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WBK Industry News - State Regulatory Developments

Illinois Revises Provisions Regarding Uniform Real Property Electronic Recording Act

Illinois modified its provisions regarding the Uniform Real Property Electronic Recording Act (“URPERA”) to augment the Illinois Electronic Recording Commission (“Commission”), which adopts standards to implement URPERA. The Commission now includes two real estate brokers or managing brokers licensed under the Real Estate Licensing Act of 2000. These provisions went into effect on January 1, 2017.

The Commission increased from 14 members to 16, and a quorum increased from eight to nine.  One of the new members will serve a term of two years while the other will serve a term of three years, to be determined by lot.

The amended provision of Illinois’s Uniform Real Property Electronic Recording Act can be found here: http://www.ilga.gov/legislation/publicacts/fulltext.asp?Name=099-0662.