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94TH GENERAL ASSEMBLY
State of Illinois
2005 and 2006
HB4678
Introduced 1/12/2006, by Rep. Robert Rita SYNOPSIS AS INTRODUCED:
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Amends the Residential Real Property Disclosure Act. Makes a technical change
in a
Section concerning completion and delivery of the seller's disclosure
statement.
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A BILL FOR
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HB4678 |
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LRB094 17901 AJO 53204 b |
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| AN ACT concerning lending practices.
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| Be it enacted by the People of the State of Illinois, |
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| represented in the General Assembly:
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| Section 5. The Residential Real Property Disclosure Act is |
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| amended by changing Section 20 as follows:
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| (765 ILCS 77/20)
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| Sec. 20. A seller of residential real property shall
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| complete all applicable items in the
the disclosure document |
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| described in Section
35
of this Act. The seller shall deliver |
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| to the prospective buyer the written
disclosure statement |
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| required by this Act before the signing of a written
agreement |
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| by the seller and prospective buyer that would, subject to the
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| satisfaction of any negotiated contingencies, require the |
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| prospective buyer to
accept a transfer of the residential real |
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| property. |
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| (Source: P.A. 88-111.)
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