Full Text of SB2919 103rd General Assembly
SB2919ham001 103RD GENERAL ASSEMBLY | Rep. Eva-Dina Delgado Filed: 4/26/2024 | | 10300SB2919ham001 | | LRB103 35721 JRC 72598 a |
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| 1 | | AMENDMENT TO SENATE BILL 2919
| 2 | | AMENDMENT NO. ______. Amend Senate Bill 2919 by replacing | 3 | | everything after the enacting clause with the following: | 4 | | "Section 5. The Code of Civil Procedure is amended by | 5 | | changing Section 15-1507 and by adding Sections 15-1507.2 and | 6 | | 15-1510.1 as follows: | 7 | | (735 ILCS 5/15-1507) (from Ch. 110, par. 15-1507) | 8 | | Sec. 15-1507. Judicial Sale. | 9 | | (a) In General. Except as provided in Sections 15-1402 and | 10 | | 15-1403, upon entry of a judgment of foreclosure, the real | 11 | | estate which is the subject of the judgment shall be sold at a | 12 | | judicial sale in accordance with this Section 15-1507. | 13 | | (b) Sale Procedures. | 14 | | (1) Upon expiration of the reinstatement period and | 15 | | the redemption period in accordance with subsection (b) or | 16 | | (c) of Section 15-1603 or upon the entry of a judgment of |
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| 1 | | foreclosure after the waiver of all rights of redemption, | 2 | | except as provided in subsection (g) of Section 15-1506, | 3 | | the real estate shall be sold at a sale as provided in this | 4 | | Article, on such terms and conditions as shall be | 5 | | specified by the court in the judgment of foreclosure. A | 6 | | sale may be conducted by any judge , or sheriff , or other | 7 | | person as set forth in paragraph (3) of subsection (f) of | 8 | | Section 15-1506 . | 9 | | (2) Without limiting the general authority and powers | 10 | | of the court, the mortgagee, in a foreclosure under this | 11 | | Article, may request that the judge, sheriff, or other | 12 | | person conduct the sale either in person, online, or both, | 13 | | if available. | 14 | | (c) Notice of Sale. The mortgagee, or such other party | 15 | | designated by the court, in a foreclosure under this Article | 16 | | shall give public notice of the sale as follows: | 17 | | (1) The notice of sale shall include at least the | 18 | | following information, but an immaterial error in the | 19 | | information shall not invalidate the legal effect of the | 20 | | notice: | 21 | | (A) the name, address and telephone number of the | 22 | | person to contact for information regarding the real | 23 | | estate; | 24 | | (B) the common address and other common | 25 | | description (other than legal description), if any, of | 26 | | the real estate; |
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| 1 | | (C) a legal description of the real estate | 2 | | sufficient to identify it with reasonable certainty; | 3 | | (D) a description of the improvements on the real | 4 | | estate; | 5 | | (E) the times specified in the judgment, if any, | 6 | | when the real estate may be inspected prior to sale; | 7 | | (F) the time and place of the sale , including: ; | 8 | | (i) whether the sale will take place online, | 9 | | in person, or both; and | 10 | | (ii) the website where the online bidding may | 11 | | take place, if applicable; | 12 | | (G) the terms of the sale; | 13 | | (H) the case title, case number and the court in | 14 | | which the foreclosure was filed; | 15 | | (H-1) in the case of a condominium unit to which | 16 | | subsection (g) of Section 9 of the Condominium | 17 | | Property Act applies, the statement required by | 18 | | subdivision (g)(5) of Section 9 of the Condominium | 19 | | Property Act; | 20 | | (H-2) in the case of a unit of a common interest | 21 | | community to which subsection (g-1) of Section 18.5 of | 22 | | the Condominium Property Act applies, the statement | 23 | | required by subdivision (g-1) of Section 18.5 of the | 24 | | Condominium Property Act; and | 25 | | (I) such other information ordered by the Court. | 26 | | (2) The notice of sale shall be published at least 3 |
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| 1 | | consecutive calendar weeks (Sunday through Saturday), once | 2 | | in each week, the first such notice to be published not | 3 | | more than 45 days prior to the sale, the last such notice | 4 | | to be published not less than 7 days prior to the sale, by: | 5 | | (i) (A) advertisements in a newspaper circulated to the | 6 | | general public in the county in which the real estate is | 7 | | located, in the section of that newspaper where legal | 8 | | notices are commonly placed and (B) separate | 9 | | advertisements in the section of such a newspaper, which | 10 | | (except in counties with a population in excess of | 11 | | 3,000,000) may be the same newspaper, in which real estate | 12 | | other than real estate being sold as part of legal | 13 | | proceedings is commonly advertised to the general public; | 14 | | provided, that the separate advertisements in the real | 15 | | estate section need not include a legal description and | 16 | | that where both advertisements could be published in the | 17 | | same newspaper and that newspaper does not have separate | 18 | | legal notices and real estate advertisement sections, a | 19 | | single advertisement with the legal description shall be | 20 | | sufficient; in counties with a population of more than | 21 | | 3,000,000, the notice required by this item (B) shall be | 22 | | published in a newspaper different from the newspaper that | 23 | | publishes the notice required by item (A), and the | 24 | | newspaper in which the notice required by this item (B) is | 25 | | published shall be a newspaper published in the township | 26 | | in which the real estate is located; and (ii) such other |
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| 1 | | publications as may be further ordered by the court. | 2 | | (3) The party who gives notice of public sale in | 3 | | accordance with subsection (c) of Section 15-1507 shall | 4 | | also give notice to all parties in the action who have | 5 | | appeared and have not theretofore been found by the court | 6 | | to be in default for failure to plead. Such notice shall be | 7 | | given in the manner provided in the applicable rules of | 8 | | court for service of papers other than process and | 9 | | complaint, not more than 45 days nor less than 7 days prior | 10 | | to the day of sale. After notice is given as required in | 11 | | this Section a copy thereof shall be filed in the office of | 12 | | the clerk of the court entering the judgment, together | 13 | | with a certificate of counsel or other proof that notice | 14 | | has been served in compliance with this Section. | 15 | | (4) The party who gives notice of public sale in | 16 | | accordance with subsection (c) of Section 15-1507 shall | 17 | | again give notice in accordance with that Section of any | 18 | | adjourned sale; provided, however, that if the adjourned | 19 | | sale is to occur less than 60 days after the last scheduled | 20 | | sale, notice of any adjourned sale need not be given | 21 | | pursuant to this Section. In the event of adjournment, the | 22 | | person conducting the sale shall, upon adjournment, | 23 | | announce the date, time and place upon which the adjourned | 24 | | sale shall be held or post on its website the date, time, | 25 | | and place upon which the adjourned sale shall be held . | 26 | | Notwithstanding any language to the contrary, for any |
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| 1 | | adjourned sale that is to be conducted more than 60 days | 2 | | after the date on which it was to first be held, the party | 3 | | giving notice of such sale shall again give notice in | 4 | | accordance with this Section. | 5 | | (5) Notice of the sale may be given prior to the | 6 | | expiration of any reinstatement period or redemption | 7 | | period. | 8 | | (6) No other notice by publication or posting shall be | 9 | | necessary unless required by order or rule of the court. | 10 | | (7) The person named in the notice of sale to be | 11 | | contacted for information about the real estate may, but | 12 | | shall not be required, to provide additional information | 13 | | other than that set forth in the notice of sale. | 14 | | (d) Election of Property. If the real estate which is the | 15 | | subject of a judgment of foreclosure is susceptible of | 16 | | division, the court may order it to be sold as necessary to | 17 | | satisfy the judgment. The court shall determine which real | 18 | | estate shall be sold, and the court may determine the order in | 19 | | which separate tracts may be sold. | 20 | | (e) Receipt upon Sale. Following Upon and at the sale of | 21 | | mortgaged real estate, the person conducting the sale shall | 22 | | give to the purchaser a receipt of sale. The receipt shall | 23 | | describe the real estate purchased and shall show the amount | 24 | | bid, the amount paid, the total amount paid to date and the | 25 | | amount still to be paid therefor. An additional receipt shall | 26 | | be given at the time of each subsequent payment. |
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| 1 | | (f) Certificate of Sale. Upon payment in full of the | 2 | | amount bid, the person conducting the sale shall issue, in | 3 | | duplicate, and give to the purchaser a Certificate of Sale. | 4 | | The Certificate of Sale shall be in a recordable form, | 5 | | describe the real estate purchased, indicate the date and | 6 | | place of sale and show the amount paid therefor. The | 7 | | Certificate of Sale shall further indicate that it is subject | 8 | | to confirmation by the court. The duplicate certificate may be | 9 | | recorded in accordance with Section 12-121. The Certificate of | 10 | | Sale shall be freely assignable by endorsement thereon. | 11 | | (g) Interest after Sale. Any bid at sale shall be deemed to | 12 | | include, without the necessity of a court order, interest at | 13 | | the statutory judgment rate on any unpaid portion of the sale | 14 | | price from the date of sale to the date of payment. | 15 | | (Source: P.A. 100-685, eff. 8-3-18.) | 16 | | (735 ILCS 5/15-1507.2 new) | 17 | | Sec. 15-1507.2. Online judicial sale. | 18 | | (a) The sheriff or other person may conduct the sale | 19 | | online in accordance with this Article. | 20 | | (b) The sheriff or other person may engage a third-party | 21 | | online sale provider to assist with performance of the online | 22 | | sale. Any third-party online sale provider engaged by a | 23 | | sheriff must be acquired through a process that confirms that | 24 | | the provider meets the requirements set forth in this Article. | 25 | | (c) In this Section, "third-party online sale provider" |
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| 1 | | means any sale platform or services provider that is not the | 2 | | person conducting the sale or a party to the case involving the | 3 | | judicial sale and that is engaged by the person conducting the | 4 | | sale to assist with conducting the sale online in accordance | 5 | | with State law. | 6 | | (d) The sheriff or other person may charge an additional | 7 | | fee as a reasonable expense of the sale for costs associated | 8 | | with conducting the sale online. | 9 | | (e) For any foreclosure involving residential real estate, | 10 | | the fee set forth in subsection (d) may not exceed $400, unless | 11 | | a higher fee is otherwise approved by the court. Any fees not | 12 | | charged as a cost in the case may be agreed to and paid | 13 | | directly by the judge, sheriff, other person conducting the | 14 | | sale or a party to the case without limitation. The fees | 15 | | charged under this Section shall not reduce or impact the | 16 | | sheriff's fees set forth in Section 4-5001 and 4-12001 of the | 17 | | Counties Code. | 18 | | (f) To conduct a sale online, the sheriff or other person | 19 | | conducting the sale must demonstrate to the court's | 20 | | satisfaction documented processes and procedures for | 21 | | conducting online auctions, adequate recordkeeping, and the | 22 | | ability to comply with the requirements in this Article. | 23 | | (g) If the sale takes place both online and in person, all | 24 | | bids accepted during the auction shall be simultaneously | 25 | | announced at the in-person sale and visible to the public | 26 | | online at the time the bids are placed. Any maximum bid amounts |
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| 1 | | provided by bidders ahead of the sale shall not be visible to | 2 | | the public until the bid is placed. | 3 | | (h) There shall be no fee charged to the public to view | 4 | | properties for sale online or to participate in any auction in | 5 | | person or online. | 6 | | (i) Any third-party online sale provider may not maintain | 7 | | custody of sale funds on behalf of the judge, sheriff, or other | 8 | | person conducting the sale unless specifically approved by the | 9 | | court to maintain custody of funds on their behalf. | 10 | | (j) The sheriff or other person conducting the sale shall | 11 | | require a person seeking to bid electronically online to | 12 | | complete a registration process that includes providing | 13 | | information relevant to properly identify the bidder, contact | 14 | | the bidder, and complete the sale of the property as | 15 | | determined by the sheriff or other person conducting the sale. | 16 | | (k) If the person registering to bid is an individual, the | 17 | | information required shall include the individual's name, | 18 | | electronic mail address, and telephone number. | 19 | | (l) If the person registering to bid is an entity, the | 20 | | information required in this Section shall include the | 21 | | entity's legal name, name of an individual contact person for | 22 | | the entity, electronic mail address, and telephone number. | 23 | | (m) The sheriff or other person conducting the sale online | 24 | | shall require all bidders who wish to participate in bidding | 25 | | online to have their identity verified through an | 26 | | identification verification process before a bid can be placed |
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| 1 | | online, which may include verification through a government | 2 | | issued identification, biometric verification, or other method | 3 | | of verification as determined by the judge, sheriff, or other | 4 | | person conducting the sale. If a bidder's identity cannot be | 5 | | verified through the verification process, then the bidder may | 6 | | be prohibited from participating in the online sale. | 7 | | (n) The purchaser at the sale shall submit to the person | 8 | | conducting the sale the following information prior to the | 9 | | sale being finalized: | 10 | | (1) All winning purchasers shall provide any required | 11 | | information to be checked against the federal Office for | 12 | | Foreign Assets Control sanction list by the person | 13 | | conducting the sale before finalizing the purchase of the | 14 | | property. The person conducting the sale shall check the | 15 | | winning purchaser against the sanction list before an | 16 | | order approving the sale may be entered. | 17 | | (2) If the purchaser is an individual, the information | 18 | | shall include the individual's name, physical mailing | 19 | | address, electronic mail address, and any other | 20 | | information requested by the person conducting the sale to | 21 | | adequately identify and contact the purchaser. | 22 | | (3) If the purchaser is an entity, the information | 23 | | shall include the entity's legal name, trade name if | 24 | | different from its legal name, state and date of | 25 | | formation, mailing address, proof of business registration | 26 | | with the State of Illinois, and the name of an individual |
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| 1 | | contact person for the entity, electronic mail address, | 2 | | and the person's telephone number. | 3 | | (4) The purchaser must provide the sale deposit, if | 4 | | applicable, and the balance due to the sheriff or other | 5 | | person conducting the sale at least 24 hours after the end | 6 | | of the sale, unless otherwise set forth by the sheriff or | 7 | | other person conducting the sale, in the form designated | 8 | | by the sheriff or other person conducting the sale. | 9 | | (5) If the purchaser fails to provide the required | 10 | | information within the time period designated by the | 11 | | judge, sheriff, or other person conducting the sale, the | 12 | | purchaser is in default and the judge, sheriff, or other | 13 | | person conducting the sale may void the sale and proceed | 14 | | with a resale. | 15 | | (o) Any person conducting a sale online must maintain | 16 | | evidence of satisfactory internal informational security | 17 | | controls that meet industry standards and are maintained by | 18 | | the platform used to conduct online sales. Such evidence of | 19 | | satisfactory internal controls regarding data security may be | 20 | | in the form of an annual SOC 2 Report certification, with the | 21 | | ability to test and report on the design effectiveness (Type | 22 | | 1) and operating effectiveness (Type 2) of the platform's | 23 | | controls, or another form ensuring performance and security | 24 | | requirements are met. | 25 | | (p) The person conducting the sale and the third-party | 26 | | online sale provider may engage in activities to promote and |
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| 1 | | market the sale to encourage and facilitate bidding, including | 2 | | listing the property on real estate websites and conducting | 3 | | email campaigns. The person conducting the sale or the | 4 | | third-party online sale provider is solely responsible for | 5 | | paying all fees or expenses incurred in connection with such | 6 | | activities. | 7 | | (q) In every sale conducted online of residential real | 8 | | estate, (1) the sale may be held open for bidding for up to 3 | 9 | | days and extended by the person conducting the sale as needed | 10 | | to allow for all active competitive bidding to occur, counted | 11 | | in accordance with Section 1.11 of the Statute on Statutes; | 12 | | and (2) bidding shall be open to everyone for the entire | 13 | | duration of the bidding period. | 14 | | (735 ILCS 5/15-1510.1 new) | 15 | | Sec. 15-1510.1. Third-party purchaser fees and costs. | 16 | | Notwithstanding any other provision of law to the contrary, | 17 | | for the sale of residential real estate, no fee, including a | 18 | | buyer's premium, may be charged to a third-party bidder or | 19 | | purchaser who is not a party to the case at the sale of real | 20 | | estate under this Article beyond the winning bid amount to | 21 | | cover an expense of conducting the sale. ". |
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