Real Estate Law

(Collins, D-Chicago; Cassidy, D-Chicago) does three things. (1) Defines a “bona fide tenant” substantially consistent with the 2009 federal Protecting Tenants at Foreclosure Act. (2) Requires a petitioner to wait 90 days (unless the lease term is longer than 90 days) before a forcible entry and detainer action may be used to terminate the possessory rights of a bona fide tenant in residential real estate. Orders of possession issued in the foreclosure proceeding will continue to be entered against the mortgagor. (3) Addresses the deficiency issue in the 2010 McGahan case as to what procedure the mortgagee must follow if a mortgagor dies. If the survivor holds a 100% interest in the property because the survivor is the deceased mortgagor’s surviving joint tenant or surviving tenant by the entirety, a special representative for the deceased mortgagor need not be appointed. Passed both chambers.

(Sosnowski, R-Rockford; Althoff, R-McHenry) deletes the requirement that the required notice for a text or map amendment to include a metes and bounds legal description of the property affected as long as the notice does include the common street address or addresses and property index number (“PIN”) of all the parcels of real property contained in the affected area. Passed both chambers.

(Collins, D-Chicago; Cassidy, D-Chicago) does three things. (1) Defines a “bona fide tenant” substantially consistent with the 2009 federal Protecting Tenants at Foreclosure Act. (2) Requires a petitioner to wait 90 days (unless the lease term is longer than 90 days) before a forcible entry and detainer action may be used to terminate the possessory rights of a bona fide tenant in residential real estate. Orders of possession issued in the foreclosure proceeding will continue to be entered against the mortgagor. (3) Addresses the deficiency issue in the 2010 McGahan case as to what procedure the mortgagee must follow if a mortgagor dies. If the survivor holds a 100% interest in the property because the survivor is the deceased mortgagor’s surviving joint tenant or surviving tenant by the entirety, a special representative for the deceased mortgagor need not be appointed. Passed both chambers.

Real estate documents and thumbprints. House Bill 2269 (Evans, D-Chicago; Napoleon Harris III) extends the sunset date for requiring a thumbprint of the transferor in a Cook County residential real estate transaction from July 1, 2013 to July 1, 2018. Passed the House and on third reading in the Senate.