Resale disclosure
- Statute:
- Illinois §22.1 · Act CPA (Condominium Property Act (765 ILCS 605))
- Topic:
- Records & Disclosure · Resale packet
- Applies to:
- Condo associations
On any resale by an owner other than the developer, the seller must get from the board and make available to the buyer: the instruments and rules; a statement of unpaid assessments and other charges; capital expenditures planned this year or next; reserve status; last fiscal-year financials; pending suits or judgments; insurance the association provides; a good-faith statement on prior alterations; and the name and address of the principal officer or agent who will answer questions. The board must provide the packet on demand.
📄 Read the official text at ilga.gov →
How SoShiny helps with Resale disclosure
SoShiny gives every owner instant, permissioned access to the official records this statute requires — searchable, audit-logged, and exportable for state inspections. The records survive every board turnover because they live in one place, not in someone's inbox.
See the feature → Start freeFrequently asked
- What does Illinois §22.1 require?
- On any resale by an owner other than the developer, the seller must get from the board and make available to the buyer: the instruments and rules; a statement of unpaid assessments and other charges; capital expenditures planned this year or next; reserve status; last fiscal-year financials; pending suits or judgments; insurance the association provides; a good-faith statement on prior alterations; and the name and address of the principal officer or agent who will answer questions. The board must provide the packet on demand.
- Who does Illinois §22.1 apply to?
- Illinois §22.1 applies to Condo associations in Illinois.
- What happens if our condo doesn't comply with §22.1?
- Non-compliance can expose the association and individual directors to disputes in the governing forum for Illinois community associations. SoShiny's audit trail and documented workflows are designed to demonstrate good-faith compliance.
- Where can I read the official text of Illinois §22.1?
- The official text is published by the Illinois General Assembly at ilga.gov. The summary on this page is for plain-English reference only and is not legal advice.
- How does SoShiny help with Resale disclosure?
- SoShiny gives every owner instant, permissioned access to the official records this statute requires — searchable, audit-logged, and exportable for state inspections. The records survive every board turnover because they live in one place, not in someone's inbox. Learn more →
Not legal advice. This page is a plain-English summary of Illinois §22.1 prepared by SoShiny for board members and managers. For binding legal advice or interpretation, consult a Illinois-licensed attorney. For the official statutory text, see the link above.
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