


Section 5/9-104.1 of the CCP requires that a demand be served on the buyer giving at least 30 days to satisfy the demand before suit may be filed. Restoration of possession requires the use of the Illinois Forcible Entry and Detainer Act, which is contained in the Illinois Code of Civil Procedure (“CCP”). However, that does not put the contract seller back into possession of the property. The contract sale document will provide that after default and upon notice, the contract may be terminated and all prior payments forfeited. When a buyer defaults under the contract, the seller is faced with the problem of how to terminate the contract and get his property back. Instead, the parties execute a document under which the buyer agrees to make payments and to insure and maintain the property and the seller agrees when the seller has been paid as agreed, a deed will eventually be delivered. Under that form of transaction, the seller does not execute and record a deed when the transaction closes and possession of the property is transferred to the buyer. When a real estate seller is willing to finance his buyer’s purchase of the property being sold with a relatively small down payment, it is common for the transaction to proceed by what is called a contract sale or an installment contract for deed.
