Illinois Compiled Statutes > 70 ILCS 1930 – Southwest Suburban Railroad Redevelopment Authority Act
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Terms Used In Illinois Compiled Statutes > 70 ILCS 1930 - Southwest Suburban Railroad Redevelopment Authority Act
- Appraisal: A determination of property value.
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Bridge: means any bridge over or across a river, including any bridges on the approaches thereto to eliminate intersection at grade with any street, tunnel, public road, thoroughfare, highway, railroad or street railroad, where the complete project is located entirely within the State;
(2) "Net Revenue" means the gross revenue of a bridge less the reasonable cost of operating, maintaining, and repairing the bridge;
(3) "United States" means the United States of America and any agent or agency thereof;
(4) "Holder" means the holder or holders of any of the bonds issued under this Division of this Article. See Illinois Compiled Statutes 605 ILCS 5/10-701 - Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Intestate: Dying without leaving a will.
- Legacy: A gift of property made by will.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Plaintiff: The person who files the complaint in a civil lawsuit.
- Sole ownership: The type of property ownership in which one individual holds legal title to the property and has full control of it.