Toxic Titles: County Investigating Sale of ‘Zombie Properties’
“It’s going to be virtually impossible for her to ever gain true ownership of the property”
County Investigating Sale of ‘Zombie Properties’
The deeds which he has are the equivalent to junk/dummy deeds. The documents that he has don’t follow the chain of title…
CHICAGO (WLS) — The Cook County Recorder of Deeds office says “zombie properties” don’t have a proper owner with a valid deed, and can even be abandoned or up for demolition, but some try to take them over and sell them.
Pastor Lillie Taylor-Young has been making payments on a property to someone she thought was the owner. So far she has sunk $5,000 into the building in Chicago’s Pullman neighborhood.
“I’m working hard! I want this to be a proper banquet hall and I want this to be a place children can come,” Taylor-Young said.
However, the Cook County Recorder of Deed’s office says the man who appears to be selling it to her is not the valid owner.
“It’s going to be virtually impossible for her to ever gain true ownership of the property,” said Mario Reed, fraud investigator for the Cook County Recorder of Deed’s Office.
Reed said such a building is known as a “zombie property.”