NEW LAWS REGARDING REAL ESTATE
In 2008 for State of Illinois
Hello all Sterling Illinois Homes buyers and sellers.
If you own a home and are planning to sell, or are buying a home in Illinois a recent change to Illinois law is of importance to you. Effective January 1, 2008, all sellers of residential property in Illinois must provide buyers with a completed Radon Disclosure Form. This form is much like the lead base form and provides for the seller to inform any potential buyer of any known information about the presence of radon in a home. This act is known as the Illinois Radon Awareness Act. Much of what is here is pretty scientific. In order to save time I have given you the quick version of this law as well as RADON. I have included links to the important details throughout this article. Please click on the BLUE links throughout to get the full facts. 
If you are making or are planning to make an offer on a property whether the home is in Sterling, Rock Falls, Dixon, or any other area of Illinois or the country for that matter, if you do not ask for a RADON test at time of offer, your opportunity may be lost. Be sure to consult your real estate agent for advice and the cost involved in a RADON test in your area.
So what is RADON? Radon is a radioactive element that is part of the radioactive decay chain of naturally occurring uranium in soil. Since RADON can't be seen, smelled or tasted it must be detected. High levels of RADON is believed to be a carcinogenic agent. Levels that fall above the USEPA action level for radon is 4.0 picocuries per liter of air (pCi/L). The risk of developing lung cancer at 4.0 pCi/L is estimated at about 7 lung cancer deaths per 1000 persons. That is why USEPA and IEMA recommends reducing your radon level if the concentration is 4.0 pCi/L or more.
There are several ways to TEST for RADON. The most effective is to hire a trained radon inspection service. They will have the experience, training and the equipment to conduct a controlled test. Your local Sterling Illinois Realtor can provide you the names of several companies that can provide you with this service. If you want a low cost simple test, kits are available in a number of places including most hardware stores.
So what do I do if my house tests above the action level of 4.0 pCi/L? Relax, all is not lost. You will want to consult a trained RADON MITIGATION SPECIALIST they are specially trained to install the needed equipment to bring the RADON to acceptable levels. Costs to cure run from around $800 up to several thousand. Once again, each area of the country is different on how a positive test result is handled.
This report once again is a quick version of RADON and the new Illinois law. Be sure that you consult your REALTOR or attorney when purchasing your home.
Information about this new law is available for consumers by clicking here.
I have attached the law below... HAPPY READING...
Brian Corwell
Sterling Illinois Homes for sale
Sterling, Illinois Real Estate for you
www.briancorwell.com
NUCLEAR SAFETY
(420 ILCS 46/) Illinois Radon Awareness Act
(420 ILCS 46/1)
Sec. 1. Short title. This Act may be cited as the Illinois Radon Awareness Act.
(Source: P.A. 95‑210, eff. 1‑1‑08.) |
(420 ILCS 46/5)
Sec. 5. Definitions. As used in this Act, unless the context otherwise requires:
(a) "Agent" means a licensed real estate "broker" or "salesperson", as those terms are defined in Section 1‑10 of the Real Estate License Act of 2000, acting on behalf of a seller or buyer of residential real property.
(b) "Buyer" means any individual, partnership, corporation, or trustee entering into an agreement to purchase any estate or interest in real property.
(c) "Final settlement" means the time at which the parties have signed and delivered all papers and consideration to convey title to the estate or interest in the residential real property being conveyed.
(d) "IEMA" means the Illinois Emergency Management Agency Division of Nuclear Safety.
(e) "Mitigation" means measures designed to permanently reduce indoor radon concentrations according to procedures described in 32 Illinois Administrative Code Part 422.
(f) "Radon hazard" means exposure to indoor radon concentrations at or in excess of the United States Environmental Protection Agency's, or IEMA's recommended Radon Action Level.
(g) "Radon test" means a measurement of indoor radon concentrations in accordance with 32 Illinois Administrative Code Part 422 for performing radon measurements within the context of a residential real property transaction.
(h) "Residential real property" means any estate or interest in a manufactured housing lot or a parcel of real property, improved with not less than one nor more than 4 residential dwelling units.
(i) "Seller" means any individual, partnership, corporation, or trustee transferring residential real property in return for consideration.
(Source: P.A. 95‑210, eff. 1‑1‑08.) |
(420 ILCS 46/10)
Sec. 10. Radon testing and disclosure.
(a) Except as excluded by Section 20 of this Act, the seller shall provide to the buyer of any interest in residential real property the IEMA pamphlet entitled "Radon Testing Guidelines for Real Estate Transactions" (or an equivalent pamphlet approved for use by IEMA) and the Illinois Disclosure of Information on Radon Hazards, which is set forth in subsection (b) of this Section, stating that the property may present the potential for exposure to radon before the buyer is obligated under any contract to purchase residential real property. Nothing in this Section is intended to or shall be construed to imply an obligation on the seller to conduct any radon testing or mitigation activities.
(b) The following shall be the form of Disclosure of Information on Radon Hazards to be provided to a buyer of residential real property as required by this Section:
DISCLOSURE OF INFORMATION ON RADON HAZARDS (For Residential Real Property Sales or Purchases)
Radon Warning Statement
Every buyer of any interest in residential real property is notified that the property may present exposure to dangerous levels of indoor radon gas that may place the occupants at risk of developing radon‑induced lung cancer. Radon, a Class‑A human carcinogen, is the leading cause of lung cancer in non‑smokers and the second leading cause overall. The seller of any interest in residential real property is required to provide the buyer with any information on radon test results of the dwelling showing elevated levels of radon in the seller's possession.
The Illinois Emergency Management Agency (IEMA) strongly recommends ALL homebuyers have an indoor radon test performed prior to purchase or taking occupancy, and mitigated if elevated levels are found. Elevated radon concentrations can easily be reduced by a qualified, licensed radon mitigator.
Seller's Disclosure (initial each of the following which applies)
(a).......... Elevated radon concentrations (above EPA or IEMA recommended Radon Action Level) are known to be present within the dwelling. (Explain)
(b).......... Seller has provided the purchaser with all available records and reports pertaining to elevated radon concentrations within the dwelling.
(c).......... Seller has no knowledge of elevated radon concentrations in the dwelling.
(d).......... Seller has no records or reports pertaining to elevated radon concentrations within the dwelling.
Purchaser's Acknowledgment (initial each of the following which applies)
(e).......... Purchaser has received copies of all information listed above.
(f).......... Purchaser has received the IEMA approved Radon Disclosure Pamphlet.
Agent's Acknowledgment (initial) (if applicable)
(g).......... Agent has informed the seller of the seller's obligations under Illinois law.
Certification of Accuracy
The following parties have reviewed the information above and each party certifies, to the best of his or her knowledge, that the information he or she provided is true and accurate.
Seller Date Seller Date
Purchaser Date Purchaser Date
Agent Date Agent Date
(c) If any of the disclosures required by this Section occurs after the buyer has made an offer to purchase the residential real property, the seller shall complete the required disclosure activities prior to accepting the buyer's offer and allow the buyer an opportunity to review the information and possibly amend the offer.
(Source: P.A. 95‑210, eff. 1‑1‑08.)
|
(420 ILCS 46/15)
Sec. 15. Applicability. This Act shall only apply to transfers by sale of residential real property.
(Source: P.A. 95‑210, eff. 1‑1‑08.) |
(420 ILCS 46/20)
Sec. 20. Exclusions. The provisions of this Act do not apply to the following:
(1) Transfers pursuant to court order, including, but |
| not limited to, transfers ordered by a probate court in administration of an estate, transfers between spouses resulting from a judgment of dissolution of marriage or legal separation, transfers pursuant to an order of possession, transfers by a trustee in bankruptcy, transfers by eminent domain, and transfers resulting from a decree for specific performance. |
|
(2) Transfers from a mortgagor to a mortgagee by deed |
| in lieu of foreclosure or consent judgment, transfer by judicial deed issued pursuant to a foreclosure sale to the successful bidder or the assignee of a certificate of sale, transfer by a collateral assignment of a beneficial interest of a land trust, or a transfer by a mortgagee or a successor in interest to the mortgagee's secured position or a beneficiary under a deed in trust who has acquired the real property by deed in lieu of foreclosure, consent judgment or judicial deed issued pursuant to a foreclosure sale. |
|
(3) Transfers by a fiduciary in the course of the |
| administration of a decedent's estate, guardianship, conservatorship, or trust. |
|
(4) Transfers from one co‑owner to one or more other |
|
(5) Transfers pursuant to testate or intestate |
|
(6) Transfers made to a spouse, or to a person or |
| persons in the lineal line of consanguinity of one or more of the sellers. |
|
(7) Transfers from an entity that has taken title to |
| residential real property from a seller for the purpose of assisting in the relocation of the seller, so long as the entity makes available to all prospective buyers a copy of the disclosure form furnished to the entity by the seller. |
|
(8) Transfers to or from any governmental entity.
(Source: P.A. 95‑210, eff. 1‑1‑08.) |
(420 ILCS 46/99)
Sec. 99. Effective date. This Act takes effect January 1, 2008.
(Source: P.A. 95‑210, eff. 1‑1‑08.) |
Comments(0)