§ 27-226. Definitions.

The following words, terms and phrases, when used in this article, shall have the meanings ascribed to them in this section, except where the context clearly indicates a different meaning:

Beneficial interest means any interest, regardless of how small or minimal such interest may be, in a land trust held by a trustee for the benefit of the beneficiaries of such land trust.

Person means any natural individual, firm, partnership, association, joint stock company, joint venture, public or private corporation; or a receiver, executor, trustee, conservator or other representative appointed by order of any court.

Recordation means the recording of deeds by the county recorder of deeds.

Value means the amount of the full actual consideration for any transfer covered hereunder, including the amount of any lien or liens to which the transferred property is subject.

(Ord. No. 11912, § 1, 2-21-89; Ord. No. 13083, § 1, 8-7-90)

Cross reference

Definitions and rules of construction generally, § 1-2.