Illinois Compiled Statutes 60 ILCS 1/130-40 – Minimum amount of gift or legacy
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Terms Used In Illinois Compiled Statutes 60 ILCS 1/130-40
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Legacy: A gift of property made by will.
The board of managers may from time to time establish the minimum amount that will be received by gift or legacy for the use and maintenance of any lot in the cemetery, subject to approval by the township collector.