HB3897 103RD GENERAL ASSEMBLY

LRB103 31000 LNS 57607 b

103RD GENERAL ASSEMBLY
State of Illinois
2023 and 2024
HB3897

Introduced 2/17/2023, by Rep. Lance Yednock

SYNOPSIS AS INTRODUCED:

765 ILCS 5/39a new

Amends the Conveyances Act. Provides that the Department of Financial and Professional Regulation shall work with the Illinois Real Estate Lawyers Association and other interested parties to develop a standardized residential real estate contract.

A BILL FOR

AN ACT concerning civil law.

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

Section 5. The Conveyances Act is amended by adding Section 39a as follows:

(765 ILCS 5/39a new)

Sec. 39a. Standardized residential real estate contract. The Department of Financial and Professional Regulation shall work with the Illinois Real Estate Lawyers Association and other interested parties to develop a standardized residential real estate contract.