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Public Act 096-0232 |
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AN ACT concerning property.
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Be it enacted by the People of the State of Illinois,
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represented in the General Assembly:
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Section 5. The Residential Real Property Disclosure Act is | ||||
amended by changing Section 35 as follows:
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(765 ILCS 77/35)
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Sec. 35. Disclosure report form. The disclosures required | ||||
of a seller
by this Act shall be made in the following form:
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RESIDENTIAL REAL PROPERTY DISCLOSURE REPORT
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NOTICE: THE PURPOSE OF THIS REPORT IS TO PROVIDE | ||||
PROSPECTIVE BUYERS WITH
INFORMATION ABOUT MATERIAL DEFECTS IN | ||||
THE RESIDENTIAL REAL PROPERTY. THIS
REPORT DOES NOT LIMIT THE | ||||
PARTIES' RIGHT TO CONTRACT FOR THE SALE OF
RESIDENTIAL
REAL | ||||
PROPERTY IN "AS IS" CONDITION. UNDER COMMON LAW, SELLERS WHO | ||||
DISCLOSE
MATERIAL DEFECTS MAY BE UNDER A CONTINUING OBLIGATION | ||||
TO ADVISE THE PROSPECTIVE
BUYERS ABOUT THE CONDITION OF THE | ||||
RESIDENTIAL REAL PROPERTY EVEN AFTER THE
REPORT IS DELIVERED TO | ||||
THE PROSPECTIVE BUYER. COMPLETION OF THIS REPORT BY
THE
SELLER | ||||
CREATES LEGAL OBLIGATIONS ON THE SELLER; THEREFORE THE
SELLER | ||||
MAY WISH TO CONSULT
AN ATTORNEY PRIOR TO COMPLETION OF THIS | ||||
REPORT.
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Property Address: ...........................................
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City, State & Zip Code: .....................................
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Seller's Name: ..............................................
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This Report is a disclosure of certain conditions of the | ||
residential real
property listed above in compliance with the | ||
Residential Real Property
Disclosure Act. This information is | ||
provided as of ...(month) ...(day)
...(year), and does not | ||
reflect any changes made or occurring after that date
or | ||
information that becomes known to the seller after that date. | ||
The
disclosures herein shall not be deemed warranties of any | ||
kind by the seller or
any person representing any party in this | ||
transaction.
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In this form, "am aware" means to have actual notice or
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actual knowledge without any specific investigation or | ||
inquiry.
In this form, "material defect" means a condition that | ||
would
have a substantial adverse effect on the value of the | ||
residential
real property or that would significantly impair | ||
the health or
safety of future occupants of the residential | ||
real property
unless the seller reasonably believes that the | ||
condition has
been corrected.
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The seller discloses the following information with the
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knowledge that even though the statements herein are not deemed
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to be warranties, prospective buyers may choose to rely on
this | ||
information in deciding whether or not and on what terms
to | ||
purchase the residential real property.
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The seller represents that to the best of his or her actual
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knowledge, the following statements have been accurately noted
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as "yes" (correct), "no" (incorrect), or "not applicable" to |
the
property being sold. If the seller indicates that the | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
response
to any statement, except number 1, is yes or not | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
applicable, the
seller shall provide an explanation, in the | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
additional information
area of this form.
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Note: These disclosures are not intended to cover the | |||||||||||||||||
common
elements of a condominium, but only the actual | |||||||||||||||||
residential real
property including limited common elements | |||||||||||||||||
allocated to the
exclusive use thereof that form an integral | |||||||||||||||||
part of the
condominium unit.
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Note: These disclosures are intended to reflect the current | |||||||||||||||||
condition of
the premises and do not include previous problems, | |||||||||||||||||
if any, that the seller
reasonably believes have been | |||||||||||||||||
corrected.
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If any of the above are marked "not applicable" or "yes", | |||||||||||||||||
please explain here
or use additional pages, if necessary:
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Check here if additional pages used: .....
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Seller certifies that seller has prepared this statement | |||||||||||||||||
and
certifies that the information provided is based on the | |||||||||||||||||
actual
notice or actual knowledge of the seller without any | |||||||||||||||||
specific
investigation or inquiry on the part of the seller. | |||||||||||||||||
The seller
hereby authorizes any person representing any | |||||||||||||||||
principal in this
transaction to provide a copy of this report, | |||||||||||||||||
and to disclose
any information in the report, to any person in | |||||||||||||||||
connection
with any actual or anticipated sale of the property.
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Seller: ............................... Date: ...............
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Seller: ............................... Date: ...............
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THE PROSPECTIVE BUYER IS AWARE THAT THE PARTIES MAY CHOOSE
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TO NEGOTIATE AN AGREEMENT FOR THE SALE OF THE PROPERTY SUBJECT | ||
TO
ANY OR ALL MATERIAL DEFECTS DISCLOSED IN THIS REPORT ("AS | ||
IS").
THIS DISCLOSURE IS NOT A SUBSTITUTE FOR ANY INSPECTIONS | ||
OR WARRANTIES
THAT THE PROSPECTIVE BUYER OR SELLER MAY WISH TO | ||
OBTAIN
OR NEGOTIATE. THE FACT THAT THE SELLER IS NOT AWARE OF A | ||
PARTICULAR
CONDITION OR PROBLEM IS NO GUARANTEE THAT IT DOES | ||
NOT EXIST.
THE PROSPECTIVE BUYER IS AWARE THAT HE MAY REQUEST | ||
AN INSPECTION OF
THE PREMISES PERFORMED BY A QUALIFIED | ||
PROFESSIONAL.
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Prospective Buyer: .................. Date: ...... Time: ....
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Prospective Buyer: .................. Date: ...... Time: ....
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(Source: P.A. 90-383, eff. 1-1-98; 91-357, eff. 7-29-99 .)
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Section 99. Effective date. This Act takes effect upon | ||
becoming law.
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