Property law — takings assertion, foreclosure

Posted August 28, 2018 10:42 AM

Where a forest preserve district foreclosed on a note for an estate it purchased from a lender and then subsequently bought the estate at the foreclosure sale, no unconstitutional taking occurred.The 7th U.S. Circuit Court of Appeals affirmed a decision by U.S. District Judge Sara L. Ellis.In 2006, Meryl Squires-Cannon and Richard Kirk Cannon purchased a 400-acre estate and horse farm in far northwest suburban Barrington. The couple bought the property through two wholly owned limited liability companies, Royalty …

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