Illinois Real Estate Escrow Law Changes as of January 1

HS 1361/Public Act 95-0851 amends the Real Estate License Act of 2000. Provides for the transfer by a licensee under the Act to the Office of the State Treasurer of escrow moneys, prior to the consummation or termination of a transaction, at the end of a 6-month time period when, in the absence of the filing of any claim in a court of competent jurisdiction, the principals to the transaction have remained in a continuous and uninterrupted dispute during that 6-month period.