Illinois Compiled Statutes 765 ILCS 122/5 – Validity; effect on other instruments
Current as of: 2024 | Check for updates
|
Other versions
(a) An environmental covenant that complies with this Act runs with the land.
(b) An environmental covenant that is otherwise effective is valid and enforceable even if:
(1) It is not appurtenant to an interest in real
(b) An environmental covenant that is otherwise effective is valid and enforceable even if:
Terms Used In Illinois Compiled Statutes 765 ILCS 122/5
- Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
- Contract: A legal written agreement that becomes binding when signed.
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- State: when applied to different parts of the United States, may be construed to include the District of Columbia and the several territories, and the words "United States" may be construed to include the said district and territories. See Illinois Compiled Statutes 5 ILCS 70/1.14
(1) It is not appurtenant to an interest in real
|
property.
|
(2) It can be or has been assigned to a person other
|
than the original holder.
|
(3) It is not of a character that has been recognized
|
traditionally at common law.
|
(4) It imposes a negative burden.
(5) It imposes an affirmative obligation on a person
(5) It imposes an affirmative obligation on a person
|
having an interest in the real property or on the holder.
|
(6) The benefit or burden does not touch or concern
|
real property.
|
(7) There is no privity of estate or contract.
(8) The holder dies, ceases to exist, resigns, or is
(8) The holder dies, ceases to exist, resigns, or is
|
replaced.
|
(9) The owner of an interest subject to the
|
environmental covenant and the holder are the same person.
|
(c) An instrument that creates restrictions or obligations with respect to real property that would qualify as activity and use limitations except for the fact that the instrument was recorded before the effective date of this Act is not invalid or unenforceable because of any of the limitations on enforcement of interests described in subsection (b) or because it was identified as an easement, servitude, deed restriction, or other interest. This Act does not apply in any other respect to such an instrument.
(d) This Act does not invalidate or render unenforceable any interest, whether designated as an environmental covenant or other interest, that is otherwise enforceable under the law of this State, including but not limited to interests compliant with 35 Ill. Adm. Code 742, Subpart J.
(d) This Act does not invalidate or render unenforceable any interest, whether designated as an environmental covenant or other interest, that is otherwise enforceable under the law of this State, including but not limited to interests compliant with 35 Ill. Adm. Code 742, Subpart J.