210 ILCS 40/5.2

Current through Public Act 103-1056

Section 210 ILCS 40/5.2 - [Effective 1/1/2025] Living unit reappropriation

If an unoccupied living unit is contemplated for use for a purpose other than as a living unit, including, but not limited to, an exam room or a storage room, and if there exist beneficiaries awaiting an entry fee refund, the beneficiaries of the entry fee refund must provide a signed acknowledgment of, and agreement to, the reappropriation that may be in effect up to a specific date. The reappropriation acknowledgment shall include:

(1) the caption, "ENTRY FEE REFUND DELAYS: CONSUMER NOTICE" in at least 28-point font and the remaining portion in at least a 12-point font;

(2) the caption, "Your agreement to this arrangement may result in the delayed sale of the living unit as well as the delayed return of the entry fee."; and

(3) a statement that the rights provided under this Section may not be waived.

210 ILCS 40/5.2

Added by P.A. 103-0812,§ 5, eff. 1/1/2025.