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User:Knightcrawler900/Illinois Condominium Property Act

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Illinois Condominium Property Act ...


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The Illinois Condominium Property Act is the law in Illinois governing how condominium associations should operate. In August 2009, a manager licensing component was added.

The sections of the Act are as follows: 


1.       Short title.
2.       Definitions
3.       Submission of property
4.       Declaration - contents.
4.1     Constructions, interpretations and validity of Condominium Instruments
5.       Plat to be recorded.
6.       Recording - effect.
7.      Descriptions in deeds, etc.
8.      Partition of common elements prohibited.
9.      Sharing of expenses - lien for nonpayment
9.1    Other liens
9.2    Other remedies.
9.3    Eminent domain proceedings - standing
9.4    Eminent domain proceedings - notice

10. Separation taxation 11. Tax deeds 12. Insurance 12.1 Insurance risk pooling trusts 13. Application of insurance proceeds to reconstruction 14. Disposition of property where insurance proceeds are insufficient for reconstruction 14.1 Disposition or removal of any portion of the property 14.2 Street and utilities dedication 14.3 Granting of easement for laying of cable television cable. 14.4 Granting of easement to a governmental body for protection against water damage or erosion. 14.5 Distressed condominium property 15. Sale of property. 16. Removal from provisions of this Act 17. Amendments to the declaration or bylaws 18. Contents of the bylaws 18.1 The owner or owners of the property, or the board of managers may cause to be incorporated a not for profit corporation ounder the General Not For Profit Corporation Act of the State of Illinois for the purpose of facilitating the administration and operation of the property. 18.2 Administration of the property prior to electing of initial board of managers. 18.3 Unit Owners' Association 18.4 Power and Duties of Board of Managers. 18.5 Master Associations 18.6 Display of American flag or military flag 18.7 Standards for community association managers 19. Records of the Association; availability for examination 20. Exemption from rules of property 21. Severability. 22. Full disclosure before sale 22.1 In the event of any resale of a condominium unit by a unit owner other than the developer such owner shall obtain from the Board of Managers and shall make available for inspection to the prospective purchaser, upon demand, the following. 23. Encroachments 24. Deposits byPurchaser. 25. Add-on Condominiums. 26. Transfer of Limited Common Elements 27. If there is any unit owner other than the developer, the condominium instruments shall be amended only as follows 29. Alterations within Units. 30. No real estate may be submitted to the provisions of the Act as a conversion Condominium... 30.5 Conversion of apartments. 31. Subdivision or combination of units. 32. alternat dispute resolution; mediation; arbitration.

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