(765 ILCS 75/0.01) (from Ch. 29, par. 8.20)
Sec. 0.01.
Short title.
This Act may be cited as the
Dwelling Unit Installment Contract Act.
(Source: P.A. 86-1324.)
|
(765 ILCS 75/1) (from Ch. 29, par. 8.21)
Sec. 1.
As used in this Act, unless the context requires otherwise:
(a) "Family unit" means any person maintaining a household, or 2 or more
persons maintaining a common household. A person is deemed to be
maintaining a household even though the room or rooms being occupied are
only sleeping rooms.
(b) "Dwelling structure" means any private home or residence, or any
building or structure to be occupied or resided in by 12 or less family
units. A family unit is deemed to live independently of another family unit
even though the family units may be required to share cooking facilities,
laundry facilities or bathroom facilities. Dwelling structures do not
include public or private hospitals, public or private school dormitories,
fraternity houses, convents, monasteries, mental institutions, penal
institutions, seminaries, State-licensed nursing homes or shelter care
homes, or any federal, State, county or municipal institution or home.
(c) "Dwelling code" means any municipal or county ordinance, building
code, or law establishing construction, plumbing, heating, electrical, fire
prevention, sanitation or other health and safety standards applicable to
dwellings.
(d) "Contract seller" means the owner of a legal or beneficial interest
in a dwelling structure, or the owner's agent who executes an installment
contract to sell a dwelling structure for the owner.
(e) "Installment contract" means any contract or agreement, including
contracts for deeds, bonds for deeds or any other sale or legal device,
whereby a contract seller agrees to sell and a buyer agrees to buy a
dwelling structure, wherein the consideration for such sale is payable in
installments for a period of at least one year after buyer takes possession
of the dwelling structure and the contract seller continues to have an
interest, or security for the purchase price or otherwise in that property.
(f) "Certificate of compliance" means an affidavit executed by a
contract seller stating that the dwelling structure was inspected within 30
days before the contract was executed by an Inspector of the Municipality
or County wherein the premises is located, and that at the date of the
execution of the contract the dwelling structure is not in violation of any
dwelling code.
(Source: Laws 1968, p. 164.)
|
(765 ILCS 75/2) (from Ch. 29, par. 8.22)
Sec. 2.
After the effective date of this Act, any installment contract for
the sale of a dwelling structure shall be voidable at the election of the
buyer unless there is attached to the contract or incorporated therein a
certificate of compliance, or in the absence of such a certificate (i) an
express written warranty that no notice from any city, village or other
governmental authority of a dwelling Code violation which existed in the
dwelling structure before the installment contract was executed had been
received by the contract seller, his principal or his agent within 10 years
of the date of execution of the installment contract, or, (ii) if any such
notice of violation had been received, a list of all such notices so
received with a detailed statement of all violations referred to in such
notice. The requirements of this section cannot be waived by the buyer or
seller.
(Source: Laws 1968, p. 164.)
|