Contracts
In Illinois, the attorney review period for a residential real estate contract is typically:
A24 hours after signing
B5 business days after signing
CA period negotiated between the parties, typically 5 business days✓ Correct
DThere is no statutory attorney review period in Illinois
Explanation
Illinois does not have a statutory attorney review period. However, many standard Illinois residential contracts (such as the Multi-Board Residential Real Estate Contract) include a negotiated attorney review period, commonly 5 business days, during which either party's attorney may approve, disapprove, or modify the contract.
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