Illinois Compiled Statutes 765 ILCS 77/55 – Violations and damages
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Terms Used In Illinois Compiled Statutes 765 ILCS 77/55
- Contract: A legal written agreement that becomes binding when signed.
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
If the seller fails or refuses to provide the disclosure report prior to the conveyance of the residential real property, the prospective buyer shall have the right to terminate the contract. A seller who knowingly violates or fails to perform any duty prescribed by any provision of this Act or who discloses any information on the Residential Real Property Disclosure Report that the seller knows to be false shall be liable in the amount of actual damages and court costs, and the court may award reasonable attorney’s fees incurred by the prevailing party.