HB2833 103RD GENERAL ASSEMBLY

LRB103 29909 LNS 56321 b

103RD GENERAL ASSEMBLY
State of Illinois
2023 and 2024
HB2833

Introduced 2/16/2023, by Rep. Lindsey LaPointe

SYNOPSIS AS INTRODUCED:

765 ILCS 605/3

from Ch. 30, par. 303

Amends the Condominium Property Act. Makes a technical change in a Section pertaining to the submission of property to the provisions of the Act.

A BILL FOR

AN ACT concerning civil law.

Be it enacted by the People of the State of Illinois, represented in the General Assembly:

Section 5. The Condominium Property Act is amended by changing Section 3 as follows:

(765 ILCS 605/3) (from Ch. 30, par. 303)

Sec. 3. Submission of property. Whenever the the owner or owners in fee simple, or the sole lessee or all lessees of a lease described in item (x) of Section 2, of a parcel intend to submit such property to the provisions of this Act, they shall do so by recording a declaration, duly executed and acknowledged, expressly stating such intent and setting forth the particulars enumerated in Section 4. If the condominium is a leasehold condominium, then every lessor of the lease creating a leasehold interest as described in item (x) of Section 2 shall also execute the declaration and such lease shall be recorded prior to the recording of the declaration.

The execution of a declaration required under this Section by the lessor under a lease as described in item (x) of Section 2 does not make the lessor a developer for purposes of this Act.

(Source: P.A. 93-474, eff. 8-8-03.)