7.1 Sales of Real Estate in Chancery


(a) Officer to conduct sale - All judgments in Chancery directing sale of real estate shall designate a selling official to conduct such sale.

 

(b) Services of plaintiff's attorney - In all sales of real estate in Chancery, the attorney for the plaintiff, unless otherwise directed, shall prepare the appropriate documents and otherwise aid the Court and the Court-appointed selling official in carrying out the sale, which documents and services shall include (but not be limited to) the following:

 

(i) Preparation of the publication notice for sale and arranging for publication of such notice as required by law.

 

(ii) Preparation of a foreclosure estimate.

 

(iii) Preparation of the report of sale and distribution to be executed by the selling official.

 

(iv) Preparation of the certificate of sale in duplicate to be executed by the selling official as well as the selling official's deed or deeds, if needed.

 

(v) Preparation of orders for the approval of the report of sale and distribution and for deficiency judgment, if needed.

 

(c) Other services by plaintiff's attorney - In addition to the services above mentioned, the attorney for the plaintiff shall, prior to the date of sale, supply the selling official with:

 

(i) A certified copy of the judgment directing sale.

 

(ii) A certificate of publication of notice of sale.

 

(iii) A certificate showing mailing of copies of notice of sale to parties to the action, where applicable.

 

(iv) A foreclosure estimate.

 

(d) Records of fees and commissions on sales -

 

(i) The selling official shall prepare and keep on file in his/her office, open to inspection by the Court and other parties of interest, a full and complete record of all fees and commissions received by him/her by reason of sales conducted by him/her under authority of the judgment in Chancery, which record shall show the dates and amounts received, the title and number of the cases in which the sales were had, and the dates and amounts turned over by him/her to the county treasury. Upon request, the selling official shall furnish such information to the Chief Judge or Presiding Judge of the Chancery Division.

 

(ii) In the event surplus funds result from a sale of real estate pursuant to the provisions of the Illinois Mortgage Foreclosure Law (735 ILCS 5/15-1101 et seq.) conducted by a private sales corporation pursuant to court order, all such funds in the amount of $100.00 dollars or more are to be deposited by the private sales corporation with the Clerk of the Circuit Court to be held in an interest bearing account until further order of the Court or until otherwise disposed of pursuant to the statutes of the State of Illinois.

 

These surplus funds are to be deposited with the Clerk of the Circuit Court of Cook County not more than thirty(30) days from the date on which the sale takes place.

 

A report shall be filed annually with the Presiding Judge of the Chancery Division of the Circuit Court of Cook County on or before January 31 of the year following the calendar year for which the report is being made.

 

The report shall include the case number, the names of the plaintiff and defendant, the amount of surplus funds collected by the private sales corporation as well as the date of their deposit with the Clerk of the Circuit Court of Cook County. This report shall be under oath by an officer of the private sales corporation.

 

[Amended March 1, 1995, effective March 1, 1995.]

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