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Illinois · State License Law — free study notes for the real estate licensing exam.
🏛️ State License Law 📍 IllinoisSellers of residential property in Illinois must complete the Residential Real Property Disclosure Report, disclosing known material defects in the property before the buyer is obligated under a contract. Licensees must disclose their agency relationship to consumers and cannot conceal known latent material defects. Illinois also requires disclosure of certain known conditions such as lead-based paint hazards in pre-1978 homes and, where applicable, radon awareness information.
Yes. State License Law is a scored domain on the Illinois real estate licensing exam, and this topic appears in the state license-law portion.
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Illinois applies its own license law on top of the national portion. This page covers the Illinois rules specifically, which is what the state section of your exam tests.