Illinois Statutes
§ 5 — Land trust beneficiary rights
Illinois·Topic RIGHTS AND REMEDIES·Ch. 765 PROPERTY·Act 765 ILCS 407/ Land Trust Beneficiary Rights Act.
If the identity of the trustee of a land trust has been changed by virtue of sale, assignment, appointment, or otherwise, but the beneficial owner or owners of the land trust remain unchanged, the rights of the beneficial owner or owners shall in no way be impaired by the change of trustees.
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Legislative History
(Source: P.A. 99-609, eff. 1-1-17 .)
Nearby Sections
15
§ 5
§ 5§ 5-1
Short title§ 5-15
Affidavit of affixation§ 5-2
Findings and purpose§ 5-20
Disposition of liens§ 5-40
Exclusive procedure§ 5-45
Applicability§ 5-50
Affidavit of severance§ 5-55
Documents in trust§ 5.1
§ 5.1