Illinois Compiled Statutes 735 ILCS 5/15-1213 – Real Estate
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Terms Used In Illinois Compiled Statutes 735 ILCS 5/15-1213
- Contract: A legal written agreement that becomes binding when signed.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
“Real estate” means land or any estate or interest in, over or under land (including minerals, air rights, structures, fixtures and other things which by custom, usage or law pass with a conveyance of land though not described or mentioned in the contract of sale or instrument of conveyance). “Mortgaged real estate” means the real estate which is the subject of a mortgage. “Real estate” includes a manufactured home as defined in subdivision (53) of § 9-102 of the Uniform Commercial Code that is real property as defined in the Conveyance and Encumbrance of Manufactured Homes as Real Property and Severance Act.