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| | 97TH GENERAL ASSEMBLY
State of Illinois
2011 and 2012
SB1114 Introduced 2/8/2011, by Sen. John J. Cullerton SYNOPSIS AS INTRODUCED:
| | 765 ILCS 710/1.1 | from Ch. 80, par. 101.1 |
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Amends the Security Deposit Return Act. Makes a technical change in a Section
concerning a transferee's liability for a security deposit.
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| | A BILL FOR |
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| | SB1114 | | LRB097 04829 AJO 44868 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 Security Deposit Return Act is amended by |
| 5 | | changing Section 1.1 as follows:
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| 6 | | (765 ILCS 710/1.1) (from Ch. 80, par. 101.1)
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| 7 | | Sec. 1.1.
In the
the event of a sale, lease, transfer or |
| 8 | | other direct or indirect
disposition of residential real |
| 9 | | property, other than to the holder
of a lien interest in such |
| 10 | | property, by a lessor who has received a security
deposit or |
| 11 | | prepaid rent from a lessee, the transferee of such property |
| 12 | | shall
be liable to that lessee for any security deposit, |
| 13 | | including statutory interest,
or prepaid rent which the lessee |
| 14 | | has paid to the transferor. Transferor
shall remain jointly and |
| 15 | | severally liable with the transferee to the lessee
for such |
| 16 | | security deposit or prepaid rent. |
| 17 | | (Source: P.A. 81-1525.)
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