.
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