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1 | AN ACT concerning civil law.
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2 | Be it enacted by the People of the State of Illinois,
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3 | represented in the General Assembly:
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4 | Section 5. The Residential Real Property Disclosure Act is | ||||||
5 | amended by changing Sections 5, 15, 20, 30, 35, 40, 45, 50, 55, | ||||||
6 | and 65 as follows:
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7 | (765 ILCS 77/5)
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8 | Sec. 5. Definitions. As used in this Act, unless the | ||||||
9 | context otherwise
requires, the
following terms have the | ||||||
10 | meaning given in this Section : .
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11 | "Residential real property" means real property improved | ||||||
12 | with not less
than one nor more than 4 residential dwelling | ||||||
13 | units; units in residential
cooperatives; or, condominium | ||||||
14 | units, including the limited common elements
allocated to the | ||||||
15 | exclusive use thereof that form an integral part of the
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16 | condominium unit. The term includes a manufactured home as | ||||||
17 | defined in subdivision (53) of Section 9-102 of the Uniform | ||||||
18 | Commercial Code that is real property as defined in the | ||||||
19 | Conveyance and Encumbrance of Manufactured Homes as Real | ||||||
20 | Property and Severance Act.
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21 | "Seller" means every person or entity who : | ||||||
22 | (1) is a beneficiary of an Illinois land trust; or | ||||||
23 | (2) has an interest, legal or equitable, in |
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1 | residential property as: | ||||||
2 | (i) an owner ; , | ||||||
3 | (ii) a beneficiary of a
trust ; , | ||||||
4 | (iii) a beneficiary pursuant to testate | ||||||
5 | disposition, intestate succession, or a transfer on | ||||||
6 | death instrument; or | ||||||
7 | (iv) a contract purchaser or lessee of a ground | ||||||
8 | lease ,
who has an interest (legal or equitable) in | ||||||
9 | residential real property.
However, "seller" shall not | ||||||
10 | include
any person who has both (i) never occupied the | ||||||
11 | residential real property and
(ii) never had the | ||||||
12 | management responsibility for the residential real | ||||||
13 | property
nor delegated such responsibility for the | ||||||
14 | residential real property to another
person or entity . | ||||||
15 | "Seller" does not include a party to a transfer that is | ||||||
16 | exempt under Section 15.
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17 | "Prospective buyer" means any person or entity negotiating | ||||||
18 | or offering
to become an owner or lessee of a ground lease of | ||||||
19 | residential real property by means of a
transfer for value to | ||||||
20 | which this Act applies. | ||||||
21 | "Contract" means a written agreement by the seller and | ||||||
22 | prospective buyer that would, subject to the satisfaction of | ||||||
23 | any negotiated contingencies, require the prospective buyer to | ||||||
24 | accept a transfer of the residential real property.
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25 | (Source: P.A. 98-749, eff. 7-16-14; 99-78, eff. 7-20-15.)
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1 | (765 ILCS 77/15)
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2 | Sec. 15. Seller exemptions. The provisions of this Act do | ||||||
3 | not apply to the following:
A seller in any of the following | ||||||
4 | transfers is exempt from this Act, regardless of whether a | ||||||
5 | disclosure report is delivered:
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6 | (1) Transfers pursuant to court order, including, but not
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7 | limited to, transfers ordered by a probate court in | ||||||
8 | administration of an
estate, transfers between spouses | ||||||
9 | resulting from a judgment of dissolution of
marriage or legal | ||||||
10 | separation, transfers pursuant to an order of possession,
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11 | transfers by a trustee in bankruptcy, transfers by eminent | ||||||
12 | domain, and
transfers resulting from a decree for specific | ||||||
13 | performance.
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14 | (2) Transfers from a mortgagor to a mortgagee by deed in | ||||||
15 | lieu of
foreclosure or consent judgment, transfer by judicial | ||||||
16 | deed issued pursuant to a
foreclosure sale to the successful | ||||||
17 | bidder or the assignee of a certificate of
sale, transfer by a | ||||||
18 | collateral assignment of a beneficial interest of a land
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19 | trust, or a transfer by a mortgagee or a successor in interest | ||||||
20 | to the
mortgagee's secured position or a beneficiary under a | ||||||
21 | deed in trust who has
acquired the real property
by deed in | ||||||
22 | lieu of foreclosure, consent judgment or judicial deed issued
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23 | pursuant to a foreclosure sale.
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24 | (3) Transfers by a fiduciary in the course of the | ||||||
25 | administration of a
decedent's estate, guardianship, | ||||||
26 | conservatorship, or trust. As used in this paragraph, "trust" |
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1 | includes an Illinois land trust.
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2 | (4) Transfers from one co-owner to one or more other | ||||||
3 | co-owners.
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4 | (5) Transfers from a decedent pursuant to testate | ||||||
5 | disposition, or intestate succession , or a transfer on death | ||||||
6 | instrument .
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7 | (6) Transfers made to a spouse, or to a person or persons
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8 | in the lineal line of consanguinity of one or more of the | ||||||
9 | sellers.
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10 | (7) Transfers from an entity that has taken title to
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11 | residential real property from a seller for the purpose of | ||||||
12 | assisting
in the relocation of the seller, so long as the | ||||||
13 | entity
makes available to all prospective buyers a copy of the | ||||||
14 | disclosure report form
furnished to the entity by the seller.
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15 | (8) Transfers to or from any governmental entity.
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16 | (9) Transfers of newly constructed residential real | ||||||
17 | property that has never not
been occupied. This does not | ||||||
18 | include rehabilitation of existing residential real property.
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19 | (Source: P.A. 88-111.)
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20 | (765 ILCS 77/20)
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21 | Sec. 20. Disclosure report requirements. A seller of | ||||||
22 | residential real property shall
complete all applicable items | ||||||
23 | in the disclosure report document described in Section
35
of | ||||||
24 | this Act . The seller shall deliver to the prospective buyer | ||||||
25 | the written
disclosure report statement required by this Act |
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1 | before the signing of a contract written
agreement by the | ||||||
2 | seller and prospective buyer that would, subject to the
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3 | satisfaction of any negotiated contingencies, require the | ||||||
4 | prospective buyer to
accept a transfer of the residential real | ||||||
5 | property .
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6 | (Source: P.A. 88-111.)
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7 | (765 ILCS 77/30)
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8 | Sec. 30. Disclosure report supplement. If, prior to | ||||||
9 | closing, any seller becomes aware has
actual knowledge of an | ||||||
10 | error, inaccuracy, or omission in any prior disclosure report | ||||||
11 | or supplement
document after delivery of that disclosure | ||||||
12 | report or supplement document to a prospective buyer,
that | ||||||
13 | seller shall supplement the prior disclosure report or | ||||||
14 | supplement document with a written
supplemental disclosure , | ||||||
15 | delivered by any method set forth in Section 50 .
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16 | (Source: P.A. 90-383, eff. 1-1-98; 91-357, eff. 7-29-99.)
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17 | (765 ILCS 77/35)
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18 | Sec. 35. Disclosure report form. The disclosures required | ||||||
19 | of a seller
by this Act shall be made in the following form:
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20 | RESIDENTIAL REAL PROPERTY DISCLOSURE REPORT
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21 | NOTICE: THE PURPOSE OF THIS REPORT IS TO PROVIDE | ||||||
22 | PROSPECTIVE BUYERS WITH
INFORMATION ABOUT MATERIAL DEFECTS IN | ||||||
23 | THE RESIDENTIAL REAL PROPERTY BEFORE THE SIGNING OF A | ||||||
24 | CONTRACT . THIS
REPORT DOES NOT LIMIT THE PARTIES' RIGHT TO |
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1 | CONTRACT FOR THE SALE OF
RESIDENTIAL
REAL PROPERTY IN "AS IS" | ||||||
2 | CONDITION. UNDER COMMON LAW, SELLERS WHO DISCLOSE
MATERIAL | ||||||
3 | DEFECTS MAY BE UNDER A CONTINUING OBLIGATION TO ADVISE THE | ||||||
4 | PROSPECTIVE
BUYERS ABOUT THE CONDITION OF THE RESIDENTIAL REAL | ||||||
5 | PROPERTY EVEN AFTER THE
REPORT IS DELIVERED TO THE PROSPECTIVE | ||||||
6 | BUYER. COMPLETION OF THIS REPORT BY
THE
SELLER CREATES LEGAL | ||||||
7 | OBLIGATIONS ON THE SELLER; THEREFORE THE
SELLER MAY WISH TO | ||||||
8 | CONSULT
AN ATTORNEY PRIOR TO COMPLETION OF THIS REPORT.
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9 | Property Address: ...........................................
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10 | City, State & Zip Code: .....................................
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11 | Seller's Name: ..............................................
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12 | This Report is a disclosure of certain conditions of the | ||||||
13 | residential real
property listed above in compliance with the | ||||||
14 | Residential Real Property
Disclosure Act. This information is | ||||||
15 | provided as of ...(month) ...(day)
...(year) , and does not | ||||||
16 | reflect any changes made or occurring after that date
or | ||||||
17 | information that becomes known to the seller after that date . | ||||||
18 | The
disclosures herein shall not be deemed warranties of any | ||||||
19 | kind by the seller or
any person representing any party in this | ||||||
20 | transaction.
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21 | In this form, " am aware" means to have actual notice or
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22 | actual knowledge without any specific investigation or | ||||||
23 | inquiry.
In this form, "material defect" means a condition | ||||||
24 | that would
have a substantial adverse effect on the value of | ||||||
25 | the residential
real property or that would significantly | ||||||
26 | impair the health or
safety of future occupants of the |
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1 | residential real property
unless the seller reasonably | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2 | believes that the condition has
been corrected.
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3 | The seller discloses the following information with the
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4 | knowledge that even though the statements herein are not | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
5 | deemed
to be warranties, prospective buyers may choose to rely | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
6 | on
this information in deciding whether or not and on what | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
7 | terms
to purchase the residential real property.
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8 | The seller represents that to the best of his or her actual
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9 | knowledge, the following statements have been accurately noted
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10 | as "yes" (correct), "no" (incorrect), or "not applicable" to | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11 | the
property being sold. If the seller indicates that the | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
12 | response
to any statement, except number 1, is yes or not | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
13 | applicable, the
seller shall provide an explanation , in the | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
14 | additional information
area of this form.
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18 | Note: These disclosures are not intended to cover the | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
19 | common
elements of a condominium, but only the actual | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
20 | residential real
property including limited common elements | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
21 | allocated to the
exclusive use thereof that form an integral | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
22 | part of the
condominium unit.
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23 | Note: These disclosures are intended to reflect the | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
24 | current condition of
the premises and do not include previous | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
25 | problems, if any, that the seller
reasonably believes have | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
26 | been corrected.
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1 | If any of the above are marked "not applicable" or "yes", | ||||||
2 | please explain here
or use additional pages, if necessary:
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3 | .............................................................
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4 | .............................................................
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5 | .............................................................
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6 | Check here if additional pages used: .....
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7 | Seller certifies that seller has prepared this report | ||||||
8 | statement and
certifies that the information provided is based | ||||||
9 | on the actual
notice or actual knowledge of the seller without | ||||||
10 | any specific
investigation or inquiry on the part of the | ||||||
11 | seller. The seller
hereby authorizes any person representing | ||||||
12 | any principal in this
transaction to provide a copy of this | ||||||
13 | report, and to disclose
any information in the report, to any | ||||||
14 | person in connection
with any actual or anticipated sale of | ||||||
15 | the property. | ||||||
16 | (This paragraph shall be printed in boldface type.) THE | ||||||
17 | SELLER ACKNOWLEDGES THAT THE SELLER IS REQUIRED TO PROVIDE | ||||||
18 | THIS DISCLOSURE REPORT TO THE PROSPECTIVE BUYER BEFORE THE | ||||||
19 | SIGNING OF THE CONTRACT AND HAS A CONTINUING OBLIGATION, | ||||||
20 | PURSUANT TO SECTION 30 OF THE RESIDENTIAL REAL PROPERTY | ||||||
21 | DISCLOSURE ACT, TO SUPPLEMENT THIS DISCLOSURE PRIOR TO | ||||||
22 | CLOSING.
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23 | Seller: ............................... Date: ...............
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24 | Seller: ............................... Date: ...............
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25 | THE PROSPECTIVE BUYER IS AWARE THAT THE PARTIES MAY CHOOSE
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26 | TO NEGOTIATE AN AGREEMENT FOR THE SALE OF THE PROPERTY SUBJECT |
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1 | TO
ANY OR ALL MATERIAL DEFECTS DISCLOSED IN THIS REPORT ("AS | ||||||
2 | IS").
THIS DISCLOSURE IS NOT A SUBSTITUTE FOR ANY INSPECTIONS | ||||||
3 | OR WARRANTIES
THAT THE PROSPECTIVE BUYER OR SELLER MAY WISH TO | ||||||
4 | OBTAIN
OR NEGOTIATE. (The remainder of this paragraph shall be | ||||||
5 | printed in boldface type.) THE FACT THAT THE SELLER IS NOT | ||||||
6 | AWARE OF A PARTICULAR
CONDITION OR PROBLEM IS NO GUARANTEE | ||||||
7 | THAT IT DOES NOT EXIST.
THE PROSPECTIVE BUYER IS AWARE THAT THE | ||||||
8 | PROSPECTIVE BUYER HE MAY REQUEST AN INSPECTION OF
THE PREMISES | ||||||
9 | PERFORMED BY A QUALIFIED PROFESSIONAL.
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10 | Prospective Buyer: .................. Date: ...... Time: ....
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11 | Prospective Buyer: .................. Date: ...... Time: ....
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12 | (Source: P.A. 98-754, eff. 1-1-15 .)
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13 | (765 ILCS 77/40)
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14 | Sec. 40. Material defect. | ||||||
15 | (a) If a seller discloses a material defect in the | ||||||
16 | Residential Real Property Disclosure Report, including a | ||||||
17 | response to any statement that is answered "yes" except | ||||||
18 | numbers 1 and 2, and, in violation of Section 20, it is | ||||||
19 | delivered to the prospective buyer after all parties have | ||||||
20 | signed a contract, the prospective buyer, within 5 business | ||||||
21 | days after receipt of that report, may terminate the contract | ||||||
22 | or other agreement with the return of all earnest money | ||||||
23 | deposits or down payments paid by the prospective buyer in the | ||||||
24 | transaction without any liability to or recourse by the | ||||||
25 | seller. If a material defect is disclosed in the
Residential
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1 | Real Property Disclosure Report, after acceptance by the | ||||||
2 | prospective
buyer of an offer or counter-offer made by a | ||||||
3 | seller or after
the execution of an offer made by a prospective | ||||||
4 | buyer that
is accepted by the seller for the conveyance of the | ||||||
5 | residential
real property, then the prospective buyer may, | ||||||
6 | within 3
business days after receipt of that report by the | ||||||
7 | prospective
buyer, terminate the contract or other agreement | ||||||
8 | without any
liability or recourse except for the return to | ||||||
9 | prospective buyer
of all earnest money deposits or down | ||||||
10 | payments paid by prospective buyer in the
transaction. | ||||||
11 | (b) If a seller discloses a material defect is disclosed | ||||||
12 | in a supplement to this
disclosure report document , the | ||||||
13 | prospective buyer shall not have a right to terminate
unless : | ||||||
14 | (i) the material defect results from an error, inaccuracy, or | ||||||
15 | omission of
which the seller had actual knowledge at the time | ||||||
16 | the prior
disclosure document was completed and signed by the | ||||||
17 | seller ; (ii) the material defect is not repairable prior to | ||||||
18 | closing; or (iii) the material defect is repairable prior to | ||||||
19 | closing, but within 5 business days after the delivery of the | ||||||
20 | supplemental disclosure, the seller declines, or otherwise | ||||||
21 | fails to agree in writing, to repair the material defect . | ||||||
22 | (c) The right to
terminate the contract, however, shall no | ||||||
23 | longer
exist after the conveyance of the residential real | ||||||
24 | property. For purposes of
this Act the termination shall be | ||||||
25 | deemed to be made when written notice of
termination is | ||||||
26 | personally delivered to at least one of the sellers by any |
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1 | method set forth in Section 50, at the contact information | ||||||
2 | provided by any seller or indicated in the contract or other | ||||||
3 | agreement. Nothing in subsection (a) or (b) shall limit the | ||||||
4 | remedies available under the contract or Section 55 identified
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5 | in the contract or other agreement or when deposited, | ||||||
6 | certified or registered
mail, with the United States Postal | ||||||
7 | Service, addressed to one of the sellers at
the address | ||||||
8 | indicated in the contract or agreement, or, if there is not an
| ||||||
9 | address contained therein, then at the address indicated for | ||||||
10 | the residential
real property on the report .
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11 | (Source: P.A. 90-383, eff. 1-1-98.)
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12 | (765 ILCS 77/45)
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13 | Sec. 45. Other law. This Act is not intended to limit | ||||||
14 | remedies or modify
any obligation to disclose created by any | ||||||
15 | other statute or that
may exist in common law in order to avoid | ||||||
16 | fraud, misrepresentation, or deceit
in the transaction.
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17 | (Source: P.A. 88-111.)
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18 | (765 ILCS 77/50)
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19 | Sec. 50. Delivery of disclosure report. Delivery of the | ||||||
20 | Residential Real Property Disclosure
Report provided by this | ||||||
21 | Act shall be by:
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22 | (1) personal delivery or facsimile , email, or other | ||||||
23 | electronic delivery to the prospective buyer at the | ||||||
24 | contact information provided by the prospective buyer or |
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1 | indicated in the contract or other agreement ;
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2 | (2) depositing the report with the United States | ||||||
3 | Postal Service,
postage prepaid, first class mail, | ||||||
4 | addressed to the
prospective buyer at the address provided | ||||||
5 | by the prospective
buyer or indicated on the contract or | ||||||
6 | other agreement; or
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7 | (3) depositing the report with an alternative delivery | ||||||
8 | service such as
Federal Express or , UPS, or Airborne, | ||||||
9 | delivery charges prepaid, addressed to the
prospective | ||||||
10 | buyer at the address provided by the prospective buyer or | ||||||
11 | indicated
on the contract or other agreement.
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12 | For purposes of this Act, delivery to one prospective | ||||||
13 | buyer is
deemed delivery to all prospective buyers. Delivery | ||||||
14 | to an authorized
individual acting on behalf of a prospective | ||||||
15 | buyer constitutes delivery to
all prospective buyers. Delivery | ||||||
16 | of the report is effective upon receipt
by the prospective | ||||||
17 | buyer. Receipt may be acknowledged on the report,
acknowledged | ||||||
18 | in an
agreement for the conveyance of the residential real | ||||||
19 | property, or shown in any
other verifiable manner.
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20 | (Source: P.A. 91-357, eff. 7-29-99.)
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21 | (765 ILCS 77/55)
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22 | Sec. 55. Violations and damages. If the seller fails or | ||||||
23 | refuses to
provide the disclosure report document prior to the | ||||||
24 | conveyance of the residential
real
property, the prospective | ||||||
25 | buyer shall have the right to terminate the contract. A seller |
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1 | person
who knowingly violates or fails to perform any duty | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2 | prescribed by
any provision of this Act or who discloses any | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
3 | information on
the Residential Real Property Disclosure Report | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
4 | that the seller he knows to
be false shall be liable in the | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
5 | amount of actual damages and
court costs, and the court may | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
6 | award reasonable attorney's attorney fees
incurred by the | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
7 | prevailing party.
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8 | (Source: P.A. 90-383, eff. 1-1-98.)
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9 | (765 ILCS 77/65)
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10 | Sec. 65.
A copy of Sections 5 through 65 of Article 2 of | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11 | this Act, excluding Section 35, must
be printed on or as a part | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
12 | of the Residential Real Property
Disclosure Report form.
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13 | (Source: P.A. 88-111.)
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14 | Section 99. Effective date. This Act takes effect upon | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
15 | becoming law.
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