HB4420 97TH GENERAL ASSEMBLY

LRB097 15412 AJO 60512 b

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.

A BILL FOR

AN ACT concerning civil law.

Be it enacted by the People of the State of Illinois, represented in the General Assembly:

Section 5. The Residential Real Property Disclosure Act is amended by changing Section 20 as follows:

(765 ILCS 77/20)

Sec. 20. A seller of residential real property shall complete all applicable items in the the disclosure document described in Section 35 of this Act. The seller shall deliver to the prospective buyer the written disclosure statement required by this Act before the signing of a written agreement by the seller and prospective buyer that would, subject to the satisfaction of any negotiated contingencies, require the prospective buyer to accept a transfer of the residential real property.

(Source: P.A. 88-111.)