Rep. Daniel V. Beiser
Filed: 3/8/2011
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1 | AMENDMENT TO HOUSE BILL 1543
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2 | AMENDMENT NO. ______. Amend House Bill 1543 on page 1, by | ||||||
3 | replacing line 5 with the following:
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4 | "amended by changing Sections 5 and 35 as follows:
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5 | (765 ILCS 77/5)
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6 | Sec. 5. Definitions. As used in this Act, unless the | ||||||
7 | context otherwise
requires the
following terms have the meaning | ||||||
8 | given in this Section.
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9 | "Residential real property" means real property improved | ||||||
10 | with not less
than one nor more than 4 residential dwelling | ||||||
11 | units; units in residential
cooperatives; or, condominium | ||||||
12 | units, including the limited common elements
allocated to the | ||||||
13 | exclusive use thereof that form an integral part of the
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14 | condominium unit.
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15 | "Seller" means every person or entity who is an owner, | ||||||
16 | beneficiary of a
trust, contract purchaser or lessee of a | ||||||
17 | ground lease,
who has an interest (legal or equitable) in |
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1 | residential real property.
However, "seller" shall not include
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2 | any person who has both (i) never occupied the residential real | ||||||
3 | property and
(ii) never had the management responsibility for | ||||||
4 | the residential real property
nor delegated such | ||||||
5 | responsibility for the residential real property to another
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6 | person or entity.
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7 | "Prospective buyer" means any person or entity negotiating | ||||||
8 | or offering
to become an owner or lessee of residential real | ||||||
9 | property by means of a
transfer for value to which this Act | ||||||
10 | applies.
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11 | "Toxic mold" means stachybotrys chartarum, penicillium, | ||||||
12 | aspergillus, or any other mold that excretes a significant | ||||||
13 | amount of toxic compounds called mycotoxins and that has a | ||||||
14 | tendency to produce severe adverse health effects. | ||||||
15 | (Source: P.A. 90-383, eff. 1-1-98.)".
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