Bond for Deed Government and Legislative Advocacy, August 1994 - October 1994

Documents include existing Illinois state ordinance in regards to regulation of sales of dwelling structure by installment sales contracts and the history of the ordinance, related laws; a proposal for contract for deed reform from Illinois state Senator Rosson; and a memo from the Illinois Governor Jim Edgar's office regarding the legislation put forth by state Representative Wyvetter Younge (D-East St. Louis) specifically to require the seller of real estate property by installment contract to provide proper notices, tax bills concerning the property being transferred to the purchaser, and that the contract be recorded, lest the contract seller assume liability for any damages resulting in failure to record the contract. The document from the Governor's office also includes a brief bill analysis. Additional law review resources.