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92_HB2756
LRB9202239OBcs
1 AN ACT in relation to property.
2 Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
4 Section 5. The Security Deposit Return Act is amended by
5 changing Section 1.1 as follows:
6 (765 ILCS 710/1.1) (from Ch. 80, par. 101.1)
7 Sec. 1.1. In the event of a sale, lease, transfer or
8 other direct or indirect disposition of residential real
9 property, other than to the holder of a lien interest in such
10 property, by a lessor who has received a security deposit or
11 prepaid rent from a lessee, the transferee of the such
12 property shall be liable to that lessee for any security
13 deposit, including statutory interest, or prepaid rent which
14 the lessee has paid to the transferor. Transferor shall
15 remain jointly and severally liable with the transferee to
16 the lessee for such security deposit or prepaid rent.
17 (Source: P.A. 81-1525.)