This chapter applies to all improved residential, commercial and industrial properties (hereinafter “real property”), transferred from one party to another by any means of conveyance, including but not limited to deeds, articles of agreement for deeds, or an assignment of beneficial interest in a land trust (hereinafter “transfer”), for good and valuable consideration, other than nominal consideration, within the corporate limits of the city. Included in the scope of this chapter are transfers of title by sheriff’s deeds, tax deeds, deeds in lieu of foreclosure, transfers pursuant to foreclosure proceedings and transfers to the United States Department of Housing and Urban Development or the United States Veterans Administration. However, this chapter does not apply to transfers involving only vacant land, transfers of title made without valuable consideration and transfers made pursuant to orders issued by local, state or federal courts other than those specifically included above.
(Ord. 96-22, passed 5-14-1996)