|
| | 100TH GENERAL ASSEMBLY
State of Illinois
2017 and 2018
HB3434 Introduced , by Rep. Keith R. Wheeler SYNOPSIS AS INTRODUCED:
|
| |
Amends the Residential Real Property Disclosure Act. Provides that notwithstanding any other provision of a Section requiring a seller to deliver the disclosure statement to the buyer, upon signing and dating the disclosure report, the prospective buyer accepts and acknowledges that the prospective buyer has received the residential real property disclosure report form in its entirety, including the disclosure report and a copy of the Act.
|
| |
| | A BILL FOR |
|
|
| | HB3434 | | LRB100 10995 HEP 21234 b |
|
|
| 1 | | AN ACT concerning civil law.
|
| 2 | | Be it enacted by the People of the State of Illinois,
|
| 3 | | represented in the General Assembly:
|
| 4 | | Section 5. The Residential Real Property Disclosure Act is |
| 5 | | amended by changing Section 20 as follows:
|
| 6 | | (765 ILCS 77/20)
|
| 7 | | Sec. 20.
A seller of residential real property shall
|
| 8 | | complete all applicable items in the disclosure document |
| 9 | | described in Section
35
of this Act. The seller shall deliver |
| 10 | | to the prospective buyer the written
disclosure statement |
| 11 | | required by this Act before the signing of a written
agreement |
| 12 | | by the seller and prospective buyer that would, subject to the
|
| 13 | | satisfaction of any negotiated contingencies, require the |
| 14 | | prospective buyer to
accept a transfer of the residential real |
| 15 | | property. Notwithstanding any other provision of this Section, |
| 16 | | upon signing and dating the disclosure report required under |
| 17 | | Section 35 of this Act, the prospective buyer accepts and |
| 18 | | acknowledges that the prospective buyer has received the |
| 19 | | residential real property disclosure report form in its |
| 20 | | entirety, including the disclosure report provided under |
| 21 | | Section 35 and a copy of this Act as required by Section 65.
|
| 22 | | (Source: P.A. 88-111.)
|