Illinois Condominium Property Act

ILLINOIS CONDOMINIUM PROPERTY ACT (765 ILCS 605/1, et seq. )

(g) "Unit Owner" means the person or persons whose estates or interests, individually or collectively, aggregate fee simple absolute ownership of a unit, or, in the case of a leasehold condominium, the lessee or lessees of a unit whose leasehold ownership of the unit expires simultaneously with the lease described in item (x) of this Section. (h) "Majority" or "majority of the unit owners" means the owners of more than 50% in the aggregate in interest of the undivided ownership of the common elements. Any specified percentage of the unit owners means such percentage in the aggregate in interest of such undivided ownership. "Majority" or "majority of the members of the board of managers" means more than 50% of the total number of persons constituting such board pursuant to the bylaws. Any specified percentage of the members of the board of managers means that percentage of the total number of persons constituting such board pursuant to the bylaws. (i) "Plat" means a plat or plats of survey of the parcel and of all units in the property submitted to the provisions of this Act, which may consist of a three- dimensional horizontal and vertical delineation of all such units. (j) "Record" means to record in the office of the recorder or, whenever required, to file in the office of the Registrar of Titles of the county wherein the property is located. (k) "Conversion Condominium" means a property which contains structures, excepting those newly constructed and intended for condominium ownership, which are, or have previously been, wholly or partially occupied before recording of condominium instruments by persons other than those who have contracted for the purchase of condominiums. (l) "Condominium Instruments" means all documents and authorized amendments thereto recorded pursuant to the provisions of the Act, including the declaration, bylaws and plat. (m) "Common Expenses" means the proposed or actual expenses affecting the property, including reserves, if any, lawfully assessed by the Board of Managers of the Unit Owner's Association. (n) "Reserves" means those sums paid by unit owners which are separately maintained by the board of managers for purposes specified by the board of managers or the condominium instruments. (o) "Unit Owners' Association" or "Association" means the association of all the unit owners, acting pursuant to bylaws through its duly elected board of managers. (p) "Purchaser" means any person or persons other than the Developer who purchase a unit in a bona fide transaction for value. (q) "Developer" means any person who submits property legally or equitably owned in fee simple by the developer, or leased to the developer under a lease described in item (x) of this Section, to the provisions of this Act, or any person who offers units legally or equitably owned in fee simple by the developer, or leased to the developer under a lease described in item (x) of this Section, for sale in the ordinary course of such person's business, including any successor or

INTRODUCTION Originally drafted in 1963, and extensively and frequently revised since, the Illinois Condominium Property Act is the primary document governing condominium associations. Portions of this Act may even take precedence over the Declaration of an association. Note that this statute only applies to those associations submitted to the Act. You can tell if an association has been submitted to the Act by looking at the title of the Declaration for the association. If it has the words "Declaration of Condominium" in the title, you have come to the right place. If it says "Declaration of Covenants", or anything else other than "Condominium", see Section II for the Common Interest Community Association Act. Master Associations are subject to Section 18.5 of the Illinois Condominium Property Act. FULL TEXT (as of January 1, 2022): Title: An Act concerning the ownership in and rights and responsibilities of parties under the condominium form of ownership of property. Section 1. Short title. This Act shall be known and may be cited as the "Condominium Property Act." Section 2. Definitions. As used in this Act, unless the context otherwise requires: (a) "Declaration" means the instrument by which the property is submitted to the provisions of this Act, as hereinafter provided, and such declaration as from time to time amended. (b) "Parcel" means the lot or lots, tract or tracts of land, described in the declaration, submitted to the provisions of this Act. (c) "Property" means all the land, property and space comprising the parcel, all improvements and structures erected, constructed or contained therein or thereon, including the building and all easements, rights and appurtenances belonging thereto, and all fixtures and equipment intended for the mutual use, benefit or enjoyment of the unit owners, submitted to the provisions of this Act. (d) "Unit" means a part of the property designed and intended for any type of independent use. (e) "Common Elements" means all portions of the property except the units, including limited common elements unless otherwise specified. (f) "Person" means a natural individual, corporation, partnership, trustee or other legal entity capable of holding title to real property.

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