Bill Text: IL HB3434 | 2017-2018 | 100th General Assembly | Introduced


Bill Title: Amends the Residential Real Property Disclosure Act. Provides that notwithstanding any other provision of a Section requiring a seller to deliver the disclosure statement to the buyer, upon signing and dating the disclosure report, the prospective buyer accepts and acknowledges that the prospective buyer has received the residential real property disclosure report form in its entirety, including the disclosure report and a copy of the Act.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced) 2017-03-31 - Rule 19(a) / Re-referred to Rules Committee [HB3434 Detail]

Download: Illinois-2017-HB3434-Introduced.html


100TH GENERAL ASSEMBLY
State of Illinois
2017 and 2018
HB3434

Introduced , by Rep. Keith R. Wheeler

SYNOPSIS AS INTRODUCED:
765 ILCS 77/20

Amends the Residential Real Property Disclosure Act. Provides that notwithstanding any other provision of a Section requiring a seller to deliver the disclosure statement to the buyer, upon signing and dating the disclosure report, the prospective buyer accepts and acknowledges that the prospective buyer has received the residential real property disclosure report form in its entirety, including the disclosure report and a copy of the Act.
LRB100 10995 HEP 21234 b

A BILL FOR

HB3434LRB100 10995 HEP 21234 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 20 as follows:
6 (765 ILCS 77/20)
7 Sec. 20. A seller of residential real property shall
8complete all applicable items in the disclosure document
9described in Section 35 of this Act. The seller shall deliver
10to the prospective buyer the written disclosure statement
11required by this Act before the signing of a written agreement
12by the seller and prospective buyer that would, subject to the
13satisfaction of any negotiated contingencies, require the
14prospective buyer to accept a transfer of the residential real
15property. Notwithstanding any other provision of this Section,
16upon signing and dating the disclosure report required under
17Section 35 of this Act, the prospective buyer accepts and
18acknowledges that the prospective buyer has received the
19residential real property disclosure report form in its
20entirety, including the disclosure report provided under
21Section 35 and a copy of this Act as required by Section 65.
22(Source: P.A. 88-111.)
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