For purposes of this chapter, the following words and phrases shall have the meanings respectively ascribed to them by this section:
ACT: The Illinois condominium act as set forth in 765 Illinois Compiled Statutes 605/1 et seq., as amended.
AGENT: Any person, firm, partnership, association, joint venture, corporation or any other entity or combination of entities who represents or acts for or on behalf of a developer in selling or offering for sale any condominium unit, excepting therefrom, an escrow officer acting on behalf of a title company.
BOARD OF MANAGERS: The board of managers described in the act.
CLOSING OF SALE: The operation of transferring ownership of a condominium unit and a proportionate share of the common elements to a prospective purchaser from the developer thereof, and the same shall include the transfer of said property through a deed of conveyance, articles of agreement for warranty deed or the transfer of the beneficial interest in a land trust.
CODES: All community development ordinances, rules and regulations of the village, as amended, including, but not by way of limitation, those pertaining to the physical structure of buildings, plumbing, heating, electrical and cooling installations and elevators and off street parking facilities, landscaping and amenities such as swimming pools, tennis courts and other amenities.
COMMON ELEMENTS:
A. Common Elements: All portions of the property except the condominium units, including limited common elements unless otherwise specified.
B. Limited Common Elements: A portion of the common elements so designated in the declaration as being reserved for the use of a certain condominium unit or units to the exclusion of other condominium units, including, but not limited to, balconies, terraces, patios and parking spaces or facilities.
CONDOMINIUM: A form of property established pursuant to the act.
CONDOMINIUM CONVERSION: A property which contains structures, excepting those newly constructed and intended for condominium ownership, which are, or have previously been, wholly or partially occupied before recording of condominium instruments by persons other than those who have contracted for the purchase of condominium units.
CONDOMINIUM PROJECT: A plan by a developer to sell, or the sale of "property" as herein defined, whether through conversion and submission to condominium status or by initial submission of property to condominium status under the provisions of the act.
CONDOMINIUM UNIT: A part of the property designed and intended for any type of independent use.
DECLARATION: The instrument by which the property is submitted to the provisions of the act.
DEVELOPER: Any person who submits property legally or equitably owned by him to the provisions of the act, or any person who offers condominium units legally or equitably owned by him for sale in the ordinary course of his business, including any successor or successors to such developer's entire interest in the property, other than the purchaser of an individual condominium unit.
ENCUMBRANCE: A trust deed, mortgage, judgment or other item of encumbrance, including an option or contract to sell, affecting a condominium, including any lien or other encumbrance arising as a result of the imposition of any tax assessment by a public authority.
OFFERING: Any inducement, solicitation, advertisement, publication or announcement to the general public to encourage any person to acquire a condominium unit or a prospective condominium unit.
PERSON: A natural person, corporation, trustee, partnership or other legal entity or any combination thereof which is capable of holding title to real property.
PLAT: A plat of plats or survey of the parcel and of all condominium units in the property submitted to the provisions of the act which may consist of a three-dimensional horizontal and vertical delineation of all such condominium units.
PROPERTY: All the land, property and space comprising the parcel, all improvements and structures erected, constructed or contained therein or thereon, including the building and all easements, rights and appurtenances belonging thereto, and all fixtures and equipment intended for the mutual use, benefit or enjoyment of the unit owners submitted to the provisions of the act.
PROPERTY REPORT: The property report required by subsection 8-2-3A of this chapter.
PROSPECTIVE PURCHASER: Any person who requests the "property report" as defined herein or who visits the condominium project site for the purpose of inspection for possible purchase.
PURCHASER: Any person or persons, other than the developer, who purchase a unit in a bona fide transaction for value.
SALE: The act of soliciting, advertising or offering for sale a "condominium unit" or units as hereinbefore defined.
SITE: Any land on which a condominium or any part thereof is located.
UNIT OWNER: The person or persons whose estates or interests, individually or collectively, aggregate fee simple absolute ownership of a condominium unit.
UNIT OWNERS' ASSOCIATION OR ASSOCIATION: The association of all the unit owners acting pursuant to bylaws through its duly elected board of managers.
VILLAGE: The village of Woodridge, DuPage, Will and Cook Counties, Illinois. (Ord. 2013-29, 6-13-2013)