The Illinois Residential Real Property Disclosure Act is an Illinois statute that was enacted in 1998 with the goal of guarding home buyers against dishonest sellers who falsely report the condition of their real estate property. It is meant to provide Illinois real estate buyers with a reliable representation of the key conditions of a property.
It requires that sellers complete a form entirely, specifically answering numerous questions about a wide range of conditions of their property from foundation to plumbing and everywhere in between. Therefore, it’s always important to talk with an Illinois real estate lawyer.
To learn more about the Illinois Residential Real Property Disclosure Act: http://www.ilga.gov/legislation/ilcs/ilcs5.asp?ActID=2152&ChapterID=62
