093_SB1352eng SB1352 Engrossed LRB093 04114 LCB 04154 b 1 AN ACT concerning condominiums. 2 Be it enacted by the People of the State of Illinois, 3 represented in the General Assembly: 4 Section 5. The Condominium Property Act is amended by 5 changing Sections 2 and 3 as follows: 6 (765 ILCS 605/2) (from Ch. 30, par. 302) 7 Sec. 2. Definitions. As used in this Act, unless the 8 context otherwise requires: 9 (a) "Declaration" means the instrument by which the 10 property is submitted to the provisions of this Act, as 11 hereinafter provided, and such declaration as from time to 12 time amended. 13 (b) "Parcel" means the lot or lots, tract or tracts of 14 land, described in the declaration, submitted to the 15 provisions of this Act. 16 (c) "Property" means all the land, property and space 17 comprising the parcel, all improvements and structures 18 erected, constructed or contained therein or thereon, 19 including the building and all easements, rights and 20 appurtenances belonging thereto, and all fixtures and 21 equipment intended for the mutual use, benefit or enjoyment 22 of the unit owners, submitted to the provisions of this Act. 23 (d) "Unit" means a part of the property designed and 24 intended for any type of independent use. 25 (e) "Common Elements" means all portions of the property 26 except the units, including limited common elements unless 27 otherwise specified. 28 (f) "Person" means a natural individual, corporation, 29 partnership, trustee or other legal entity capable of holding 30 title to real property. 31 (g) "Unit Owner" means the person or persons whose SB1352 Engrossed -2- LRB093 04114 LCB 04154 b 1 estates or interests, individually or collectively, aggregate 2 fee simple absolute ownership of a unit, or, in the case of a 3 leasehold condominium, the lessee or lessees of a unit whose 4 leasehold ownership of the unit expires simultaneously with 5 the lease described in item (x) of this Section. 6 (h) "Majority" or "majority of the unit owners" means 7 the owners of more than 50% in the aggregate in interest of 8 the undivided ownership of the common elements. Any 9 specified percentage of the unit owners means such percentage 10 in the aggregate in interest of such undivided ownership. 11 "Majority" or "majority of the members of the board of 12 managers" means more than 50% of the total number of persons 13 constituting such board pursuant to the bylaws. Any 14 specified percentage of the members of the board of managers 15 means that percentage of the total number of persons 16 constituting such board pursuant to the bylaws. 17 (i) "Plat" means a plat or plats of survey of the parcel 18 and of all units in the property submitted to the provisions 19 of this Act, which may consist of a three-dimensional 20 horizontal and vertical delineation of all such units. 21 (j) "Record" means to record in the office of the 22 recorder or, whenever required, to file in the office of the 23 Registrar of Titles of the county wherein the property is 24 located. 25 (k) "Conversion Condominium" means a property which 26 contains structures, excepting those newly constructed and 27 intended for condominium ownership, which are, or have 28 previously been, wholly or partially occupied before 29 recording of condominium instruments by persons other than 30 those who have contracted for the purchase of condominiums. 31 (l) "Condominium Instruments" means all documents and 32 authorized amendments thereto recorded pursuant to the 33 provisions of the Act, including the declaration, bylaws and 34 plat. SB1352 Engrossed -3- LRB093 04114 LCB 04154 b 1 (m) "Common Expenses" means the proposed or actual 2 expenses affecting the property, including reserves, if any, 3 lawfully assessed by the Board of Managers of the Unit 4 Owner's Association. 5 (n) "Reserves" means those sums paid by unit owners 6 which are separately maintained by the board of managers for 7 purposes specified by the board of managers or the 8 condominium instruments. 9 (o) "Unit Owners' Association" or "Association" means 10 the association of all the unit owners, acting pursuant to 11 bylaws through its duly elected board of managers. 12 (p) "Purchaser" means any person or persons other than 13 the Developer who purchase a unit in a bona fide transaction 14 for value. 15 (q) "Developer" means any person who submits property 16 legally or equitably owned in fee simple by the developer, or 17 leased to the developer under a lease described in item (x) 18 of this Section, to the provisions of this Act, or any person 19 who offers units legally or equitably owned in fee simple by 20 the developer, or leased to the developer under a lease 21 described in item (x) of this Section, for sale in the 22 ordinary course of such person's business, including any 23 successor or successors to such developers' entire interest 24 in the property other than the purchaser of an individual 25 unit. 26 (r) "Add-on Condominium" means a property to which 27 additional property may be added in accordance with 28 condominium instruments and this Act. 29 (s) "Limited Common Elements" means a portion of the 30 common elements so designated in the declaration as being 31 reserved for the use of a certain unit or units to the 32 exclusion of other units, including but not limited to 33 balconies, terraces, patios and parking spaces or facilities. 34 (t) "Building" means all structures, attached or SB1352 Engrossed -4- LRB093 04114 LCB 04154 b 1 unattached, containing one or more units. 2 (u) "Master Association" means an organization described 3 in Section 18.5 whether or not it is also an association 4 described in Section 18.3. 5 (v) "Developer Control" means such control at a time 6 prior to the election of the Board of Managers provided for 7 in Section 18.2(b) of this Act. 8 (w) "Meeting of Board of Managers or Board of Master 9 Association" means any gathering of a quorum of the members 10 of the Board of Managers or Board of the Master Association 11 held for the purpose of conducting board business. 12 (x) "Leasehold Condominium" means a property submitted 13 to the provisions of this Act which is subject to a lease, 14 the expiration or termination of which would terminate the 15 condominium and the lessor of which is (i) exempt from 16 taxation under Section 501(c)(3) of the Internal Revenue Code 17 of 1986, as amended, (ii) a limited liability company whose 18 sole member is exempt from taxation under Section 501 (c)(3) 19 of the Internal Revenue Code of 1986, as amended, or (iii) a 20 Public Housing Authority created pursuant to the Housing 21 Authorities Act that is located in a municipality having a 22 population in excess of 1,000,000 inhabitants. 23 (Source: P.A. 88-417; 88-626, eff. 9-9-94; 89-89, eff. 24 6-30-95.) 25 (765 ILCS 605/3) (from Ch. 30, par. 303) 26 Sec. 3. Submission of property. Whenever the owner or 27 owners in fee simple, or the sole lessee or all lessees of a 28 lease described in item (x) of Section 2, of a parcel intend 29 to submit such property to the provisions of this Act, they 30 shall do so by recording a declaration, duly executed and 31 acknowledged, expressly stating such intent and setting forth 32 the particulars enumerated in Section 4. If the condominium 33 is a leasehold condominium, then every lessor of the lease SB1352 Engrossed -5- LRB093 04114 LCB 04154 b 1 creating a leasehold interest as described in item (x) of 2 Section 2 shall also execute the declaration and such lease 3 shall be recorded prior to the recording of the declaration. 4 The execution of a declaration required under this 5 Section by the lessor under a lease as described in item (x) 6 of Section 2 does not make the lessor a developer for 7 purposes of this Act. 8 (Source: P.A. 89-89, eff. 6-30-95.) 9 Section 99. Effective date. This Act takes effect upon 10 becoming law.