Topic:
Condominium Property Act
(Connelly, R-Lisle) allows a unit owner to retain ownership of his or her unit in one situation. That situation would be if the fair market value is not at least 90% of the price the unit owner paid for the unit if the unit owner files a written objection to a sale of condominium property within 20 days after the date of the meeting at which the sale was approved. This change would apply to sales that are pending or commenced on and after the effective date. Assigned to Senate Judiciary Committee.