Illinois Compiled Statutes > 770 ILCS 23 – Health Care Services Lien Act
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Terms Used In Illinois Compiled Statutes > 770 ILCS 23 - Health Care Services Lien Act
- Counterclaim: A claim that a defendant makes against a plaintiff.
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Deposition: An oral statement made before an officer authorized by law to administer oaths. Such statements are often taken to examine potential witnesses, to obtain discovery, or to be used later in trial.
- Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
- Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
- Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Mortgagee: The person to whom property is mortgaged and who has loaned the money.
- Plea: In a criminal case, the defendant's statement pleading "guilty" or "not guilty" in answer to the charges, a declaration made in open court.
- Service of process: The service of writs or summonses to the appropriate party.
- Venue: The geographical location in which a case is tried.