5-14-030 Exclusions.

This chapter shall not apply to: (a) an owner of a foreclosed rental property who was the owner prior to the effective date of this chapter;

(b) any bona fide third-party purchaser;

(c) a person appointed as a receiver and issued, or assigned, a Receiver's Certificate under 65 ILCS 5/11-31-2 or 765 ILCS 605/14.5 who becomes an owner due to the foreclosure on the Receiver's Certificate;

(d) an owner who will occupy the rental unit as the person's principal residence;

(e) a bona fide not-for-profit in existence continuously for a period of five years immediately prior to becoming the owner of the rental unit and whose purpose is provide financing for the purchase or rehabilitation of affordable housing.

Back to Protecting Tenants at Foreclosures or the RLTO.

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