Sec. 21-285. Tax scavenger sale fraud; definitions.

143 words·~1 min read·/il/chapter-35/act-200/21-285

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Sec. 21-285. Tax scavenger sale fraud; definitions. For purposes of Section 21-290:

(1)"Ownership interest" means any title or other interest in property, including

without limitation any beneficial interest in a land trust, the holder of which is considered to be the owner of the property for purposes of taxation under Section 9-175.

(2)"Nonownership interest" means any interest in real property other than a contingent

interest and other than an ownership interest as defined in this Section, including without limitation a mortgage, equitable mortgage or other interest in the nature of a mortgage, leasehold, easement, or lien.

(3)"Real property" has the same meaning as defined in Section 1-130, and includes

leasehold estates subject to taxation as property under Section 9-195.

(4)"Beneficial interest" and "land trust" have the meanings given to those terms in the

Land Trust Beneficial Interest Disclosure Act.