735 ILCS 5/15-1225

Current through Public Act 103-1052

Section 735 ILCS 5/15-1225 - Residential real estate in foreclosure

For purposes of Sections 9-207.5, 15-1224, 15-1506, 15-1508, and 15-1701 of this Code only, the term "residential real estate in foreclosure" means any real estate, except a single tract of agricultural real estate consisting of more than 40 acres, which is improved with a single family residence or residential condominium units or a multiple dwelling structure containing single family dwelling units for one or more families living independently of one another, for which an action to foreclose the real estate:

(1) has commenced and is pending;

(2) was pending when the bona fide lease was entered into or renewed; or

(3) was commenced after the bona fide lease was entered into or renewed.

735 ILCS 5/15-1225

Added by P.A. 098-0514,§ 5, eff. 11/19/2013.