Surrender or Merger of Reversion Act (765 ILCS 335/)

Chapter 765 — Property

Future Interests

This text is maintained by the Legislative Reference Bureau for legislative drafting purposes and is NOT the official text of the Illinois Compiled Statutes; the only official copy is the printed copy maintained by the Secretary of State.

Sec. 0.01. Short title

This Act may be cited as the Surrender or Merger of Reversion Act.

(Source: P.A. 86-1324.)

Sec. 1.

When the reversion expectant on a lease, made either before or after the passing of this act, of tenements or hereditaments of any tenure, shall be surrendered or merged, the estate, which shall for the time being confer as against the tenant under the same lease the next vested right to the same tenements or hereditaments, shall, to the extent and for the purpose of preserving such incidents to, and obligations on the same reversion, as but for the surrender or merger thereof, would have subsisted, be deemed the reversion expectant on the same lease.

(Source: P.A. 84-1308.)