13-72-010 Definitions.
For the purposes of this chapter, the following words and phrases shall have the meanings respectively ascribed to them by this section:
"Blanket encumbrance" means a trust deed, mortgage, judgment or other lien on a condominium including any lien or other encumbrance arising as a result of the imposition of any tax assessment by a public authority.
"Board of managers" means the board of managers provided and referred to in the Illinois Condominium Property Act.
"Closing of the sale" means the operation of transferring ownership of a condominium unit to the purchaser from the developer.
"Commissioner" means the commissioner of business affairs and consumer protection.
"Common elements" means all of the condominium except the condominium units. "Common elements" also includes limited common elements.
"Condominium" means a form of property established pursuant to the Illinois Condominium Property Act.
"Condominium Disclosure Summary" or "Disclosure Summary" means the summary required in accordance with Section 13-72-025.
"Condominium project" means the sale of or plan by a developer to sell or the offering for sale of residential condominium units in an existing building or building to be constructed or under construction, and shall include a conversion condominium.
"Condominium unit" or "unit" means a separate three-dimensional area within the condominium identified as such in the declaration and on the condominium plat and shall include all improvements contained within such area except those excluded in the declaration.