§ 1 This Act shall be known and may be cited as the “Senior Citizens Real …
§ 2 Definitions
§ 3 A taxpayer may, on or before March 1 of each year, apply to the …
§ 4 In the case of each tax deferral and recovery agreement entered into …
§ 5 The county collector shall note on his books each claim for deferral …
§ 6 All or any part of taxes deferred under this Act and the accrued …
§ 7 When any deferred taxes, including interest, are collected, the …
§ 8 Nothing in this Act (a) affects any provision of any mortgage or …

Terms Used In Illinois Compiled Statutes > 320 ILCS 30

  • Adjourn: A motion to adjourn a legislative chamber or a committee, if passed, ends that day's session.
  • Appraisal: A determination of property value.
  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
  • Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
  • Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
  • Legatee: A beneficiary of a decedent
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Person under legal disability: means a person 18 years or older who (a) because of mental deterioration or physical incapacity is not fully able to manage his or her person or estate, or (b) is a person with mental illness or is a person with developmental disabilities and who because of his or her mental illness or developmental disability is not fully able to manage his or her person or estate, or (c) because of gambling, idleness, debauchery or excessive use of intoxicants or drugs, so spends or wastes his or her estate as to expose himself or herself or his or her family to want or suffering. See Illinois Compiled Statutes 5 ILCS 70/1.06
  • Quorum: The number of legislators that must be present to do business.
  • Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
  • Surviving spouse: means "widow" or "widower" as the case may be. See Illinois Compiled Statutes 5 ILCS 70/1.32
  • Testify: Answer questions in court.