IL HB2646

Amends the Condominium Property Act to modify lien provisions for unpaid common expenses, limiting liability for purchasers at judicial foreclosure sales to 9 months of regular assessments plus related attorney's fees and court costs, rather than all unpaid assessments.

Requires the Board of Managers to make disclosure documents available to prospective purchasers within 15 days of request, including declarations, bylaws, financial statements, reserve fund status, and insurance information.

Adds new disclosure requirement for units transferred through judicial foreclosure, consent foreclosure, common law strict foreclosure, or deed in lieu of foreclosure, stating the total amount due under the lien provisions.

Maintains existing requirements for budgets and reserves adopted after July 1, 1990, while preserving the ability of associations to waive reserve requirements by 2/3 vote, with mandatory disclosure of such waivers.

Clarifies that foreclosure sale notices must inform purchasers of their obligation to pay amounts authorized under Sections 9(g)(1) and 9(g)(4), and that assessment account statements and disclosure documents must include this information.