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Public Act 91-0326
HB2104 Enrolled LRB9103763PTpk
AN ACT concerning property.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The Conveyances Act is amended by adding
Section 38c as follows:
(765 ILCS 5/38c new)
Sec. 38c. Townhome declarations.
(a) The declarations of a noncondominium townhome
instrument concerning common interest property must provide
that maintenance assessments for a townhome must be
consistent with the following factors, when considered
together: (i) the square footage of the townhome in relation
to the square footage of other townhomes in the common
interest property community, (ii) the equalized assessed
value of the townhome in relation to the equalized assessed
value of the other townhomes in the common interest property
community, and (iii) the special assessments of the townhome
for insurance premiums in relation to those special
assessments for other townhomes in the common interest
property community.
(b) For the purposes of this Section:
"Common interest property" means real estate with respect
to which any person by virtue of his or her ownership of a
partial interest or unit in the property is obligated to pay
for maintenance, improvement, insurance premiums, or real
estate taxes of other real estate described in a declaration
that is administered by an association.
"Noncondominium townhome" means a common interest
property community that is not established under the
Condominium Property Act.
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