Illinois General Assembly - Bill Status for HB4892
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 Bill Status of HB4892  95th General Assembly


Short Description:  HOME BUYERS PROTECTN LIEN

House Sponsors
Rep. JoAnn D. Osmond

Last Action
DateChamber Action
  1/13/2009HouseSession Sine Die

Statutes Amended In Order of Appearance
New Act


Synopsis As Introduced
Creates new Act. Creates the Home Buyer's Protection Lien Act. Provides that a prospective purchaser of a residential dwelling unit in a residential development shall have a lien upon real estate or any interest in that real estate in the amount of his or her deposit advanced to the residential developer under a written instrument to purchase the dwelling unit. Provides that the lien attaches upon the prospective purchaser being otherwise entitled to possession or to receive a substantial benefit under a written instrument for the purchase of a residential dwelling unit and the prospective purchaser recording a notice of lien. Provides requirements for lien contents, serving the lien, filing an action on the lien within 2 years after recording the lien, pleadings, costs, release of lien, and other matters. Provides that prior recorded liens, mortgages, and valid mechanics lien claims have priority over a prospective purchaser's lien.

Actions 
DateChamber Action
  2/11/2008HouseFiled with the Clerk by Rep. JoAnn D. Osmond
  2/11/2008HouseFirst Reading
  2/11/2008HouseReferred to Rules Committee
  1/13/2009HouseSession Sine Die

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