frequently asked questions main page
What are the rules on RADON disclosure?
Radon is an odorless and colorless gas that is linked to lung cancer.
Effective 1 January 2008 the Illinois Radon Awareness Act takes affect. The Illinois Radon Awareness Act requires two forms or documents.
First, sellers must provide purchasers with a fact sheet or pamphlet prepared by Illiois Emergency Management Agency that summarize radon-testing protocols. Either document, the pamphlet or fact sheet will meet the requirements of the Act
Second, the Illinois Radon Awareness Act requires sellers to provide purchasers with a disclosure form in which the seller discloses any awareness of radon levels in the property. Sellers who have questions about filling out the disclosure form should consult with their attorney.
The law does NOT require any radon test be performed.
The law applies to residential properties with "not less than one nor more than four residential dwelling units."
Sellers who have questions about filling out their disclosure form should consult with their attorney. There are some exemptions including residential real estate property transfers that result from the following:
(1) Transfers pursuant to court order,
(2) Certain transfers involving a mortgagor to a mortgagee, foreclosure or transfer by a collateral assignment of a beneficial interest of a land trust,
(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 co-owners.
(5) Transfers pursuant to testate or intestate succession.
(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.
NOTE: The answers above are intended to be a brief summaries of the law only. Parts of the answer may or MAY NOT be applicable to your situation and/or your local jurisdiction(s). Any information provided DOES NOT constitute legal advice and should be supplemented with the advice of an attorney licensed to practice law in your locality.
|Foreclosures | Condominiums | FAQs | Contact | Chicago Area Covered | Residential Real Estate | Commercial Real Estate | Closing Special | Wills | Corporations | Real Estate Agents ||