Bill Title: Amends the Mortgage Foreclosure Article of the Code of Civil Procedure in relation to short sales of property. Provides that, if an offer to purchase either a mortgage or residential property is made by an entity with a tax-exempt filing status under Section 501(c)(3) of the Internal Revenue Code or an entity that controls, is controlled by, or is under common control with an entity with such tax-exempt filing status, no mortgagee may require, as a condition of sale or transfer to any such entity, any affidavit, statement, agreement, or addendum limiting ownership or occupancy of the residential property by the mortgagor and, if obtained, the affidavit, statement, agreement, or addendum does not provide a basis to avoid a sale or transfer nor is it enforceable against the acquiring entity or any real estate broker, mortgagor, or settlement agent named in the affidavit, statement, or addendum. Effective immediately.

Spectrum: Partisan Bill (Democrat 4-0)

Status: (Failed) 2019-01-09 - Session Sine Die [SB2894 Detail]

Text: Latest bill text (Introduced) [HTML]

---

Voting Records

Chamber	Vote	Date	Yea	Nay	NV	Abs	Total	Result	Source	View
No roll call record information currently on file.

States not producing parsable votes may be available as images in Supplemental Documents.

Social Comments on IL SB2894