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New Radon Disclosure Law
November
11, 2007
House sellers need to inform house buyers of their knowledge
and testing of radon in their house beginning January 1,
2008. All Illinois residential real property sellers
will be required to complete a disclosure form which advises
the prospective house buyer as to whether or not the house
seller has knowledge and/or has ever tested for radon gas.
The structure of this law appears to be very similar to that
of the lead-based paint disclosure law where a disclosure
form is completed and the buyer is presented with a
pamphlet. In this case, the pamphlet is entitled "Radon
Testing Guidelines for Real Estate Transactions."
The Radon Disclosure act Act will
contain some exemptions such as transactions under a court
order, judicial deed, and from one co-owner to another. |






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