Real Estate Law

(Williams, D-Chicago) amends the Presumptively Void Transfers Article of the Probate Act of 1975 to redefine terms. If the property in question is an interest in real property, a purchaser or mortgagee for value and without notice, before the recordation of a lis pendens for an action, shall take free and clear of the action. In House Rules Committee.

(Greg Harris, D-Chicago) Amends the Counties Code. Provides that in a county that has a property fraud alert system, a county recorder may create a registration form to register a property owner on the county's property fraud alert system that a real estate professional may file with the recorder on behalf of a property owner. Provides that real estate professionals must register with the county recorder prior to filing the registration forms on behalf of property owners. Limits liability for those assisting a property owner with registering for the property fraud alert system. Limits home rule powers. Scheduled for hearing this Thursday in House Townships Committee.

(Lang, D-Skokie) provides that the requirement that a lessor pay accumulated interest within 30 days after the end of each 12-month rental period applies to interest that has accumulated to an amount of $5 or more. Requires that the lessor pay all interest that has accumulated and remains unpaid, regardless of the amount, upon termination of the tenancy. Assigned to House Judiciary Committee (Civil).

(Thapedi, D-Chicago) provides that the owner may recover rent or a fair and reasonable satisfaction for use and occupation if the lands or tenements are held by a tenant who is a defendant in an eviction or possession action who continues to maintain possession of the land throughout the duration of the pending eviction or possession action. If an order for use and occupancy is granted to the plaintiff and the defendant violates the order by willfully failing to pay the ordered amount, it requires the court to set a firm trial date for the pending eviction possession action no less than seven days from the date that this order is entered. Makes the defendant responsible for the plaintiff’s costs and attorney’s fees. If the defendant is successful in the underlying eviction or possession action, the defendant is entitled to the return of any use and occupancy payments made to the plaintiff on his or her behalf plus statutory interest. Exempts property subject to the Condominium Property Act. To be heard in House Judiciary Committee next week.