State of Illinois
2021 and 2022


Introduced 11/16/2022, by Rep. Curtis J. Tarver, II


765 ILCS 77/5

    Amends the Residential Real Property Disclosure Act. Provides that "seller" does not include a beneficiary who has both (i) never occupied the residential real property and (ii) never had management responsibility for the residential real property. Effective immediately.

LRB102 28914 LNS 40808 b





HB5806LRB102 28914 LNS 40808 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 5 as follows:
6    (765 ILCS 77/5)
7    Sec. 5. Definitions. As used in this Act, unless the
8context otherwise requires, the following terms have the
9meaning given in this Section:
10    "Residential real property" means real property improved
11with not less than one nor more than 4 residential dwelling
12units; units in residential cooperatives; or, condominium
13units, including the limited common elements allocated to the
14exclusive use thereof that form an integral part of the
15condominium unit. The term includes a manufactured home as
16defined in subdivision (53) of Section 9-102 of the Uniform
17Commercial Code that is real property as defined in the
18Conveyance and Encumbrance of Manufactured Homes as Real
19Property and Severance Act.
20    "Seller" means every person or entity who:
21        (1) is a beneficiary of an Illinois land trust; or
22        (2) has an interest, legal or equitable, in
23    residential real property as:



HB5806- 2 -LRB102 28914 LNS 40808 b

1            (i) an owner;
2            (ii) a beneficiary of a trust;
3            (iii) a beneficiary pursuant to testate
4        disposition, intestate succession, or a transfer on
5        death instrument; or
6            (iv) a contract purchaser or lessee of a ground
7        lease.
8    "Seller" does not include a party to a transfer that is
9exempt under Section 15 or a beneficiary who has both (i) never
10occupied the residential real property and (ii) never had
11management responsibility for the residential real property.
12    "Prospective buyer" means any person or entity negotiating
13or offering to become an owner or lessee of a ground lease of
14residential real property by means of a transfer for value to
15which this Act applies.
16    "Contract" means a written agreement by the seller and
17prospective buyer that would, subject to the satisfaction of
18any negotiated contingencies, require the prospective buyer to
19accept a transfer of the residential real property.
20(Source: P.A. 102-765, eff. 5-13-22.)
21    Section 99. Effective date. This Act takes effect upon
22becoming law.