For the purposes of this chapter, the following words and phrases shall have the meanings respectively ascribed to them by this section:
BLANKET ENCUMBRANCE: A trust deed, mortgage, judgment or other lien or encumbrance, including an option or contract to sell or a trust agreement affecting a condominium including any lien or other encumbrance arising as a result of the imposition of any tax assessment by a public authority.
BOARD OF MANAGERS: The board of managers provided and referred to in the Illinois condominium property act 1 .
CLOSING OF THE SALE: The operation of transferring ownership of a condominium unit to the purchaser from the developer.
COMMON ELEMENTS: All of the condominium except the condominium units. "Common elements" also includes limited common elements.
CONDOMINIUM: A form of property established pursuant to the Illinois condominium property act.
CONDOMINIUM PROJECT: The sale of or plan by a designer to sell, or the offering for sale of residential condominium units in an existing building or building to be constructed or under construction.
CONDOMINIUM UNIT OR UNIT: A separate, three-dimensional (3-D) area within the condominium identified as such in the declaration and on the condominium plat, and shall include all improvements contained within such area except those excluded in the declaration.
CONVERSION, CONVERT: The offering for sale by a developer or his agent of a condominium unit occupied or rented for any purpose by any person before commencement of a condominium project, which includes such unit.
DECLARATION: The declaration referred to in the Illinois condominium property act.
DEVELOPER: Any person who submits property legally or equitably owned by him to the provisions of the Illinois condominium property act including any successor to such developer's interest in the property; or any person who offers units legally or equitably owned by him for sale in the ordinary course of his business. "Developer" does not include a corporation owning and operating a cooperative apartment building, unless more than six (6) units are to be sold to persons other than current stockholders of the corporation.
OFFERING: Any inducement, solicitation, advertisement, publication or announcement by a developer to any person or the general public to encourage a person to purchase a condominium unit in a condominium or prospective condominium.
PERSON: A natural individual, corporation, partnership, trustee or other legal entity capable of holding title to real property.
PROPERTY REPORT: The property report required in accordance with section 6-6-4 of this chapter.
PROSPECTIVE PURCHASER: A person who visits the condominium project site for the purpose of inspection for possible purchase, or who requests the property report. (Ord. 78-33-84)
Notes
| 1 | 1. 765 ILCS 605/1 et seq. |
The provisions of this chapter shall apply to any existing building for which a declaration of condominium and plat of survey have not been filed with the county recorder or the county registrar of titles by the effective date hereof. Any party claiming that a building is not subject to the provisions of this chapter shall submit proof to the village manager that the declaration and plat were recorded prior to the effective date hereof. Said submittal shall include, but not be limited to, copies of said declaration and survey including the date stamp and document identification number provided by the county recorder or registrar of titles. (Ord. 78-33-84)
A. The quality control department shall administer this chapter and may adopt rules and regulations for the effective administration hereof. The quality control department is not responsible for the validity and completeness of any property reports required by this chapter, as originated by the developer.
B. It shall be the duty and responsibility of the developer who intends to offer a building for sale as a condominium to notify the department, in writing, of his intention to do so.
C. Whenever a residential building is converted to condominium ownership, a new certificate of occupancy shall be required for each condominium unit and for the common areas. Upon receipt of the developer's notice of intent to convert a residential building or part thereof to condominium ownership, the department of community development and growth management shall schedule a code compliance inspection of the condominium units and common elements. The compliance inspection shall identify any code deficiencies with respect to this title that are related to either the condominium units or the common elements. The developer shall promptly correct all such deficiencies. No certificate of occupancy shall be issued by the department of community development and growth management for any condominium unit until all code deficiencies have been corrected. (Ord. 78-33-84; 1985 Code; Ord. 08-04-15)
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