Environmental
The Illinois Responsible Property Transfer Act (IRPTA) requires disclosure of environmental conditions on certain commercial and industrial properties. Who is primarily responsible for providing this disclosure?
AThe buyer
BThe seller or transferor✓ Correct
CThe real estate broker
DIEPA
Explanation
Under the Illinois Responsible Property Transfer Act, the seller (transferor) of qualifying commercial and industrial properties must disclose known environmental conditions. This is separate from the residential disclosure requirements under the Illinois Residential Real Property Disclosure Act.
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