Hello everyone today I'm gonna tell you the truth about Illinois tax lien certificates if you want more information visit my website at www.texaslatina.com so you'll see here that the state of Illinois pays out a maximum of 36 percent interest per year on tax lien certificates okay but I buy my tax liens after the auction those are called over the counter when you buy on that way the maximum you can earn is twenty four percent interest per year and those are paid out in the form of penalties next question Heidi decide was County well I used three criteria and I use these three criteria to choose cane County the first criteria is you look for above average median household incomes for accounting the second thing I look for is above average median value of the owner-occupied housing and the third thing I look for in a county is below average poverty so once you decide was county the next thing you knew you need is a property list or a tax lien list so you can go to IL tax Elcom and this website gives you a list of all the counties you can purchase from and just note each list cost twenty-five dollars so be careful you want to make sure you purchase a list that has a lot of potential liens so this is an actual tax lien list from cane County you'll notice it gives you the tax year the certificate number the most important thing on this list is the parcel ID and also the tax sale date now you want to look at properties that are the most current or most recent remember if there's a property that's old and it's still on the list there's a reason why it's here...
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Illinois lien law summary Form: What You Should Know
A complete record of the mileage must be kept. “Motor Vehicle Liens and Removals” “The owner of an automobile or other motor vehicle shall provide insurance covering damage caused by the use of the automobile or other motor vehicle and shall maintain a true and accurate driving record of the time spent on the roadway.” Illinois Statutes 657 ILLS 607-1(b)(4). Federal statute requires that a vehicle be titled before the repair or maintenance of the vehicle, as prescribed by the Internal Revenue Code. However, the insurance provided by the owner of the vehicle is not required to be maintained as long as the owner pays the required amount for repairs or costs incurred when the vehicle is inoperable. The owner must maintain the insurance policy in the event of a loss and may use the insurance as a security for any liens or encumbrances that may become due upon the transfer of ownership. [1] This bill permits the owner and motor vehicle lessee of a vehicle to agree to have an insurance policy issued by the owner of the vehicle to cover any loss or damage caused by the use of the vehicle by a person other than the owner or lessee while such person is operating the vehicle. State Law on Insurance Covenants with an Implied Lien If an insurance company, under whose insurance plan a deed, contract, or similar instrument is created, is aware of a judgment or lien that attaches to a vehicle, the insurance company may include the judgment clause or lien clause in its policy by disclosing the judgment clause or lien clause to the lie nor. The disclosure shall be in accordance with the requirements of Chapter 7 of Article VIII of the Illinois Insurance Code. The disclosure shall not be made until after the lie nor commences possession of the vehicle for which the judgment clause or lien clause relates. State Law on Automobile Insurance The Insurance Code of Illinois allows an insurance lien holder to claim for insurance and repair costs on a motor vehicle when insured against loss to a person, without regard to whether the person actually drives or is in actual physical control of the vehicle. The insurance company must make good its loss by offering the lien holder all reasonable and available benefits.
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