Illinois Compiled Statutes > 65 ILCS 60 – Delinquent Special Assessment Act
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Terms Used In Illinois Compiled Statutes > 65 ILCS 60 - Delinquent Special Assessment Act
- Forbearance: A means of handling a delinquent loan. A
- Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. Source: OCC
- Lien: A claim against real or personal property in satisfaction of a debt.
- 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.
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.