Chapter 765 — PROPERTY

(765 ILCS 940/999) Sec. 999. Effective date. This Act takes effect January 1, 2007. (Source: P.A. 94-822, eff. 1-1-07.)

(765 ILCS 945/1) Sec. 1. Short title. This Act may be cited as the Reverse Mortgage Act. (Source: P.A. 99-331, eff. 1-1-16.)

(765 ILCS 945/10) Sec. 10. Reverse mortgages. (a) Reverse mortgage loans shall be subject to all of the following provisions: (1) Payment, in whole or in part, shall be permitted without penalty at any time during the term of the mortgage. (2) A reverse mortgage may provide for a…

(765 ILCS 945/15) Sec. 15. Reverse mortgage disclosures. (a) The Office of the Attorney General shall develop the content and format of an educational document providing independent consumer information regarding reverse mortgages, potential alternatives to reverse mortgages, and…

(765 ILCS 945/20) Sec. 20. Reverse mortgages cooling-off period. (a) Any written commitment provided by the lender to the borrower must contain the material terms and conditions of the reverse mortgage. That commitment may be subject to a satisfactory appraisal and the borrower m…

(765 ILCS 945/25) Sec. 25. Reverse mortgages; restriction on cross-selling. No lender may: (1) require the purchase of an annuity, investment, life insurance, or long-term care insurance product as a condition of obtaining a reverse mortgage loan; however, nothing in this paragra…

(765 ILCS 945/30) Sec. 30. Reverse mortgages; restriction on distribution of loan proceeds. No person, other than a borrower's spouse or partner, who directly or indirectly facilitates, processes, negotiates, assists, encourages, arranges, or otherwise induces consumers to take o…

(765 ILCS 945/35) Sec. 35. Reverse mortgages; certification requirements. (a) No reverse mortgage commitment may be made unless all lenders involved in brokering and making the reverse mortgage loan certify, in writing, that: (1) the borrower has received from the lender the educ…

(765 ILCS 945/40) Sec. 40. Enforcement. (a) Any violation of this Act shall also be considered an unlawful practice under the Consumer Fraud and Deceptive Business Practices Act. Only the Attorney General may enforce violations of this Act. The Attorney General shall only find a …

(765 ILCS 945/5) Sec. 5. General definitions. As used in this Act, unless the context otherwise requires: "Borrower" means a natural person who seeks or obtains a reverse mortgage. "Business day" means any calendar day except Saturday, Sunday, or a State or federal holiday. "Home…

(765 ILCS 945/900) Sec. 900. (Amendatory provisions; text omitted). (Source: P.A. 99-331, eff. 1-1-16; text omitted.)

(765 ILCS 945/905) Sec. 905. The Illinois Banking Act is amended by repealing Sections 5a, 6.1, and 6.2. (Source: P.A. 99-331, eff. 1-1-16.)

(765 ILCS 945/910) Sec. 910. The Savings Bank Act is amended by repealing Section 1010. (Source: P.A. 99-331, eff. 1-1-16.)

(765 ILCS 945/915) Sec. 915. (Amendatory provisions; text omitted). (Source: P.A. 99-331, eff. 1-1-16; text omitted.)

(765 ILCS 945/920) Sec. 920. The Illinois Credit Union Act is amended by repealing Sections 46.1 and 46.2. (Source: P.A. 99-331, eff. 1-1-16.)

(765 ILCS 945/925) Sec. 925. (Amendatory provisions; text omitted). (Source: P.A. 99-331, eff. 1-1-16; text omitted.)

(765 ILCS 945/930) Sec. 930. The Residential Mortgage License Act of 1987 is amended by repealing Section 5-5. (Source: P.A. 99-331, eff. 1-1-16.)

(765 ILCS 945/935) Sec. 935. (Amendatory provisions; text omitted). (Source: P.A. 99-331, eff. 1-1-16; text omitted.)

(765 ILCS 1005/0.01) (from Ch. 76, par. 0.01) Sec. 0.01. Short title. This Act may be cited as the Joint Tenancy Act. (Source: P.A. 86-1324.)

(765 ILCS 1005/1) (from Ch. 76, par. 1) Sec. 1. No estate in joint tenancy in any lands, tenements or hereditaments, or in any parts thereof or interest therein, shall be held or claimed under any grant, legacy or conveyance whatsoever heretofore or hereafter made, other than to …

(765 ILCS 1005/1a) (from Ch. 76, par. 1a) Sec. 1a. Whenever any contract for the purchase of real estate hereafter entered into shows that the title is to be taken by the vendees as joint tenants and not as tenants in common, and one or more of such vendees die before the deliver…

(765 ILCS 1005/1b) (from Ch. 76, par. 1b) Sec. 1b. Whenever a grant or conveyance of lands, tenements, or hereditaments shall be made where the instrument of grant or conveyance does not create an estate in tenancy by the entirety in the manner provided by Section 1c but declares…

(765 ILCS 1005/1c) (from Ch. 76, par. 1c) Sec. 1c. Whenever a devise, conveyance, assignment, or other transfer of property, including a beneficial interest in a land trust, maintained or intended for maintenance as a homestead is made by both spouses during marriage or a civil u…

(765 ILCS 1005/2) (from Ch. 76, par. 2) Sec. 2. Except as to executors and trustees, and except also where by will or other instrument in writing expressing an intention to create a joint tenancy in personal property with the right of survivorship, the right or incident of surviv…

(765 ILCS 1005/2.1) (from Ch. 76, par. 2.1) Sec. 2.1. Whenever a transfer of tangible or intangible personal property shall be made in which the estate or interest created shall be declared to be an estate or interest not in tenancy in common, but in joint tenancy with right of s…

(765 ILCS 1005/3) (from Ch. 76, par. 3) Sec. 3. Except as otherwise provided in this Act, all joint obligations and covenants shall be taken and held to be joint and several obligations and covenants. (Source: Laws 1919, p. 633.)

(765 ILCS 1005/4) (from Ch. 76, par. 4) Sec. 4. If any person shall assume and exercise exclusive ownership over, or take away, destroy, lessen in value, or otherwise injure or abuse any property held in joint tenancy or tenancy in common, the party aggrieved shall have his civil…

(765 ILCS 1005/4a) (from Ch. 76, par. 5) Sec. 4a. When one or more joint tenants, tenants in common or co-partners in real estate, or any interest therein, shall take and use the profits or benefits thereof, in greater proportion than his or their interest, such person or persons…

(765 ILCS 1005/5) Sec. 5. Real estate; real property. As used in this Act, "real estate" and "real property" include a manufactured home as defined in subdivision (53) of Section 9-102 of the Uniform Commercial Code that is real property as defined in the Conveyance and Encumbran…

(765 ILCS 1010/0.01) (from Ch. 76, par. 10) Sec. 0.01. Short title. This Act may be cited as the Electricity and Gas Joint Ownership Act. (Source: P.A. 86-1324.)

(765 ILCS 1010/1) (from Ch. 76, par. 11) Sec. 1. As used in this Act: (a) "property" means real and personal property or any interest therein; and (b) "person" means any person, firm, association or corporation. (Source: Laws 1967, p. 1842.)

(765 ILCS 1010/2) (from Ch. 76, par. 12) Sec. 2. Any 2 or more persons who own or intend to own, jointly or as tenants in common, any property that is used or is to be used in whole or in part for the generation, transmission or distribution of electricity or for the production, …

(765 ILCS 1010/3) (from Ch. 76, par. 13) Sec. 3. This Act applies to agreements entered into prior, as well as subsequent, to the effective date of this Act. (Source: Laws 1967, p. 1842.)

(765 ILCS 1015/0.01) (from Ch. 73, par. 1091.9) Sec. 0.01. Short title. This Act may be cited as the Bailment Insurance Act. (Source: P.A. 86-1324.)

(765 ILCS 1015/1) (from Ch. 73, par. 1092) Sec. 1. If a bailee for hire makes a separate charge for any part or all of the cost any insurance which he may carry to indemnify him against liability for loss or damage of property of a bailor while in the possession or control of the…

(765 ILCS 1015/2) (from Ch. 73, par. 1093) Sec. 2. No bailee for hire shall make a charge to the bailor for any part or all of the cost of such protection or insurance unless a statement as required by Section 1 hereof is furnished to the bailor. (Source: Laws 1949, p. 335.)

(765 ILCS 1015/3) (from Ch. 73, par. 1094) Sec. 3. In case of loss or damage of a bailor's property while in such a bailee's possession or control and the bailee has represented to the bailor that he would be indemnified for loss in such case, and no statement has been furnished …

(765 ILCS 1015/4) (from Ch. 73, par. 1095) Sec. 4. The provisions of this Act are in addition to and not in lieu of any common law or statutory right now or hereafter accruing to a bailor because of loss or damage of his property while in a bailee's possession or control. (Source…

(765 ILCS 1020/0.01) (from Ch. 50, par. 0.01) Sec. 0.01. Short title. This Act may be cited as the Estrays and Lost Property Act. (Source: P.A. 86-1324.)

(765 ILCS 1020/1) (from Ch. 50, par. 1) Sec. 1. Any horses, mules, asses, cattle, swine, sheep or goats found straying, the owner thereof being unknown, may be taken up as estrays in the same manner as provided for lost goods. (Source: P.A. 83-575.)

(765 ILCS 1020/2) (from Ch. 50, par. 2) Sec. 2. No person who is not a householder in the county where the estray is found, shall take up such estray, and no person shall be allowed to take up any estray except upon or about his farm or place of residence. (Source: R.S. 1874, p. …

(765 ILCS 1020/20) (from Ch. 50, par. 20) Sec. 20. If any estray or estrays taken up, dies or disappears before the owner claims the estray, the taker-up shall not be liable for such occurrence. (Source: P.A. 81-273.)

(765 ILCS 1020/21) (from Ch. 50, par. 21) Sec. 21. Any raft, timber or plank found adrift on any water course within the limits or upon the borders of this State, the owner thereof being unknown, may be taken up in the same manner as provided for lost goods. (Source: P.A. 84-646.…

(765 ILCS 1020/27) (from Ch. 50, par. 27) Sec. 27. If any person or persons find any lost goods, money, bank notes, or other choses in action, of any description whatever, such person or persons shall inform the owner thereof, if known, and shall make restitution of the same, wit…

(765 ILCS 1020/28) (from Ch. 50, par. 28) Sec. 28. In all cases where such lost goods, money, bank notes or other choses in action shall not exceed the sum of $100 in value and the owner thereof is unknown, the finder shall advertise the same at the court house, and if the owner …

(765 ILCS 1020/29) (from Ch. 50, par. 29) Sec. 29. In all cases where any vessel or water craft shall be taken up, which shall be of a value of less than $15, the finder or taker-up shall advertise the same, by setting up 3 advertisements in the most public places in the neighbor…

(765 ILCS 1020/3) (from Ch. 50, par. 3) Sec. 3. No person taking up an estray shall use the same previous to advertising it; but animals giving milk may be milked for their benefit. (Source: R.S. 1874, p. 482.)

(765 ILCS 1020/30) (from Ch. 50, par. 30) Sec. 30. Except as is otherwise provided by this Act, all costs of proceedings in the matter of an estray or other property taken up or property found, shall be paid by the taker-up or finder in the first instance, and if the owner of the…

(765 ILCS 1020/31) (from Ch. 50, par. 31) Sec. 31. In all cases where the court is required to certify the estray or other property taken up, or the property found, to the county clerk, the taker-up or finder shall deposit with the court the amount of the county clerk's fees, inc…

(765 ILCS 1020/32) (from Ch. 50, par. 32) Sec. 32. Whenever the owner and the taker-up do not agree upon the amount of compensation to be paid to the taker-up, either party may apply to the court, which shall have power to determine the matter between the parties and enter judgme…