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Region One warns trusteeship program remains exposed after title‑insurance changes; offers $1,300 option
Summary
Region One Planning Council told Boone County the trustee property program faces state‑level title‑insurance uncertainty after the Tyler v. Henipin County decision, but it has negotiated an option to obtain title insurance for buyers for $1,300 and described land‑bank tools for Candlewick Lake parcels.
Region One Planning Council staff told the Boone County Board on April 16 that the statewide market for title insurance has tightened following the Supreme Court decision in Tyler v. Henipin County, which raised questions for buyers of tax‑trustee properties.
Eric Setter, speaking for Region One, described a temporary lull in title companies willing to insure purchases that go through the tax‑deed process and said Region One has arranged with a title company to offer title insurance for properties purchased from the trustee program for a $1,300 fee. "We can offer anybody buying a property... title insurance for a $1,300 fee," he said, presenting that as a way to restore buyer confidence for higher‑value parcels.
Setter reviewed fiscal results and explained that earlier one‑time legal and trustee administrative charges (roughly $34,000 in the prior cycle) have cleared, and that incoming revenue from surplus‑property sales will improve the program's bottom line. He said Boone County has about 33 trustee‑owned parcels in inventory (many in Candlewick Lake) and that Region One and the land‑bank could be used to transfer parcels with conditions designed to encourage development.
County members discussed options including holding tax certificates rather than taking deeds in some cases, and potential state code changes to address the Tyler decision. Setter said Illinois lawmakers were expected to propose clarifying changes this spring; he did not claim a final resolution.
Region One presented the $1,300 title‑insurance option and recommended the county and local partners consider land‑bank incentives and deed restrictions to stimulate development on small trustee parcels.
