§ 765 ILCS 115/0.01 Short title
§ 765 ILCS 115/1 Power to own real estate
§ 765 ILCS 115/2 Procedure to effect acts of ownership over real estate
§ 765 ILCS 115/3 Power to sue and defend
contract signature

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Terms Used In Illinois Compiled Statutes > 765 ILCS 115 - Property of Unincorporated Associations Act

  • Contract: A legal written agreement that becomes binding when signed.
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • 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
  • Legacy: A gift of property made by will.
  • Presiding officer: A majority-party Senator who presides over the Senate and is charged with maintaining order and decorum, recognizing Members to speak, and interpreting the Senate's rules, practices and precedents.
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.