Illinois Compiled Statutes 420 ILCS 46/5 – Definitions
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As used in this Act, unless the context otherwise requires:
“Agent” means a licensed real estate “broker” or “salesperson”, as those terms are defined in Section 1-10 of the Real Estate License Act of 2000, acting on behalf of a seller or buyer of residential real property.
“Buyer” means any individual, partnership, corporation, or trustee entering into an agreement to purchase any estate or interest in real property.
“Dwelling unit” means a room or suite of rooms used for human habitation. “Dwelling unit” includes a mobile home, a single family residence, each living unit in a multiple family residence, and each living unit in a mixed use building.
“Final settlement” means the time at which the parties have signed and delivered all papers and consideration to convey title to the estate or interest in the residential real property being conveyed.
“Lease” means an oral or written agreement under which a lessor allows a tenant to use the property for a specified rent and period of time.
“Lessor” means any person or entity that leases a dwelling unit to a tenant. “Lessor” includes, but is not limited to, an individual, company, corporation, firm, group, association, partnership, joint venture, trust, government agency, or subdivision thereof.
“IEMA” means the Illinois Emergency Management Agency Division of Nuclear Safety.
“Mitigation” means measures designed to permanently reduce indoor radon concentrations according to procedures described in 32 Illinois Administrative Code Part 422.
“Mobile home” has the meaning given to that term in § 10 of the Manufactured Home Quality Assurance Act.
“Radon” means a gaseous radioactive decay product of uranium or thorium.
“Radon contractor” means a person licensed under the Radon Industry Licensing Act to perform radon mitigation or measurement in an indoor atmosphere.
“Radon hazard” means exposure to indoor radon concentrations at or in excess of the United States Environmental Protection Agency’s, or IEMA’s recommended Radon Action Level.
“Radon test” means a measurement of indoor radon concentrations in accordance with 32 Illinois Administrative Code Part 422 for performing radon measurements.
“Residential real property” means any estate or interest in a manufactured housing lot or a parcel of real property, improved with not less than one nor more than 4 residential dwelling units.
“Seller” means any individual, partnership, corporation, or trustee transferring residential real property in return for consideration.
“Tenant” means a person who has entered into an oral or written lease with a lessor to lease a dwelling unit.
“Agent” means a licensed real estate “broker” or “salesperson”, as those terms are defined in Section 1-10 of the Real Estate License Act of 2000, acting on behalf of a seller or buyer of residential real property.
Terms Used In Illinois Compiled Statutes 420 ILCS 46/5
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- individual: shall include every infant member of the species homo sapiens who is born alive at any stage of development. See Illinois Compiled Statutes 5 ILCS 70/1.36
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- Trustee: A person or institution holding and administering property in trust.
- United States: may be construed to include the said district and territories. See Illinois Compiled Statutes 5 ILCS 70/1.14
“Buyer” means any individual, partnership, corporation, or trustee entering into an agreement to purchase any estate or interest in real property.
“Dwelling unit” means a room or suite of rooms used for human habitation. “Dwelling unit” includes a mobile home, a single family residence, each living unit in a multiple family residence, and each living unit in a mixed use building.
“Final settlement” means the time at which the parties have signed and delivered all papers and consideration to convey title to the estate or interest in the residential real property being conveyed.
“Lease” means an oral or written agreement under which a lessor allows a tenant to use the property for a specified rent and period of time.
“Lessor” means any person or entity that leases a dwelling unit to a tenant. “Lessor” includes, but is not limited to, an individual, company, corporation, firm, group, association, partnership, joint venture, trust, government agency, or subdivision thereof.
“IEMA” means the Illinois Emergency Management Agency Division of Nuclear Safety.
“Mitigation” means measures designed to permanently reduce indoor radon concentrations according to procedures described in 32 Illinois Administrative Code Part 422.
“Mobile home” has the meaning given to that term in § 10 of the Manufactured Home Quality Assurance Act.
“Radon” means a gaseous radioactive decay product of uranium or thorium.
“Radon contractor” means a person licensed under the Radon Industry Licensing Act to perform radon mitigation or measurement in an indoor atmosphere.
“Radon hazard” means exposure to indoor radon concentrations at or in excess of the United States Environmental Protection Agency’s, or IEMA’s recommended Radon Action Level.
“Radon test” means a measurement of indoor radon concentrations in accordance with 32 Illinois Administrative Code Part 422 for performing radon measurements.
“Residential real property” means any estate or interest in a manufactured housing lot or a parcel of real property, improved with not less than one nor more than 4 residential dwelling units.
“Seller” means any individual, partnership, corporation, or trustee transferring residential real property in return for consideration.
“Tenant” means a person who has entered into an oral or written lease with a lessor to lease a dwelling unit.