Curtis J. Tarver, II
- District 25
Amends the Residential Real Property Disclosure Act. Changes the definition of "seller". Defines "contract". Changes the phrases "disclosure document" and "disclosure statement" to "disclosure report". Provides that if a seller is involved in specified types of transfers, the seller is exempt from the Act, regardless of whether a disclosure report is delivered. Provides that the seller shall deliver to the prospective buyer the written disclosure report before the signing of a contract (rather than before the signing of a written agreement by the seller and prospective buyer that would require the prospective buyer to accept a transfer of the residential real property). Provides that if, prior to closing, any seller becomes aware (rather than has actual knowledge) of an error, inaccuracy, or omission in any prior disclosure report or supplement after delivery of that disclosure report or supplement to a prospective buyer, that seller shall supplement the prior disclosure report. Makes changes to the disclosure report form. Provides that if a seller discloses a material defect in the disclosure report, a prospective buyer, within 5 (rather than 3) business days after receipt of the disclosure report, may terminate the contract. Provides that if a seller discloses a material defect in a supplement to the disclosure, the prospective buyer shall not have a right to terminate unless: (i) the material defect results from an error, inaccuracy, or omission of which the seller had actual knowledge at the time of the prior disclosure; (ii) the material defect is not repairable prior to closing; or (iii) the material defect is repairable prior to closing, but within 5 business days after delivery of the supplemental disclosure, the seller declines, or otherwise fails to agree in writing, to repair the material defect. Allows for the disclosure report to be delivered by email or other electronic delivery. Makes other changes. Effective immediately. House Floor Amendment No. 1 Adds reference to: 765 ILCS 77/65 Provides that newly constructed residential real property that has never been occupied does not include the rehabilitation of existing residential real property (rather than rehabilitation of an existing home). Provides that a seller who has indicated "no" to occupying the property within the last 12 months on a residential real property form shall identify capacity or explain the relationship to the property (rather than only explain the relationship to the property). Requires a copy of specific provisions of Article 2 (rather than a copy of the whole Act) to be printed on or as a part of the Residential Real Property Disclosure Report form.
Public Act . . . . . . . . . 102-0765
Effective Date May 13, 2022
Sent to the Governor
Added as Alternate Chief Co-Sponsor Sen. Patricia Van Pelt
Third Reading - Passed; 053-000-000
Passed Both Houses
Do Pass Judiciary; 007-000-000
Placed on Calendar Order of 3rd Reading March 24, 2022
Placed on Calendar Order of 2nd Reading
Assigned to Judiciary
Arrive in Senate
Referred to Assignments
Chief Senate Sponsor Sen. Elgie R. Sims, Jr.
Placed on Calendar Order of First Reading
Third Reading - Short Debate - Passed 111-000-000
Placed on Calendar Order of 3rd Reading - Short Debate
House Floor Amendment No. 1 Recommends Be Adopted Judiciary - Civil Committee; 013-000-000
Added Chief Co-Sponsor Rep. Terra Costa Howard
House Floor Amendment No. 1 Adopted
House Floor Amendment No. 1 Rules Refers to Judiciary - Civil Committee
Removed Co-Sponsor Rep. Terra Costa Howard
Added Co-Sponsor Rep. Terra Costa Howard
Removed from Consent Calendar Status Rep. Curtis J. Tarver, II
House Floor Amendment No. 1 Referred to Rules Committee
House Floor Amendment No. 1 Filed with Clerk by Rep. Curtis J. Tarver, II
Held on Calendar Order of Second Reading - Short Debate
Held on Calendar Order of Second Reading - Consent Calendar
Second Reading - Consent Calendar
Added Co-Sponsor Rep. Jaime M. Andrade, Jr.
Placed on Calendar 2nd Reading - Consent Calendar
Do Pass / Consent Calendar Judiciary - Civil Committee; 015-000-000
Assigned to Judiciary - Civil Committee
Referred to Rules Committee
Filed with the Clerk by Rep. Curtis J. Tarver, II
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