For a three-minute summary of the legal obligations regarding radon disclosure, members can watch the “Legal Minutes – Radon Disclosure Requirements” video featuring Illinois REALTORS® Director of Legal Services Betsy Urbance.
According to the Illinois Radon Awareness Act, most homeowners who want to sell their property will need to complete a radon disclosure form and share it with prospective buyers, says Urbance. Owners will disclose and provide the most current records they may have related to radon test results or mitigation actions.
She also discusses some common exceptions to the radon disclosure form requirement.
To download radon disclosure forms, Illinois REALTORS® can login and go to this page www.illinoisrealtor.org/downloads and look for the residential (422) and rental (422L) versions.
In the September issue of Designated REALTOR® Legal News, two disciplinary actions are cited from 2017 Illinois Department of Financial and Professional Regulation files.
The disciplines typically involve license revocations, suspensions or probation, though some involve fines. The two examples cited were:
- A real estate broker license was indefinitely suspended and fined $1,000 due to listing a property without the authorization of all the property owners.
- A real estate broker license was revoked for violating the terms of a consent order.
For more details, visit the disciplinary reports page of the IDFPR site.
Illinois REALTORS® advocated and achieved five changes to the Illinois Real Estate License Act during the 2017 Legislative Session. Read about this and more in the September DR Legal News.
The statutory changes take effect Jan. 1, 2018. Stay tuned to Illinois REALTORS® for guidance and rules regarding the implementation of the new provisions. In a nutshell, the changes should simplify and modernize continuing education, protect consumers, provide needed changes to help managing brokers oversee their licensees who encounter disciplinary proceedings, and increase efficiency at the Illinois Department of Financial and Professional Regulation.
The infographic will help managing brokers explain the changes to their brokers.
In the September issue of Designated REALTOR® Legal News, Lisa Harms Hartzler of Sorling Northrup Attorneys provides analysis of six legal case studies, including a 5-3 Supreme Court decision regarding the Takings Clause in the Fifth Amendment to the U.S. Constitution.
Summaries of the case studies included:
- U.S. Supreme Court drafts new test for 5th Amendment Takings claims.
- Nuisance claim based only on aesthetic dislike of solar panels was not actionable.
- Grocery store’s website found in violation of ADA.
- Broker not liable for misrepresentation where Buyer had the same information.
- Broker potentially liable for fraudulent actions of agent.
- Company formed to maintain private dam did not have to replace it.
Find out more about these legal case studies.
During the first six months of 2017, the Illinois REALTORS® Legal Hotline received the most questions about agency issues, according to the September issue of Designated REALTOR® Legal News.
The second most popular category of questions was contracts to purchase, followed by: the scope of the Illinois Real Estate License Act (RELA), advertising and RELA business practices, reported Betsy Urbance, Illinois REALTORS® Director of Legal Services. Read sample questions and their answers with just a couple clicks of your mouse.
Check out the September Designated REALTOR® Legal News.