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IL HB5714
Bill
Status
Failed
1/8/2013
Primary Sponsor
LaShawn Ford
Click for details
AI Summary
- Amends the Real Estate Appraiser Licensing Act by adding Section 10-25 regarding appraisal practices
- Prohibits licensed residential real estate appraisers from using judicial sale prices as comparable sales in appraisals for residential properties
- Restriction applies to judicial sales occurring within 12 months after the sale date under Article XV of the Code of Civil Procedure
- Section expires and is repealed 5 years after the effective date of the legislation
Legislative Description
REAL ESTATE APPRAISER LIC-SALE
Last Action
Session Sine Die
1/8/2013
Committee Referrals
Rules2/16/2012
Full Bill Text
No bill text available