Illinois Senate Bill 2894 (Prior Session Legislation)

---

Completed Legislative Action
Spectrum: Partisan Bill (Democrat 4-0)
Status: Failed on January 9 2019 - 100% progression
Action: 2019-01-09 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]

Amends the Mortgage Foreclosure Article of the Code of Civil Procedure in relation to short sales of property. Provides that, if an offer to purchase either a mortgage or residential property is made by an entity with a tax-exempt filing status under Section 501(c)(3) of the Internal Revenue Code or an entity that controls, is controlled by, or is under common control with an entity with such tax-exempt filing status, no mortgagee may require, as a condition of sale or transfer to any such entity, any affidavit, statement, agreement, or addendum limiting ownership or occupancy of the residential property by the mortgagor and, if obtained, the affidavit, statement, agreement, or addendum does not provide a basis to avoid a sale or transfer nor is it enforceable against the acquiring entity or any real estate broker, mortgagor, or settlement agent named in the affidavit, statement, or addendum. Effective immediately.

CIV PRO-SHORT SALE RESALE

Sen. Jacqueline Collins [D]

Sen. Cristina Castro [D]

Sen. Iris Martinez [D]

Sen. Emil Jones [D]

Date	Chamber	Action
2019-01-09	Senate	Session Sine Die
2018-04-13	Senate	Rule 3-9(a) / Re-referred to Assignments
2018-04-11	Senate	Postponed - Financial Institutions
2018-03-13	Senate	Added as Chief Co-Sponsor Sen. Emil Jones, III
2018-02-21	Senate	Assigned to Financial Institutions
2018-02-20	Senate	Added as Chief Co-Sponsor Sen. Iris Y. Martinez
2018-02-20	Senate	Added as Chief Co-Sponsor Sen. Cristina Castro
2018-02-14	Senate	Referred to Assignments
2018-02-14	Senate	First Reading
2018-02-14	Senate	Filed with Secretary by Sen. Jacqueline Y. Collins

Chapter	Article	Section	Citation Type	Statute Text
735	5	15-1401.1	Amended Code	Citation Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=2894&GAID=14&DocTypeID=SB&SessionID=91&GA=100
Text	https://www.ilga.gov/legislation/100/SB/10000SB2894.htm