102ND GENERAL ASSEMBLY
State of Illinois
2021 and 2022
HB3989

 

Introduced 3/4/2021, by Rep. Curtis J. Tarver, II

 

SYNOPSIS AS INTRODUCED:
 
765 ILCS 77/5

    Amends the Residential Real Property Disclosure Act. Changes the definition of "seller" by deleting language providing that "seller" shall not include any person who has both (i) never occupied the residential real property and (ii) never had the management responsibility for the residential real property nor delegated such responsibility for the residential real property to another person or entity.


LRB102 16893 LNS 22304 b

 

 

A BILL FOR

 

HB3989LRB102 16893 LNS 22304 b

1    AN ACT concerning civil law.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Residential Real Property Disclosure Act is
5amended by changing Section 5 as follows:
 
6    (765 ILCS 77/5)
7    Sec. 5. Definitions. As used in this Act, unless the
8context otherwise requires, the following terms have the
9meaning given in this Section.
10    "Residential real property" means real property improved
11with not less than one nor more than 4 residential dwelling
12units; units in residential cooperatives; or, condominium
13units, including the limited common elements allocated to the
14exclusive use thereof that form an integral part of the
15condominium unit. The term includes a manufactured home as
16defined in subdivision (53) of Section 9-102 of the Uniform
17Commercial Code that is real property as defined in the
18Conveyance and Encumbrance of Manufactured Homes as Real
19Property and Severance Act.
20    "Seller" means every person or entity who is an owner,
21beneficiary of a trust, contract purchaser or lessee of a
22ground lease, who has an interest (legal or equitable) in
23residential real property. However, "seller" shall not include

 

 

HB3989- 2 -LRB102 16893 LNS 22304 b

1any person who has both (i) never occupied the residential
2real property and (ii) never had the management responsibility
3for the residential real property nor delegated such
4responsibility for the residential real property to another
5person or entity.
6    "Prospective buyer" means any person or entity negotiating
7or offering to become an owner or lessee of residential real
8property by means of a transfer for value to which this Act
9applies.
10(Source: P.A. 98-749, eff. 7-16-14; 99-78, eff. 7-20-15.)