For the purpose of this chapter, whenever any of the following words, terms or definitions are used herein, they shall have the meanings ascribed to them in this section:
BENEFICIAL INTEREST: | Any interest, regardless of how small or minimal such interest may be, in a land trust, held by a trustee for the beneficiaries of such land trust. |
PERSON: | Any natural individual, firm, partnership, association, joint stock company, joint venture, public or private corporation, or a receiver, executor, trustee, conservator or other representative appointed by order of any court. |
RECORDATION: | The recording of deeds with the office of the Cook County Clerk, Illinois. |
VALUE: | The amount of the full actual consideration for any transfer covered hereunder, including the amount of any lien or liens assumed by the grantee or purchaser. (Ord. M-19-13, 10-7-2013; amd. Ord. M-7-22, 2-7-2022) |