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| | 97TH GENERAL ASSEMBLY
State of Illinois
2011 and 2012
HB4420 Introduced 1/30/2012, by Rep. Michael J. Madigan SYNOPSIS AS INTRODUCED:
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Amends the Residential Real Property Disclosure Act. Makes a technical change
in a
Section concerning completion and delivery of the seller's disclosure
statement.
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| | A BILL FOR |
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| | HB4420 | | LRB097 15412 AJO 60512 b |
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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, |
| 3 | | represented in the General Assembly:
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| 4 | | Section 5. The Residential Real Property Disclosure Act is |
| 5 | | amended by changing Section 20 as follows:
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| 6 | | (765 ILCS 77/20)
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| 7 | | Sec. 20.
A seller of residential real property shall
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| 8 | | complete all applicable items in the
the disclosure document |
| 9 | | described in Section
35
of this Act. The seller shall deliver |
| 10 | | to the prospective buyer the written
disclosure statement |
| 11 | | required by this Act before the signing of a written
agreement |
| 12 | | by the seller and prospective buyer that would, subject to the
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| 13 | | satisfaction of any negotiated contingencies, require the |
| 14 | | prospective buyer to
accept a transfer of the residential real |
| 15 | | property. |
| 16 | | (Source: P.A. 88-111.)
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