(765 ILCS 77/15)
Sec. 15. Seller exemptions.
A seller in any of the following transfers is exempt from this Act, regardless of whether a disclosure report is delivered:
(1) Transfers pursuant to court order, including, but |
| not limited to, transfers ordered by a probate court in administration of an estate, transfers between spouses resulting from a judgment of dissolution of marriage or legal separation, transfers pursuant to an order of possession, transfers by a trustee in bankruptcy, transfers by eminent domain, and transfers resulting from a decree for specific performance.
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(2) Transfers from a mortgagor to a mortgagee by deed
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| in lieu of foreclosure or consent judgment, transfer by judicial deed issued pursuant to a foreclosure sale to the successful bidder or the assignee of a certificate of sale, transfer by a collateral assignment of a beneficial interest of a land trust, or a transfer by a mortgagee or a successor in interest to the mortgagee's secured position or a beneficiary under a deed in trust who has acquired the real property by deed in lieu of foreclosure, consent judgment or judicial deed issued pursuant to a foreclosure sale.
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(3) Transfers by a fiduciary in the course of the
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| administration of a decedent's estate, guardianship, conservatorship, or trust. As used in this paragraph, "trust" includes an Illinois land trust.
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(4) Transfers from one co-owner to one or more other
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(5) Transfers from a decedent pursuant to testate
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| disposition, intestate succession, or a transfer on death instrument.
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(6) Transfers made to a spouse, or to a person or
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| persons in the lineal line of consanguinity of one or more of the sellers.
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(7) Transfers from an entity that has taken title to
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| residential real property from a seller for the purpose of assisting in the relocation of the seller, so long as the entity makes available to all prospective buyers a copy of the disclosure report furnished to the entity by the seller.
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(8) Transfers to or from any governmental entity.
(9) Transfers of newly constructed residential real
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| property that has never been occupied. This does not include rehabilitation of existing residential real property.
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(Source: P.A. 102-765, eff. 5-13-22.)
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