Rep. Daniel V. Beiser

Filed: 3/8/2011

 

 


 

 


 
09700HB1543ham001LRB097 07215 AJO 52188 a

1
AMENDMENT TO HOUSE BILL 1543

2    AMENDMENT NO. ______. Amend House Bill 1543 on page 1, by
3replacing line 5 with the following:
4"amended by changing Sections 5 and 35 as follows:
 
5    (765 ILCS 77/5)
6    Sec. 5. Definitions. As used in this Act, unless the
7context otherwise requires the following terms have the meaning
8given in this Section.
9    "Residential real property" means real property improved
10with not less than one nor more than 4 residential dwelling
11units; units in residential cooperatives; or, condominium
12units, including the limited common elements allocated to the
13exclusive use thereof that form an integral part of the
14condominium unit.
15    "Seller" means every person or entity who is an owner,
16beneficiary of a trust, contract purchaser or lessee of a
17ground lease, who has an interest (legal or equitable) in

 

 

09700HB1543ham001- 2 -LRB097 07215 AJO 52188 a

1residential real property. However, "seller" shall not include
2any person who has both (i) never occupied the residential real
3property and (ii) never had the management responsibility for
4the residential real property nor delegated such
5responsibility for the residential real property to another
6person or entity.
7    "Prospective buyer" means any person or entity negotiating
8or offering to become an owner or lessee of residential real
9property by means of a transfer for value to which this Act
10applies.
11    "Toxic mold" means stachybotrys chartarum, penicillium,
12aspergillus, or any other mold that excretes a significant
13amount of toxic compounds called mycotoxins and that has a
14tendency to produce severe adverse health effects.
15(Source: P.A. 90-383, eff. 1-1-98.)".