Environmental
Which of the following is an Illinois-specific environmental disclosure requirement for real estate?
ASellers must disclose the location of all utility easements on the property
BSellers of certain industrial properties must provide a document disclosure statement under the Illinois Responsible Property Transfer Act (IRPTA)✓ Correct
CAll sellers must provide a Phase I environmental assessment
DSellers must pay for lead paint testing in all homes built before 1978
Explanation
The Illinois Responsible Property Transfer Act (IRPTA) requires sellers of certain industrial and commercial properties that have generated, transported, or disposed of hazardous substances to provide a document disclosure statement describing environmental conditions prior to transfer.
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