Public Act 98-0996 (IL)

Condo Board Lease

 

Effective date: 1/1/2015

Statutes Amended: 735 ILCS 5/9-111.1

 

The Act amends the Forcible Entry and Detainer Article of the Code of Civil Procedure to provide that upon entry of judgment in favor of a condominium board of managers for possession of a condominium unit, the board may lease the unit to a bona fide tenant for a term that commences any time within 8 months after the date of the expiration of the stay of the judgment, and may not exceed 13 months after the commencement of the lease. Furthermore, the Act permits the board of managers, upon motion and with noticed to the dispossessed unit owner, to extend the lease by a term no longer than 13 months.

 

Bill Number: 
HB 4782
By: ATG Underwriting Department | Posted on: Mon, 04/06/2015 - 1:33pm