093_SB1327

 
                                     LRB093 10745 LCB 11265 b

 1        AN ACT concerning property.

 2        Be  it  enacted  by  the People of the State of Illinois,
 3    represented in the General Assembly:

 4        Section 5.  The Residential Real Property Disclosure  Act
 5    is amended by changing Section 35 as follows:

 6        (765 ILCS 77/35)
 7        Sec.   35.   Disclosure  report  form.   The  disclosures
 8    required of a seller  by  this  Act  shall  be  made  in  the
 9    following form:
10             RESIDENTIAL REAL PROPERTY DISCLOSURE REPORT
11        NOTICE:   THE  PURPOSE  OF  THIS  REPORT  IS  TO  PROVIDE
12    PROSPECTIVE BUYERS WITH INFORMATION ABOUT MATERIAL DEFECTS IN
13    THE  RESIDENTIAL  REAL  PROPERTY.  THIS REPORT DOES NOT LIMIT
14    THE PARTIES' RIGHT TO CONTRACT FOR THE  SALE  OF  RESIDENTIAL
15    REAL  PROPERTY  IN  "AS  IS"  CONDITION.   UNDER  COMMON LAW,
16    SELLERS  WHO  DISCLOSE  MATERIAL  DEFECTS  MAY  BE  UNDER   A
17    CONTINUING  OBLIGATION TO ADVISE THE PROSPECTIVE BUYERS ABOUT
18    THE CONDITION OF THE RESIDENTIAL REAL PROPERTY EVEN AFTER THE
19    REPORT IS DELIVERED TO THE PROSPECTIVE BUYER.  COMPLETION  OF
20    THIS  REPORT  BY  THE SELLER CREATES LEGAL OBLIGATIONS ON THE
21    SELLER; THEREFORE THE SELLER MAY WISH TO CONSULT AN  ATTORNEY
22    PRIOR TO COMPLETION OF THIS REPORT.
23    Property Address: ...........................................
24    City, State & Zip Code: .....................................
25    Seller's Name: ..............................................
26        This  Report is a disclosure of certain conditions of the
27    residential real property listed above in compliance with the
28    Residential Real Property Disclosure Act.   This  information
29    is provided as of ...(month) ...(day) ...(year), and does not
30    reflect  any  changes  made  or  occurring after that date or
31    information that becomes known to the seller after that date.
 
                            -2-      LRB093 10745 LCB 11265 b
 1    The disclosures herein shall not be deemed warranties of  any
 2    kind  by  the  seller or any person representing any party in
 3    this transaction.
 4        In this form, "am aware" means to have actual  notice  or
 5    actual   knowledge  without  any  specific  investigation  or
 6    inquiry.  In this form, "material defect" means  a  condition
 7    that  would have a substantial adverse effect on the value of
 8    the residential real property  or  that  would  significantly
 9    impair  the  health  or  safety  of  future  occupants of the
10    residential  real  property  unless  the  seller   reasonably
11    believes that the condition has been corrected.
12        The  seller  discloses the following information with the
13    knowledge that even though  the  statements  herein  are  not
14    deemed  to  be  warranties,  prospective buyers may choose to
15    rely on this information in deciding whether or  not  and  on
16    what terms to purchase the residential real property.
17        The  seller  represents  that  to  the best of his or her
18    actual  knowledge,  the  following   statements   have   been
19    accurately  noted  as  "yes"  (correct), "no" (incorrect), or
20    "not applicable" to the  property being sold.  If the  seller
21    indicates  that  the response to any statement, except number
22    1, is yes or not applicable,  the  seller  shall  provide  an
23    explanation, in the additional information area of this form.
24         YES    NO     N/A
25      1 ...... .....  .....  Seller  has  occupied  the  property
26                             within   the  last  12  months.  (No
27                             explanation is needed.)
28     2. .....  .....  .....  I am aware of flooding or  recurring
29                             leakage problems in the crawl
30                             space or basement.
31     3. .....  .....  .....  I  am  aware  that  the  property is
32                             located in a flood plain or that I
33                             currently have flood hazard
34                             insurance on the property.
 
                            -3-      LRB093 10745 LCB 11265 b
 1     4. .....  .....  .....  I am  aware  of material  defects in
 2                             the basement or foundation
 3                             (including cracks and bulges).
 4     5. .....  .....  .....  I am aware of leaks or  material
 5                             defects in the roof, ceilings, or
 6                             chimney.
 7     6. .....  .....  .....  I am  aware of  material  defects in
 8                             the walls or floors.
 9     7. .....  .....  .....  I am aware of  material  defects  in
10                             the electrical system.
11     8. .....  .....  .....  I am  aware  of  material defects in
12                             the plumbing system (includes
13                             such things as water heater, sump
14                             pump, water treatment system,
15                             sprinkler system, and swimming
16                             pool).
17     9. .....  .....  .....  I am aware of  material  defects  in
18                             the well or well equipment.
19    10. .....  .....  .....  I am  aware of  unsafe conditions in
20                             the drinking water.
21    11. .....  .....  .....  I am aware of  material  defects  in
22                             the heating, air conditioning, or
23                             ventilating systems.
24    12. .....  .....  .....  I am  aware  of  material defects in
25                             the fireplace or woodburning
26                             stove.
27    13. .....  .....  .....  I am aware of  material  defects  in
28                             the septic, sanitary sewer, or
29                             other disposal system.
30    14. .....  .....  .....  I am aware of unsafe  concentrations
31                             of radon on the premises.
32    15. .....  .....  .....  I am aware of unsafe  concentrations
33                             of or unsafe conditions relating
34                             to asbestos on the premises.
 
                            -4-      LRB093 10745 LCB 11265 b
 1    16. .....  .....  .....  I am aware of unsafe  concentrations
 2                             of or unsafe conditions relating
 3                             to lead paint, lead water pipes,
 4                             lead plumbing pipes or lead in
 5                             the soil on the premises.
 6    17. .....  .....  .....  I  am  aware  of  mine   subsidence,
 7                             underground pits, settlement,
 8                             sliding, upheaval, or other earth
 9                             stability defects on the
10                             premises.
11    18. .....  .....  .....  I am aware of  current  infestations
12                             of termites or other wood boring
13                             insects.
14    19. .....  .....  .....  I am aware  of  a structural  defect
15                             caused by previous infestations
16                             of termites or other wood boring
17                             insects.
18    20. .....  .....  .....  I  am  aware   of  underground  fuel
19                             storage tanks on the property.
20    21. .....  .....  .....  I am  aware  of boundary or lot line
21                             disputes.
22    22. .....  .....  .....  I have received notice of  violation
23                             of local, state or federal laws
24                             or regulations relating to this
25                             property, which violation has not
26                             been corrected.
27    23. .....  .....  .....  I have done or undertaken
28                             expenditures to correct a
29                             material defect in one of the
30                             areas listed above during the
31                             previous 10 years of ownership
32                             of the property.
33        Note:  These disclosures are not intended  to  cover  the
34    common  elements  of  a  condominium,  but  only  the  actual
 
                            -5-      LRB093 10745 LCB 11265 b
 1    residential  real  property including limited common elements
 2    allocated to the exclusive use thereof that form an  integral
 3    part of the condominium unit.
 4        Note:   These  disclosures  are  intended  to reflect the
 5    current condition of the premises and do not include previous
 6    problems, if any, that the seller  reasonably  believes  have
 7    been corrected.
 8        If any of the above are marked "not applicable" or "yes",
 9    please explain here or use additional pages, if necessary:
10    .............................................................
11    .............................................................
12    .............................................................
13        Check here if additional pages used: .....
14        Seller  certifies that seller has prepared this statement
15    and  certifies that the information provided is based on  the
16    actual  notice  or actual knowledge of the seller without any
17    specific investigation or inquiry on the part of the  seller.
18    The  seller  hereby  authorizes  any  person representing any
19    principal in this transaction  to  provide  a  copy  of  this
20    report, and to disclose any information in the report, to any
21    person  in  connection with any actual or anticipated sale of
22    the property.
23    Seller: ............................... Date: ...............
24    Seller: ............................... Date: ...............
25        THE PROSPECTIVE BUYER  IS  AWARE  THAT  THE  PARTIES  MAY
26    CHOOSE TO NEGOTIATE AN AGREEMENT FOR THE SALE OF THE PROPERTY
27    SUBJECT  TO  ANY  OR  ALL  MATERIAL DEFECTS DISCLOSED IN THIS
28    REPORT ("AS IS").   THIS DISCLOSURE IS NOT A  SUBSTITUTE  FOR
29    ANY  INSPECTIONS  OR WARRANTIES THAT THE PROSPECTIVE BUYER OR
30    SELLER MAY WISH TO OBTAIN OR NEGOTIATE.  THE  FACT  THAT  THE
31    SELLER  IS  NOT AWARE OF A PARTICULAR CONDITION OR PROBLEM IS
32    NO GUARANTEE THAT IT DOES NOT EXIST. THE PROSPECTIVE BUYER IS
33    AWARE THAT HE MAY  REQUEST  AN  INSPECTION  OF  THE  PREMISES
34    PERFORMED BY A QUALIFIED PROFESSIONAL.
 
                            -6-      LRB093 10745 LCB 11265 b
 1    Prospective Buyer: .................. Date: ...... Time: ....
 2    Prospective Buyer: .................. Date: ...... Time: ....
 3    (Source: P.A. 90-383, eff. 1-1-98; 91-357, eff. 7-29-99.)