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91_HB1614
LRB9103163WHdv
1 AN ACT to amend the Condominium Property Act by changing
2 Section 3.
3 Be it enacted by the People of the State of Illinois,
4 represented in the General Assembly:
5 Section 5. The Condominium Property Act is amended by
6 changing Section 3 as follows:
7 (765 ILCS 605/3) (from Ch. 30, par. 303)
8 Sec. 3. Submission of property. Whenever the owner or
9 owners in fee simple, or the sole lessee or all lessees of a
10 lease described in item (x) of Section 2, of a parcel intend
11 to submit such property to the provisions of this Act, they
12 shall do so by recording a declaration, duly executed and
13 acknowledged, expressly stating that such intent and setting
14 forth the particulars enumerated in Section 4. If the
15 condominium is a leasehold condominium, then every lessor of
16 the lease creating a leasehold interest as described in item
17 (x) of Section 2 shall also execute the declaration and such
18 lease shall be recorded prior to the recording of the
19 declaration.
20 (Source: P.A. 89-89, eff. 6-30-95.)