Bill Title: Amends the Condominium Property Act. Provides that if a unit owner has filed a written objection to a sale of condominium property within 20 days after the date of the meeting at which the sale was approved, the unit owner may retain ownership of his or her unit if the fair market value is not at least 90% of the price the unit owner paid for the unit. Provides that the changes apply to sales that are pending or commenced on and after the effective date. Effective immediately.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2016-07-31 - Pursuant to Senate Rule 3-9(b) / Referred to Assignments [SB2863 Detail]

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Bill Drafts

Revision	Date	Format	Source	View
Introduced	2016-02-17	HTML/Text	Link	View

Amendments

Amendment	Date	Disposition	Format	Source	View
Senate Amendment 001	2016-03-15	Proposed	HTML/Text	Link	View

Supplemental Documents

Title	Description	Date	Format	Source	View
No supplemental documents for Illinois SB2863 currently on file.

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