Topic:
Foreclosure sales and security deposits
(Hernandez, D-Cicero; Collins, D-Chicago) requires the mortgagor must transfer to the purchaser any security deposit and accrued interest paid by a current occupant if the mortgaged real estate contains five or more dwelling units. Requires that the purchaser must post a notice that informs the occupant of the security deposit at each dwelling unit for which the purchaser has a security deposit within 21 days after the purchaser’s receipt of the security deposits. Passed both chambers.