Bill Text: IL HB1773 | 2013-2014 | 98th General Assembly | Introduced
NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: Amends the Condominium Property Act. Makes a technical change in a Section pertaining to the submission of property to the provisions of the Act.
Spectrum: Partisan Bill (Republican 3-0)
Status: (Passed) 2013-08-09 - Public Act . . . . . . . . . 98-0232 [HB1773 Detail]
Download: Illinois-2013-HB1773-Introduced.html
Bill Title: Amends the Condominium Property Act. Makes a technical change in a Section pertaining to the submission of property to the provisions of the Act.
Spectrum: Partisan Bill (Republican 3-0)
Status: (Passed) 2013-08-09 - Public Act . . . . . . . . . 98-0232 [HB1773 Detail]
Download: Illinois-2013-HB1773-Introduced.html
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1 | AN ACT concerning civil law.
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2 | Be it enacted by the People of the State of Illinois, | |||||||||||||||||||
3 | represented in the General Assembly:
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4 | Section 5. The Condominium Property Act is amended by | |||||||||||||||||||
5 | changing Section 3 as follows:
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6 | (765 ILCS 605/3) (from Ch. 30, par. 303)
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7 | Sec. 3. Submission of property. Whenever the
the owner or | |||||||||||||||||||
8 | owners in fee simple,
or the sole lessee or all lessees of a | |||||||||||||||||||
9 | lease described in item (x) of Section
2, of a parcel intend to | |||||||||||||||||||
10 | submit such property to the provisions of this Act,
they shall | |||||||||||||||||||
11 | do so by recording a declaration, duly executed and | |||||||||||||||||||
12 | acknowledged,
expressly stating such intent and setting forth | |||||||||||||||||||
13 | the particulars enumerated in
Section 4. If the condominium is | |||||||||||||||||||
14 | a leasehold condominium, then every lessor of
the lease | |||||||||||||||||||
15 | creating a leasehold interest as described in item (x) of | |||||||||||||||||||
16 | Section 2
shall also execute the declaration and such lease | |||||||||||||||||||
17 | shall be recorded prior to
the recording of the declaration. | |||||||||||||||||||
18 | The execution of a declaration required
under this Section | |||||||||||||||||||
19 | by the lessor under a lease as described in item (x) of
Section | |||||||||||||||||||
20 | 2 does not make the lessor a developer for purposes of this | |||||||||||||||||||
21 | Act.
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22 | (Source: P.A. 93-474, eff. 8-8-03.)
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