Illinois Compiled Statutes 755 ILCS 5/19-2 – Lease, sale, mortgage or pledge of personal estate of ward
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Terms Used In Illinois Compiled Statutes 755 ILCS 5/19-2
- 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
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
By leave of court a representative may lease, sell, mortgage or pledge any personal estate of the ward, when in the opinion of the court it is for the best interests of the ward or his estate.