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Protection for Apartment Renters Living in Foreclosed Buildings
Apartment dwellers are enjoying a little more protection under a law that applies if their building goes into foreclosure.

The act, which is an amendment to the state Code of Civil Procedure, provides:

* When a mortgagee, typically a bank, takes possession of a property with residential tenants in it through foreclosure, the new owner must notify the tenants of the change of ownership, and provide contact information for maintenance and repair requests. The new owner must maintain the property.

* The tenants cannot be held liable by the new owner for rent paid to the old owner, prior to notification of the change.

* Under Illinois law, an entity that takes over a property through foreclosure can throw the tenants out by terminating their leases. However, tenants will have at least 30 days to comply with an eviction order if it's due to foreclosure.

* The new owner cannot increase the rent without court approval.

* The provisions also apply to a receiver who is appointed to manage a property during foreclosure litigation.

Nationally, 40 percent of the households facing loss of housing due to foreclosure are renters, according to the National Low-Income Housing Coalition.

This measure, H.B. 3863, was sponsored by State Rep. William D. Burns (D-Chicago) and State Sen. Jacqueline Collins (D-Chicago). Key interest-group negotiators were Housing Action Illinois and the Illinois Bankers Association.

(Illinois Radio Network)
11 01 09 by Newsroom
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