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Disclose, disclose, disclose. The Illinois Radon Awareness Act becomes effective January 1, 2008. As of January 1, 2008, anyone who sells residential real property (housing structure with 1-4 units) must give a prospective buyer two radon related documents:
1. A disclosure form in which the seller discloses any awareness of high radon levels in the home.
2. A pamphlet entitled, "Radon Testing Guidelines for Real Estate Transactions".
The pamphlet will be provided by the Illinois Emergency Management Agency, Division of Nuclear Safety.
Although the new law does not require sellers to test for radon in the home or to reduce the concentration if elevated levels are found, the seller and buyer are free to negotiate whether further testing or remediation are necessary.
The law only applies to residential properties with “not less than one nor more than four residential dwelling units.” There are some exemptions including residential real estate property transfers that result from the following:
- A court order
- Transfer to a mortgagor to a mortgagee after foreclosure
- To a fiduciary through an estate, guardianship, conservatorship or trust
- A transfer between co-workers
- A transfer from an estate according to provisions in a will, or to statue where there is no will
- Transfer to a spouse or other blood relation
- A relocation company who has taken the title, where the original seller has provided the required disclosures
- To or from a governmental body
In addition, since the law is not effective until January 1, 2008, it only applies to residential transactions entered on or after this date. If you have a contract pending that was signed prior to January 1, 2008, the law will not apply.
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