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Governing Document Production and You: New Caselaw Regarding Excessive Charges to Sellers (IL)

/ Owner - April 20, 2022

Have you had a request for governing documents? Have you sold a condominium in the last few years? Are you currently living in one and plan to sell it in the foreseeable future? If you sold one, purchased one, or plan on selling one, and the unit is located in Illinois, you will have to deal with the Illinois Condominium Property Act, 765 ILCS 605 (“Act”), and specifically Section 22.1 of the Act. Under Section 22.1, sellers of a condominium unit are required to make available to prospective purchasers nine categories of documents and information specifically enumerated and described in the statute.   Read the entire article……………………………….

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