97TH GENERAL ASSEMBLY
State of Illinois
2011 and 2012
HB4420

 

Introduced 1/30/2012, by Rep. Michael J. Madigan

 

SYNOPSIS AS INTRODUCED:
 
765 ILCS 77/20

    Amends the Residential Real Property Disclosure Act. Makes a technical change in a Section concerning completion and delivery of the seller's disclosure statement.


LRB097 15412 AJO 60512 b

 

 

A BILL FOR

 

HB4420LRB097 15412 AJO 60512 b

1    AN ACT concerning civil law.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Residential Real Property Disclosure Act is
5amended by changing Section 20 as follows:
 
6    (765 ILCS 77/20)
7    Sec. 20. A seller of residential real property shall
8complete all applicable items in the the disclosure document
9described in Section 35 of this Act. The seller shall deliver
10to the prospective buyer the written disclosure statement
11required by this Act before the signing of a written agreement
12by the seller and prospective buyer that would, subject to the
13satisfaction of any negotiated contingencies, require the
14prospective buyer to accept a transfer of the residential real
15property.
16(Source: P.A. 88-111.)