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Terms Used In Illinois Compiled Statutes 765 ILCS 407/5

  • Trustee: A person or institution holding and administering property in trust.
     If the identity of the trustee of a land trust has been changed by virtue of sale, assignment, appointment, or otherwise, but the beneficial owner or owners of the land trust remain unchanged, the rights of the beneficial owner or owners shall in no way be impaired by the change of trustees.
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