Entity, trust, authority, signer, and closing-document terms.

A professional designation for real estate auctioneers who meet the issuing organization’s education, experience, and ethics requirements.

The action or process of something accumulating or coming into existence. In real estate, it often refers to interest, taxes, expenses, claims, or limitation periods that build up or become enforceable over time.

Real estate taxes that have been earned or incurred for a period but may not yet have been billed, paid, or finally calculated.

To, at, or toward; often appears as part of longer Latin phrases rather than as a standalone real estate term.

A person authorized to conduct local administrative hearings and issue decisions on violations.

A person appointed by a probate court to administer a decedent’s estate when there is no executor able to serve. Older documents may use “administratrix” for a female administrator.

An administrator with the will annexed, appointed when there is a will but no executor able or willing to serve.

The power of an administrator appointed by the probate court to act for an estate.

Court acceptance of a will as valid for administration.

Paid public communication used to market a property, auction, or real estate service.

An affidavit stating the decedent’s legal residence, often used to transfer securities or assets.

A sworn statement identifying heirs and family relationships for title or estate purposes.

Cash flow remaining after income-tax effects are considered.

A relationship where one person or company may act for another within authorized limits.

A contract where a seller agrees to sell and a buyer agrees to buy real estate on stated terms.

A special district or authority organized to own, operate, finance, or regulate airport facilities.

Retail space located within or serving an airport environment, often including specialty retail and food uses.

An elected member of a city council, usually representing a ward.

The American Land Title Association, whose policy forms and survey standards are common in commercial real estate.

A secondary probate proceeding in another state or county, often needed when a decedent owned real estate outside the main probate jurisdiction.

A statute that may save certain gifts from lapsing by passing them to descendants.

A local government officer selected by appointment rather than election.

A private dispute process in which a neutral arbitrator hears the dispute and issues a decision, often binding if the agreement says so.

The formation document filed to create a limited liability company.

Property, rights, or economic resources owned by a person or entity, including real estate, claims, cash, leases, and contract rights.

A person or entity that receives contract rights, lease rights, or property rights from another.

A distressed-property concept used when a borrower conveys property or related rights to a lender or nominee instead of completing foreclosure.

A separate assignment document used to transfer certificated securities.

The person or entity transferring rights to an assignee.

A contract period allowing attorneys to approve, reject, or modify a signed real estate contract.

A person authorized to act for another under a power of attorney.

A resolution authorizing a person to sign documents or take action for an entity.

Cash flow after operating expenses and debt service but before income taxes.

A person who owns or controls an interest for economic benefit, even if title or authority is held through another person or entity.

A person or entity entitled to benefit from a trust, escrow, guaranty, or deed of trust arrangement.

To give personal property by will.

The governing board of a village, library district, township, or special district, depending on the entity.

Security required of a fiduciary unless waived or excused.

A licensed person or firm that acts as an intermediary in a real estate sale, lease, loan, or other transaction.

Compensation owed to a broker for procuring a lease, sale, or other transaction.

Internal governance rules for a corporation.

A cost to acquire, improve, or replace an asset with a useful life beyond the current year.

Funds set aside for major repairs, replacements, or improvements.

An order setting deadlines and procedures for moving a case toward resolution.

A review of expected cash inflows and outflows for a property or investment.

A return measure comparing cash received to cash invested.

A document correcting a tax or assessment record.

A bank deposit instrument promising repayment of principal with interest after a stated period.

A VA document showing that a borrower appears eligible for a VA-guaranteed loan program.

A correction process for certain assessment or tax-bill errors.

A state-issued certificate confirming an entity’s active or compliant status as of the certificate date.

A document summarizing insurance coverage, limits, and named insured information.

A government document confirming that premises satisfy applicable occupancy, building, or zoning requirements.

The certificate issued to a tax buyer after purchase of delinquent taxes.

A certificate issued to a buyer at a judicial or tax sale, often leading to a deed if required steps are completed.

A statement or document identifying ownership or title status, depending on context and issuing authority.

A document confirming trust existence and trustee authority for third parties.

A local confirmation that a use, structure, or occupancy complies with zoning requirements.

A professional designation for commercial and investment real estate practitioners.

A case historically heard in equity, including many real estate, injunction, and foreclosure matters.

The county official overseeing assessment administration and changes.

A statutory allowance for eligible children from an estate.

A probate citation used to obtain information about estate assets or transactions.

A probate proceeding to recover or discover estate property.

A municipal corporation generally governed by a mayor and city council or another authorized form of municipal government.

The legislative body of a city, typically composed of the mayor and aldermen or council members.

A public authority created to own, finance, operate, or manage civic center or exposition facilities.

A creditor claim seeking payment from estate assets.

An ownership interest in a private business held by a decedent, trust, or estate.

Completion of a real estate or loan transaction through signing, funding, recording, and delivery of required documents.

One of two or more people appointed to administer an estate.

One of two or more executors authorized to administer an estate under a will and court appointment.

A later will document that modifies, adds to, or republishes parts of an existing will.

An assignment of a land-trust beneficial interest as loan collateral.

A local officer or official function responsible for collecting taxes, fees, charges, or assessments.

A deed issued by a court-appointed official or officer under court authority.

A finance officer responsible for accounting, financial controls, and disbursement functions where the office exists.

A distressed-property concept used when a borrower conveys property or related rights to a lender or nominee instead of completing foreclosure.

A person whose property or affairs are under a conservatorship.

A court-appointed person who manages another person’s property or financial affairs.

A deed signed by a conservator or similar fiduciary under court authority.

An equitable remedy treating someone as holding property for another to prevent unjust enrichment or fraud.

A loan provision allowing an adjustable-rate loan to be converted to a fixed-rate loan under stated conditions.

A housing project owned by a corporation, where residents usually own shares and receive occupancy rights through a proprietary lease.

The county officer responsible for death investigations under statutory authority.

Corporate Code; a statutory reference to corporation or entity law.

The elected or appointed officials who constitute the governing authority of a municipality or other public body.

A formal corporate action approving a transaction, signer, borrowing, sale, lease, or other act.

An entity authorization approving a real estate sale, mortgage, lease, or other transaction.

An elected member of a municipal council or legislative body.

The Illinois statutory code governing counties and county officers.

The officer or office responsible for valuing property for property-tax purposes in counties where that office exists.

The officer who presides over the county board and may have executive or administrative duties under county law.

The county officer responsible for records, elections, vital records, tax extensions, and other statutory functions.

The officer or function responsible for collecting property taxes and distributing receipts to taxing districts.

A road under county jurisdiction, maintenance, or authority.

Illinois statute addressing certain sales of property by county officers.

The county law-enforcement officer responsible for court security, service of process, jail operations, and other statutory duties.

A county officer or function connected with surveys, plats, boundaries, and public records where applicable.

The county officer responsible for receiving, holding, investing, and disbursing county funds and often collecting property taxes.

A distressed-property concept used when a borrower conveys property or related rights to a lender or nominee instead of completing foreclosure.

In the custody of the law, usually property held under court authority.

A person holding and managing property transferred to a minor under UTMA.

De bonis non, meaning an administrator appointed to handle estate property not yet administered.

A person who has died.

The property, rights, debts, and obligations left by a person at death.

A real property interest owned by a person who has died.

A probate court order directing distribution of estate property to heirs or beneficiaries.

The closing where a borrower conveys property to the lender or nominee instead of completing foreclosure.

A security instrument used in some states in which title is placed with a trustee to secure repayment of a debt.

A deed-of-trust clause addressing waiver or extension of limitations defenses.

A person in a direct line of descent, such as child, grandchild, or later generation.

Transfer of property by inheritance when a person dies, especially under intestacy law.

Land improved or proposed to be improved as a project, or a man-made change to real estate under land-use rules.

To transfer real property by will.

A person who receives real property under a will.

An adult found by court to need guardianship or protective authority.

A volunteer providing service during a disaster or emergency under local-government authority.

A beneficiary’s refusal to accept inherited property.

A trust giving the trustee discretion over distributions.

Distribution of the asset itself rather than cash proceeds from its sale.

The administrator appointed in the decedent’s primary probate jurisdiction.

A public authority created to promote development, financing, infrastructure, or redevelopment in a defined region.

Potential gross income minus vacancy and collection loss, plus miscellaneous income.

A local government officer selected by voters.

A FEMA-related document showing elevation information used for floodplain compliance and flood-insurance rating.

A report showing estate receipts, disbursements, distributions, and remaining assets.

A reference sheet summarizing probate administration deadlines, filings, and tasks.

The time for creditors to file claims against an estate.

A list of estate assets and values filed or maintained during administration.

Planning for transfer, management, and protection of property during life and at death.

A sale of property owned by a decedent’s estate.

Sale of real estate by a personal representative, trustee, or court-authorized fiduciary.

A tax return reporting transfers at death when filing thresholds or rules require it.

A signed statement confirming facts that the signer may later be prevented from contradicting.

Rent or other value received by a tenant from a subtenant or assignee above what tenant owes landlord.

A person named in a will and authorized by the probate court to administer the estate. Older documents may use “executrix” for a female executor.

Not yet fully performed; still requiring future performance by one or more parties.

The power of an executor to act for an estate under a will and letters of office.

Limited authority a municipality or other local body may have over land outside its corporate limits.

A retail format where manufacturers or retailers sell discounted goods, often in outlet centers.

A federal tax on certain transfers at death above the applicable exclusion.

A fee-simple estate subject to a condition that can cause title to end or shift if the condition is violated.

A fee estate that automatically ends when a stated limitation occurs.

A fee estate that may be terminated if a condition is breached and the right is enforced.

The legal capacity in which a person acts for another, such as trustee, executor, or guardian.

A report used to close an estate after administration is complete.

A lien securing repayment of debt or another financing obligation, such as a mortgage, deed of trust, or UCC lien.

A buyer who has not owned a principal residence within the period specified by the applicable loan, tax, or assistance program.

Operating expenses that do not vary much with occupancy, such as some taxes and insurance.

Personal property that has become attached to real estate enough to be treated as part of it.

A lease tax definition exclusion for taxes based on landlord’s franchise, income, estate, inheritance, or similar status.

The Federal Home Loan Mortgage Corporation, a government-sponsored enterprise active in the secondary mortgage market.

A status showing an entity is active and compliant with state filing obligations.

Secretary of State or similar evidence that an entity is active and authorized to transact business.

The value of a business’s reputation, customer relationships, and other advantages beyond physical assets.

A public body associated with separating road and rail crossings or related transportation improvements.

A person appointed by a court to act for a minor or disabled person.

A guardian responsible for managing a ward’s property.

A guardian responsible for personal-care decisions for a ward.

A deed signed by a court-appointed guardian on behalf of a ward, usually with required court authority.

A person entitled to inherit from a decedent under intestacy law or sometimes used more loosely for family beneficiaries.

A person entitled to inherit under intestacy law.

The identity and shares of persons entitled to inherit when property passes by intestacy.

County authority or funding related to preserving official records and historical documents.

A handwritten will, recognized only if it meets the governing law’s requirements.

An Illinois county or municipality with constitutional home rule authority, generally allowing broader local regulation unless limited by state law.

The International Association of Assessing Officers.

Illinois tax imposed on certain estates under state law.

The Illinois practice under which real estate taxes are generally billed and paid after the tax year to which they relate.

Illinois statute governing the Illinois Sports Facilities Authority.

In the matter of; used in case captions for estates, trusts, bankruptcy, and administrative matters.

Property held or operated to produce rent or other income.

Adopting an external code or standard into local law by referring to it rather than reproducing all text.

A certificate identifying current officers, managers, members, or other authorized signers.

Probate administration with reduced court supervision where allowed.

A planned development designed for manufacturing, warehouse, distribution, or other industrial uses.

Property used for manufacturing, warehousing, processing, distribution, utility, or similar industrial activity.

A checklist used to collect estate, heir, asset, liability, and administration information.

Dying without a valid will controlling the property.

An estate where the decedent left no valid will controlling distribution.

To take effect or operate for the benefit of someone, often successors and assigns.

A list or stock of goods, supplies, or property held for sale, use, or accounting.

An entity that pools investor funds to invest in real estate, securities, or other assets.

A trust that generally cannot be revoked by the settlor without required consent or authority.

A deed issued under authority of a court order or judicial proceeding.

The personal-property interest held by a beneficiary of an Illinois land trust.

Failure of a gift because the beneficiary does not survive or another condition fails.

An officer-worn recording device used under rules governing law-enforcement recordings.

Illinois statute governing officer-worn body cameras.

The tenant’s right to possess and use premises under a lease.

A gift by will, often of money or personal property.

A person receiving a legacy under a will.

An entity or person designated by the lender to take title or receive documents, often in deed-in-lieu or REO transactions.

A person or entity designated by the lender to take title in a deed-in-lieu transaction.

Recent letters of office often required by transfer agents, title companies, or third parties.

Court-issued proof that an administrator has authority to act for an estate.

Court-issued proof that a guardian has authority to act for a ward.

Court-issued proof of authority for an executor, administrator, guardian, or representative.

Court-issued proof that an executor has authority to act for an estate.

A member of a public library board or district board.

Permission to use property without creating a leasehold estate.

A deed creating ownership for a person’s lifetime, with future ownership passing to another.

Evidence that an LLC and its signer have authority to complete a real estate transaction.

A person or entity authorized to manage a manager-managed limited liability company.

An owner of a limited liability company.

A statutory protection addressing certain local-government cooperative actions that might otherwise raise antitrust concerns.

Authority for local governments to accept credit card payments for taxes, fees, fines, or charges.

Illinois statute addressing compensation of local government officers.

Illinois statute addressing removal of certain local volunteer board members.

A factory-built dwelling constructed to federal manufactured-housing standards and designed for residential use.

Rights a spouse may have in property, including homestead or estate-related rights.

A deed executed by a court-appointed officer after a chancery sale under older or local practice.

The elected executive officer of a city or municipality, with powers defined by statute and local form of government.

A financial institution guarantee used for transfers of securities.

A clause stating the written agreement is the entire agreement and supersedes prior discussions or promises.

A corporate transaction that may be treated as an assignment unless carved out as a permitted transfer.

A public authority associated with major exposition, convention, and public-event facilities.

A transit authority serving a metropolitan area under statutory authority.

Illinois statute governing metropolitan transit authority functions.

Property held for a minor and managed by a guardian or custodian.

The local officer responsible for records, minutes, ordinances, seals, filings, and other statutory duties.

The combination of municipalities or local governmental functions under statutory authority.

The legal termination of a municipality or other local governmental entity.

The legal process by which a community becomes a city, village, or incorporated town.

The local officer responsible for receiving, holding, and disbursing municipal funds as authorized by law.

A convenience-oriented shopping center, often anchored by a supermarket or daily-needs tenant.

A clause stating that the lender’s mortgage lien and acquired title do not merge unless intended.

An oral will, recognized only in narrow circumstances if at all under governing law.

A sworn statement required before a public officer may assume official duties.

Salary or benefits payable to public officers under statute, ordinance, resolution, or local rule.

A bond required of certain public officers to secure faithful performance of official duties.

A catch-all clause in a will, trust, deed, lease, or contract that sweeps in additional property or rights.

The agreement governing management, economics, transfers, and internal rights of an LLC.

A probate court order allowing a fiduciary to sell property.

Apparent or seeming, especially authority that appears to exist based on conduct or circumstances.

A freestanding parcel or building site within or near a larger shopping center or commercial development.

The governing board of a park district or park authority.

A member of a park board or park commission.

Police or security officers authorized for certain park district law-enforcement functions.

A planned commercial development with multiple business establishments and on-site parking.

A planned industrial development with multiple industrial establishments and on-site parking.

A planned development with multiple office buildings and shared planning or parking features.

A decedent’s interest in a partnership, governed by the partnership agreement and applicable law.

A distressed-property concept used when a borrower conveys property or related rights to a lender or nominee instead of completing foreclosure.

A law-enforcement officer with powers defined by statute.

For the life of another person, usually describing a life estate measured by another’s life.

An assignment, sublease, merger, affiliate transfer, or sale transaction allowed without ordinary landlord consent if conditions are met.

Movable property not treated as real estate, such as furniture, equipment, inventory, and some trade fixtures.

A deed signed by an executor or administrator conveying estate real property.

A fiduciary’s list of estate assets filed or maintained during administration.

A filing asking the court to open a probate estate and appoint a representative.

A document identifying parcel index numbers for a property or transaction.

A body responsible for training and certification standards for law-enforcement officers.

A special district or authority governing port, harbor, terminal, intermodal, or waterfront facilities.

The income a property could produce before vacancy, collection loss, and normal operating expenses.

A will directing assets to a trust at death.

A shopping center dominated by large category retailers, discount stores, warehouse clubs, or similar anchors.

A written authorization for one person to act for another as agent.

To omit or leave out, often used in estate-law contexts.

A legally recognized relationship between parties, such as contract privity, estate privity, or successive property interests.

The court process for proving a will, appointing a representative, paying claims, and distributing estate property.

Court-supervised administration of a deceased person’s estate.

The court division or court authority handling estates, guardianships, and related fiduciary matters.

A court or corrections officer supervising persons on probation and performing related duties.

A person holding a government office with duties created by constitution, statute, ordinance, or lawful appointment.

Restrictions on conflicts of interest, incompatible offices, and transactions involving public officers.

Illinois statute restricting prohibited activities and conflicts involving public officers.

Illinois statute addressing when one person may hold more than one public office.

A trust structured to continue for an extended or perpetual period where allowed.

The minimum number of members required for a public body to conduct official business.

A public authority created to plan, finance, or carry out railroad relocation or grade-separation projects.

A licensed person or firm engaged to help sell, buy, lease, or manage real estate transactions.

A person who provides real estate brokerage, sales, leasing, valuation, management, or related professional services.

Taxes and assessments imposed on land and improvements, often passed through to tenants in commercial leases.

A transfer or release returning title or security interest after a deed of trust or similar obligation is satisfied.

The official or office that records real-estate instruments in the county land records.

A required approval or certificate for lawful destruction of certain local public records.

A large shopping center with general merchandise, fashion, and department-store or large-format anchors.

A regional public body coordinating or funding transportation services across multiple jurisdictions.

Illinois statute governing the Regional Transportation Authority.

The amount needed to cure default and restore the loan without paying the entire balance.

The time during which a borrower may cure default and reinstate the loan under foreclosure law.

A person holding a future interest that becomes possessory after a life estate or other prior estate ends.

A nominated fiduciary’s refusal to serve.

A surviving spouse’s statutory election to take against a will.

A separately assessed residential property intended for one household and not primarily used as a farm.

A residential property with two or more dwelling units assessed as one property.

Land or improved property devoted to or available for residential use.

A seller disclosure form required in many Illinois residential transactions.

A will or trust clause disposing of property not otherwise specifically given.

A formal expression of decision or policy by a local legislative body, usually less general or permanent than an ordinance.

Commercial use involving sale of goods or services to the public.

The officer’s or process server’s statement showing how and when service was made.

A performance measure comparing income or return to the amount invested.

A future interest that returns to the grantor or the grantor’s successor after a condition or estate ends.

A trust that the settlor can amend or revoke during life.

An act or later document canceling a will.

The sheriff, special commissioner, or other officer conducting a judicial sale.

Sale of property to create cash needed to balance beneficiaries’ shares.

A certificate from a corporate secretary or equivalent officer confirming resolutions, authority, or organizational documents.

A document creating a lien or security interest, such as a mortgage, deed of trust, or security agreement.

Service on a corporate registered agent, officer, or other person authorized by law.

A federal law providing certain protections to servicemembers in civil matters, including some foreclosure, eviction, and interest-rate issues.

A court or party meeting to discuss resolution before trial.

A certificate issued by a sheriff or selling officer after a judicial sale.

A planned or managed commercial development with multiple stores and related parking or common areas.

Legal authority to sign documents on behalf of a person, entity, trust, or estate.

A will with basic dispositive provisions and representative appointments.

Properties designed for occupancy by one household, whether detached or attached depending on context.

A statutory affidavit used to collect certain estate assets without full probate administration.

A business owned by a decedent individually and managed, sold, or wound down by the estate.

A court-appointed representative used for limited estate or litigation purposes.

A trust designed to supplement, not replace, means-tested public benefits.

A gift of a particular item or asset under a will or trust.

A gift of particular real property under a will.

A public authority created to finance, own, or manage sports facilities.

A statutory allowance for a surviving spouse from an estate.

The county prosecutor and legal officer for the county in many matters.

A rule requiring certain agreements, including many real estate contracts and leases, to be in writing and signed.

A tax replacing or supplementing real estate taxes, sometimes included in lease tax definitions.

Replacement of one party, document, trustee, collateral, or obligation with another.

A trustee who takes over when the prior trustee cannot or no longer serves.

A very large regional mall with broader merchandise, entertainment, and anchor offerings.

Probate administration requiring ongoing court approval for significant acts.

A company or person guaranteeing a fiduciary bond.

A spouse who outlives the decedent and may have statutory rights.

The official bill showing real estate taxes due for a property and period.

Allocation of real estate taxes between buyer and seller, or landlord and tenant, for a period of ownership or occupancy.

An allocation of real estate taxes between seller and buyer as of the closing date.

The year to which a real estate tax assessment applies.

A system where real estate taxes are paid after the year in which they accrue.

A local government’s authority over land inside its boundaries and, where allowed, nearby areas outside those boundaries.

A will or testamentary instrument expressing directions for property after death.

An estate administered under a valid will.

A person who makes a will.

A retail and entertainment project organized around a theme, tourist area, or leisure concept.

A person designated to receive real estate under a transfer on death instrument.

Historic Illinois statute concerning township cemetery authority.

The township officer responsible for records, minutes, notices, and other statutory duties.

Historic Illinois statute concerning township open-space authority.

The chief executive and financial officer of a township under the Township Code.

Zoning once exercised under township-specific authority, now largely governed by county or municipal frameworks.

A public authority responsible for trail ownership, development, maintenance, or operation.

A company or agent handling ownership records and transfers of securities.

An Illinois instrument that transfers real estate at the owner’s death without probate if statutory requirements are met.

A tax imposed on transferring real estate, usually by state, county, or municipality.

A public authority providing or coordinating mass transit services.

Administration of trust property by a trustee under the trust instrument and law.

Property interests held by a trustee under a trust agreement.

A person or entity holding and administering trust property under a trust agreement or law.

A trustee’s acceptance of the office and duties of trustee.

A certificate summarizing trustee authority without disclosing the full trust agreement.

A trustee’s formal resignation under the trust instrument or law.

A deed signed by a trustee conveying property held in trust.

Illinois statute addressing discipline procedures for peace officers.

A local governmental entity such as a county, municipality, township, special district, or other public authority recognized under Illinois law.

A local approval confirming permitted use and occupancy of property or space.

A transfer to a custodian for a minor under the Uniform Transfers to Minors Act.

An allowance for income lost because of vacancy, turnover, or nonpayment.

A distressed-property concept used when a borrower conveys property or related rights to a lender or nominee instead of completing foreclosure.

A municipal corporation commonly governed by a president and board of trustees, unless another statutory form applies.

The elected presiding officer of a village board, often performing functions similar to a mayor.

A lien created by the owner’s agreement, such as a mortgage or deed of trust.

A challenge claiming an attorney lacked authority to file or act for a party.

A person under guardianship.

A public authority responsible for water supply, treatment, transmission, or related water facilities.

Litigation challenging the validity of a will.

A municipal confirmation or approval that a proposed or existing use complies with zoning requirements.