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 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
 
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 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.
 
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 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
 
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 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
 
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 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.