Fill - RESIDENTIAL REAL PROPERTY DISCLOSURE REPORT

RESIDENTIAL REAL PROPERTY DISCLOSURE REPORT

NOTICE: THE PURPOSE OF THIS REPORT IS TO PROVIDE PROSPECTIVE BUYERS WITH INFORMATION ABOUT

MATERIAL DEFECTS IN THE RESIDENTIAL REAL PROPERTY. THIS REPORT DOES NOT LIMIT THE PARTIES’ RIGHT

TO CONTRACT FOR THE SALE OF RESIDENTIAL REAL PROPERTY IN “AS IS” CONDITION. UNDER COMMON LAW,

SELLERS WHO DISCLOSE MATERIAL DEFECTS MAY BE UNDER A CONTINUING OBLIGATION TO ADVISE THE

PROSPECTIVE BUYERS ABOUT THE CONDITION OF THE RESIDENTIAL REAL PROPERTY EVEN AFTER THE REPORT

IS DELIVERED TO THE PROSPECTIVE BUYER. COMPLETION OF THIS REPORT BY SELLER CREATES LEGAL

OBLIGATIONS ON SELLER; THEREFORE, THE SELLER MAY WISH TO CONSULT AN ATTORNEY PRIOR TO

COMPLETION OF THIS REPORT.

Property Address:

City, State, Zip:

Seller’s Name:

This report is a disclosure of certain conditions of the residential real property listed above in compliance with the Residential Real

Property Disclosure Act. This information is provided as of

, and does not reflect any changes made or

(Date)

occurring after that date or information that becomes known to the seller after that date. The disclosures herein shall not be deemed

warranties of any kind by the seller or any person representing any party in this transaction.

In this form, “am aware” means to have actual notice or actual knowledge without any specific investigation or inquiry. In this form, a

“material defect” means a condition that would have a substantial adverse effect on the value of the residential real property or that

wou

ld significantly impair the health or safety of future occupants of the residential real property unless the seller reasonabl

y believes

that the condition has been corrected.

The seller discloses the following information with the knowledge that even though the statements herein are not deemed to be

warranties, prospective buyers may choose to rely on this information in deciding whether or not and on what terms to purchase the

residential real property.

The seller represents that to the best of his or her actual knowledge, the following statements have been accurately noted as “yes”

(correct), “no” (incorrect), or “not applicable” to the property being sold. If the seller indicates that the response to any

statement,

except number 1, is “yes” or “not applic

able,” the seller shall provide an explanation in the additional information area of this form.

Seller has occupied the property within the last 12 months. (No explanation is needed.)

YES NO N/A

I am aware of flooding or recurring leakage problems in the crawl space or basement.

YES NO N/A

I am aware that the property is located in a flood plain or that I currently have flood hazard

insurance on the property.

YES NO N/A

I am aware of material defects in the basement or foundation (including cracks and bulges).

YES NO N/A

I am aware of leaks or material defects in the roof, ceilings, or chimney.

YES NO N/A

I am aware of material defects in the walls, windows, doors, or floors.

YES NO N/A

I am aware of material defects in the electrical system.

YES NO N/A

I am aware of material defects in the plumbing system (includes such things as water heater, sump

pump, water treatment system, sprinkler system, and swimming pool).

YES NO N/A

I am aware of material defects in the well or well equipment.

YES NO N/A

10.

I am aware of unsafe conditions in the drinking water.

YES NO N/A

11.

I am aware of material defects in the heating, air conditioning, or ventilating systems.

YES NO N/A

12.

I am aware of material defects in the fireplace or wood burning stove.

YES NO N/A

ATG FORM 4038

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FOR USE IN: IL

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13.

I am aware of material defects in the septic, sanitary sewer, or other disposal system.

YES NO N/A

14.

I am aware of unsafe concentrations of radon on the premises.

YES NO N/A

15.

I am aware of unsafe concentrations of or unsafe conditions relating to asbestos on the premises.

YES NO N/A

16.

I am aware of unsafe concentrations of or unsafe conditions relating to lead paint, lead water pipes,

lead plumbing pipes, or lead in the soil on the premises.

YES NO N/A

17.

I am aware of mine subsidence, underground pits, settlement, sliding, upheaval, or other earth

stability defects on the premises.

YES NO N/A

18.

I am aware of current infestations of termites or other wood-boring insects.

YES NO N/A

19.

I am aware of a structural defect caused by previous infestations of termites or other wood-boring

insects.

YES NO N/A

20.

I am aware of underground fuel storage tanks on the property.

YES NO N/A

21.

I am aware of boundary or lot line disputes.

YES NO N/A

22.

I have received notice of violation of local, state, or federal laws or regulations relating to this

property, which violation has not been corrected.

YES NO N/A

23.

I am aware that this property has been used for the manufacture of methamphetamine as defined in

Section 10 of the Methamphetamine Control and Community Protection Act.

YES NO N/A

NOTE: These disclosures are not intended to cover the common elements of a condominium, but only the actual residential real

property including limited common elements allocated to the exclusive use thereof that form an integral part of the condomini

um unit.

NOTE: These disclosures are intended to reflect the current condition of the premises and do not include previous problems, if any,

that the seller reasonably believes have been corrected.

If any of the above are marked “not applicable” or “yes,” please explain here or use additional pages, if necessary:

Check here if additional pages are used:

ATG FORM 4038

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FOR USE IN: IL

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Seller certifies that seller has prepared this statement and certifies that the information provided is based on the actual notice or actual

knowledge of the seller without any specific investigation or inquiry on the part of the seller. The seller hereby authorizes

any person

representing any principal in this transaction to provide a copy of this report, and to disclose any information

in the report, to any

person in connection with any actual or anticipated sale of the property.

Seller’s Signature

Date

THE PROSPECTIVE BUYER IS AWARE THAT THE PARTIES MAY CHOOSE TO NEGOTIATE AN AGREEMENT FOR THE

SALE

OF THE PROPERTY SUBJECT TO ANY OR ALL MATERIAL DEFECTS DISCLOSED IN THIS REPORT (“AS IS”).

THIS DISCLOSURE IS NOT A SUBSTITUTE FOR ANY INSPECTIONS OR WARRANTIES THAT THE PROSPECTIVE

BUYER OR SELLER MAY WISH TO OBTAIN OR NEGOTIATE. THE FACT THAT THE SELLER

IS NOT AWARE OF A

PARTICULAR CONDITION OR PROBLEM IS NO GUARANTEE THAT IT DOES NOT EXIST. THE PROSPECTIVE BUYER

IS AWARE THAT HE/SHE/THEY MAY REQUEST AN INSPECTION OF THE PREMISES PERFORMED BY A QUALIFIED

PROFESSIONAL.

Prospective Buyer’s Signature

Date

Time

Date

Time

* * *

ALL TERMS AND PROVISIONS OF THE RESIDENTIAL REAL PROPERTY DISCLOSURE ACT (AS SET FORTH

REVERSE) ARE INCORPORATED INTO AND MADE A PART OF THIS RESIDENTIAL REAL PROPERTY

DISCLOSURE REPORT.

ATG FORM 4038

This form provided by Attorneys’ Title Guaranty Fund, Inc.

FOR USE IN: IL

Page 3 of 4

RESIDENTIAL REAL PROPERTY DISCLOSURE ACT

Section 1. Short title. This Act may be cited as the Residential Real Property Disclosure Act.

Section 5. Definitions. As used in this Act, unless the context otherwise requires the following terms have the meaning given in this Section.

“Residential real property” means real property improved with not less than one nor more than four residential dwelling units; units in residential cooperatives; or,

condominium units, including the limited common elements allocated to the exclusive use thereof that form an integral part of the condominium unit.

“Seller” means every person or entity who is an owner, beneficiary of a trust, contract purchaser or lessee of a ground lease, who has an interest (legal or equitable) in

residential real property. However, “seller” shall not include any person who has both (i) never occupied the residential real property and (ii) never had the management

responsibility for the residential real property nor delegated such responsibility for the residential real property to another person or entity.

“Prospective buyer” means any person or entity negotiating or offering to become an owner or lessee of residential real property by means of a transfer for value to

which this Act applies.

Section 10. Except as provided in Section 15, this Act applies to any transfer by sale, exchange, installment land sale contract, assignment of beneficial interest, lease

with an option to purchase, ground lease, or assignment of ground lease of residential real property.

Section 15. 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 or 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.

(9) Transfers of newly constructed residential real property that has not been occupied.

Section 20. A seller of residential real property shall complete all applicable items in the disclosure document described in Section 35 of this Act. The seller shall

deliver to the prospective buyer the written disclosure statement required by this Act before the signing of a written agreement by the seller and prospective buyer that

would, subject to the satisfaction of any negotiated contingencies, require the prospective buyer to accept a transfer of the residential real property.

Section 25. Liability of seller. (a) The seller is not liable for any error, inaccuracy, or omission of any information delivered pursuant to this Act if (i) the seller had no

knowledge of the error, inaccuracy, or omission, (ii) the error, inaccuracy, or omission was based on a reasonable belief that a material defect or other matter not

disclosed had been corrected, or (iii) the error, inaccuracy, or omission was based on information provided by a public agency or by a licensed engineer, land surveyor,

structural pest control operator, or by a contractor about matters within the scope of the contractor’s occupation and the seller had no knowledge of the error,

inaccuracy, or omission.

(b) The seller shall disclose material defects of which the seller has actual knowledge.

(c) The seller is not obligated by this Act to make any specific investigation or inquiry in an effort to complete the disclosure statement.

Section 30. Disclosure supplement. If prior to closing, any seller has actual knowledge of an error, inaccuracy, or omission in any prior disclosure document after

delivery of that disclosure document to a prospective buyer, that seller shall supplement the prior disclosure document with a written supplemental disclosure.

Section 35. Disclosure report form. The disclosures required of a seller by this Act, shall be made in the following form:

Section 40. Material defect. If a material defect is disclosed in the Residential Real Property Disclosure Report after acceptance by the prospective buyer of an offer or

counteroffer made by a seller or after the execution of an offer made by a prospective buyer that is accepted by the seller for the conveyance of the residential real

property, then the prospective buyer may, within three business days after receipt of that report by the prospective buyer, terminate the contract or other agreement

without any liability or recourse except for the return to prospective buyer of all earnest money deposits or down payments paid by prospective buyer in the transaction.

If a material defect is disclosed in a supplement to this disclosure document, the prospective buyer shall not have a right to terminate unless the material defect results

from an error, inaccuracy, or omission of which the seller had actual knowledge at the time the prior disclosure document was completed and signed by the seller. The

right to terminate the contract, however, shall no longer exist after the conveyance of the residential real property. For purposes of this Act the termination shall be

deemed to be made when written notice of termination is personally delivered to at least one of the sellers identified in the contract or other agreement or when

deposited, certified or registered mail, with the United States Postal Service, addressed to one of the sellers at the address indicated in the contract or agreement, or, if

there is not an address contained therein, then at the address indicated for the residential real property on the report.

Section 45. This Act is not intended to limit or modify any obligation to disclose created by any other statute or that may exist in common law in order to avoid fraud,

misrepresentation, or deceit in the transaction.

Section 50. Delivery of the Residential Real Property Disclosure Report provided by this Act shall be by:

(1) personal or facsimile delivery to the prospective buyer;

(2) depositing the report with the United States Postal Service, postage prepaid, first class mail, addressed to the prospective buyer at the address provided by the

prospective buyer or indicated on the contract or other agreement, or

(3) depositing the report with an alternative delivery service such as Federal Express, UPS, or Airborne, delivery charges prepaid, addressed to the prospective buyer at

the address provided by the prospective buyer or indicated on the contract or other agreement.

For purposes of this Act, delivery to one prospective buyer is deemed delivery to all prospective buyers. Delivery to authorized individual acting on behalf of a

prospective buyer constitutes delivery to all prospective buyers. Delivery of the report is effective upon receipt by the prospective buyer. Receipt may be acknowledged

on the report, in an agreement for the conveyance of the residential real property, or shown in any other verifiable manner.

Section 55. Violations and damages. If the seller fails or refuses to provide the disclosure document prior to the conveyance of the residential real property, the buyer

shall have the right to terminate the contract. A person who knowingly violates or fails to perform any duty prescribed by any provision of this Act or who discloses any

information on the Residential Real Property Disclosure Report that he knows to be false shall be liable in the amount of actual damages and court costs, and the court

may award reasonable attorney fees incurred by the prevailing party.

Section 60. No action for violation of this Act may be commenced later than one year from the earlier of the date of possession, date of occupancy, or date of recording

of an instrument of conveyance of the residential real property.

Section 65. A copy of this Act, excluding Section 35, must be printed on or as a part of the Residential Real Property Disclosure Report form.

Section 99. This Act takes effect on October 1, 1994.

ATG FORM 4038

This form provided by Attorneys’ Title Guaranty Fund, Inc.

FOR USE IN: IL

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