§ 39-45 – Authority to acquire and hold real estate.
39-45. Authority to acquire and hold real estate. Business trusts are hereby authorized and empowered to acquire real estate and interests therein and to hold the same in their trust names and may sue and be sued in their trust names. (1977, c. 768, s. 1.)
§ 39-46 – Title vested; conveyance; probate.
39-46. Title vested; conveyance; probate. (a) Where real estate has been or may be hereafter conveyed to a business trust in its trust name or in the names of its trustees in their capacity as trustees of such business trust, the said title shall vest in said business trust, and the said real estate and […]
§ 39-47 – Prior deeds validated.
39-47. Prior deeds validated. All deeds, leases, mortgages, deeds of trust or other conveyances heretofore executed in conformity with this Article and which are proper in all other respects are declared to be sufficient to pass title to real estate held by such business trusts in accordance with the provisions of such instruments. (1977, c. […]
§ 39-50 – Death, illness, or conviction of certain crimes not a material fact.
39-50. Death, illness, or conviction of certain crimes not a material fact. In offering real property for sale it shall not be deemed a material fact that the real property was occupied previously by a person who died or had a serious illness while occupying the property or that a person convicted of any crime […]
§ 39-60 – Property tax proration on sale of real property.
39-60. Property tax proration on sale of real property. Unless otherwise provided by contract, property taxes on the real property being sold shall be prorated between the seller and buyer of the real property on a calendar-year basis. (2006-106, s. 7.)
§ 39-38 – Uniformity of interpretation.
39-38. Uniformity of interpretation. This Article shall be so interpreted and construed as to effectuate its general purpose to make uniform the law of those states which enact it. (1959, c. 514.)
§ 39-39 – Risk of loss.
39-39. Risk of loss. Any contract hereafter made in this State for the purchase and sale of realty shall be interpreted as including an agreement that the parties shall have the following rights and duties, unless the contract expressly provides otherwise: (1) If, when neither the legal title nor the possession of the subject matter […]
§ 39-44 – Definition.
39-44. Definition. The term "business trust" whenever used or referred to in this Article shall mean any unincorporated association, including an Illinois land trust, a Delaware statutory trust, or a Massachusetts business trust, engaged in any business or trade under a written instrument or declaration of trust under which the beneficial interest therein is divided […]
§ 39-23.11A – Relation to Electronic Signatures in Global and National Commerce Act.
39-23.11A. Relation to Electronic Signatures in Global and National Commerce Act. This Article modifies, limits, or supersedes the Electronic Signatures in Global and National Commerce Act, 15 U.S.C. Section 7001 et seq., but does not modify, limit, or supersede Section 101(c) of that act, 15 U.S.C. Section 7001(c), or authorize electronic delivery of any of […]
§ 39-23.12 – Short title.
39-23.12. Short title. This Article, which was formerly cited as the Uniform Fraudulent Transfer Act, may be cited as the Uniform Voidable Transactions Act. (1997-291, s. 2; 2015-23, s. 1.)