Legal Issues in Real Estate
Numerous laws and regulations affect the buying
and selling of property in our state.
Your Illinois REALTOR® knows what is required under current law,
and what changes are being considered that can
affect your transaction.
What you should know about:
Radon Disclosure
The Illinois Radon Awareness Act requires that before a buyer
will become bound on a contract to purchase real
estate the seller will be required to provide a
pamphlet entitled “Radon Testing Guidelines for
Real Estate Transactions” and the Illinois
Disclosure of Information on Radon Hazards. The
pamphlets are provided by the Illinois Emergency Management Agency Division of
Nuclear Safety.
Carbon Monoxide Detectors
In 2006, the Illinois General Assembly passed a
new law which requires the placement of Carbon
Monoxide Detectors in residences. Find out what you
should know about detectors and your compliance with
this law.
Lead-Based Paint Hazard Reduction Act
Federal regulations regarding disclosure of
lead-based paint and lead-based paint hazards were
jointly released from the U.S. Environmental
Protection Agency and the Department of Housing and
Urban Development. The regulations focus on
disclosure and REALTOR® liability.
Seller Disclosure
Illinois’ Residential Real Property Disclosure
Act, "Seller
Disclosure," became effective October 1, 1994. The Act is a
consumer protection law designed to give buyers the
benefit of the seller's knowledge about the
condition of the property they are buying.
Understanding Agency Relationships in Real
Estate Transactions
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