Contracts
Under the Illinois Residential Real Property Disclosure Act, which of the following properties is EXEMPT from disclosure requirements?
AA single-family home being sold by a corporation
BA condominium unit in Chicago
CA transfer by a court order, such as in a foreclosure or probate sale✓ Correct
DA duplex in which the owner occupies one unit
Explanation
The Illinois Residential Real Property Disclosure Act exempts certain transfers including those by court order (such as foreclosure sales, probate sales, or sales pursuant to bankruptcy proceedings), transfers by governmental or quasi-governmental entities, and transfers by a fiduciary in the course of administering a decedent's estate.
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