IL SB0071

Amends Section 9-102 of the Code of Civil Procedure regarding circumstances allowing restoration of possession of lands or tenements.

Modifies provisions for installment sales contracts on residential real estate entered into on or after July 1, 1987, making them subject to foreclosure under the Illinois Mortgage Foreclosure Law when the unpaid balance is less than 80% of the original purchase price at the time of filing the foreclosure complaint.

Replaces previous language that limited foreclosure to contracts where purchase price was payable over more than 5 years with new language referencing the Installment Sales Contract Act definition.

Clarifies that the 1993 amendments to this section are declarative of existing law.

Takes effect upon becoming law.