(765 ILCS 605/22.2) (Text of Section before amendment by P.A. 103-719) Sec. 22.2. Resale approval. In the event of a sale of a condominium unit by a unit owner, no condominium association shall exercise any right of refusal, option to purchase, or right to disapprove the sale, on the basis that the purchaser's financing is guaranteed by the Federal Housing Administration.
(Source: P.A. 98-463, eff. 8-16-13.) (Text of Section after amendment by P.A. 103-719) Sec. 22.2. Resale approval. In the event of a sale of a condominium unit by a unit owner, no condominium association shall exercise any right of refusal, option to purchase, or right to disapprove the sale: (a) on the basis that the purchaser's financing is guaranteed by the Federal Housing Administration; or (b) for a discriminatory or otherwise unlawful purpose. Any person aggrieved by a violation of this Section shall have a right of action in a State circuit court against the offending condominium association.(Source: P.A. 103-719, eff. 1-1-25.) |