For purposes of this chapter, the following definitions apply:
"Bona fide third-party purchaser" means any person who, through an arms length transaction, purchases, or is otherwise transferred title to, a foreclosed rental property from an owner. A "bona fide purchaser" shall not include any person who had a mortgage lien on the foreclosed rental property during the foreclose procedure. A mortgagee shall also include the mortgagee's subsidiary, parent, trustee, nominee, agent, or assignee.
"Commissioner" means the Commissioner of Housing, or the Commissioner's designee.
"Cooperative building" means a building or buildings and the tract, lot, or parcel on which the building or buildings are located and fee title to the land and building or buildings is owned by a corporation or other legal entity in which the shareholders or other co-owners each also have a long-term proprietary lease or other long-term arrangement of exclusive possession for a specific unit of occupancy space located within the same building or buildings.
"Dwelling unit", "rental agreement", "rent" and "tenant" have the meanings ascribed to those terms in Section 5-12-030.
"Foreclosed rental property" means:
(a) (1) a building containing one or more dwelling units that are used as rental units, including a single-family house; or
(2) a dwelling unit that is subject to either the Condominium Property Act or the Common Interest Community Association Act that is used as a rental unit;
(b) for which legal and equitable interests in the building or dwelling unit were terminated by a foreclosure action pursuant to the Illinois Mortgage Foreclosure Law; and
(c) one or more of the rental units are occupied on the date a person becomes the owner.
A "foreclosed rental property" does not include a dwelling unit in a cooperative building.
"Owner" means any person who alone, or jointly or severally with others, is: (a) pursuant to a judicial sale of a foreclosed rental property, the purchaser of the foreclosed rental property after the sale has been confirmed by the court; or (b) a mortgagee which has accepted a deed in lieu of foreclosure or consent foreclosure on a foreclosed rental property; or (c) a purchaser of the dwelling unit during the pendency of a foreclosure action pursuant to the Illinois Mortgage Foreclosure Law. "Owner" includes the owner and the owner's agent if the agent is responsible for managing, controlling, or collecting rents for the foreclosed rental property.
"Principal residence" means the primary residence of, and occupied on a regular basis by, a person who is a tenant.
"Qualified tenant" means a person who: (a) is a tenant in a foreclosed rental property on the day that a person becomes the owner of that property; and (b) has a bona fide rental agreement to occupy the rental unit as the tenant's principal residence. For purposes of this definition:
(1) a rental agreement shall be considered bona fide only if:
(i) the mortgagor, or any child, spouse, or parent of the mortgagor residing in the same dwelling unit with the mortgagor, is not the tenant;
(ii) the rental agreement was a result of an arms-length transaction; and
(iii) the rental agreement, at the time it was entered into, required the receipt of rent that was not substantially less than fair market rent for the property, or the rental unit's rent is reduced or subsidized due to a government subsidy.
(2) "Mortgagor" means: (i) the person whose interest in the real estate was the subject of a mortgage and that person's legal and equitable interests in the real estate was terminated by a foreclosure pursuant to the Mortgage Foreclosure Law, 735 ILCS 5/15-1101; or (ii) any person claiming any legal or equitable interest in the real estate through a mortgagor as a successor. Where a mortgage is executed by a trustee of a land trust, the mortgagor is the trustee and not the beneficiary or beneficiaries.
"Rental unit" means any dwelling unit which is held out for rent to tenants.
"Unlawful conversion" means any dwelling unit that is an illegal or unlawful conversion, as that term is defined in Section 17-17-0240.5.
"Unlawful hazardous unit" means a dwelling unit for which an order to vacate the dwelling unit, or the building in which the dwelling unit is located, has been issued by: (a) a judge of a court of competent jurisdiction; or (b) a person authorized to issue an order to vacate pursuant to Section 14A-3-307, or any other applicable section, of the Code. "Unlawful hazardous unit" also means a dwelling unit as to which a proceeding is pending in a court of competent jurisdiction for an order to vacate or close the dwelling unit or the building in which the dwelling unit is located.
(Added Coun. J. 7-21-21, p. 32835, § 2)