Illinois Compiled Statutes
765 ILCS 405/1 (2026)
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(765 ILCS 405/1)
(from Ch. 148, par. 71)
Sec. 1.
Definitions.
As used in this Act:
"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 beneficiaries of such land trust.
"Beneficiary" means any person, body politic, corporate or other entity
having a beneficial interest in a land trust.
"Land trust" means any express agreement or arrangement whereof a use,
confidence or trust is declared of any land, or of any charge upon land,
for the use or benefit of any beneficiary, under which the title to real
property, both legal and equitable, is held by a trustee, subject only to
the execution of the trust, which may be enforced by the beneficiaries who
have the exclusive right to manage and control the real estate, to have the
possession thereof, to receive the net proceeds from the rental, sale,
hypothecation or other disposition thereof, and under which the interest of
the beneficiary is personal property only.
(Source: P.A. 78-903.)
Notes of Decisions
Cited in 13
cases (1 in the last 5 years), 2000–2023 · leading case: Bennett v. Chicago Title & Trust Co., 936 N.E.2d 1068 (Ill. App. Ct. 2010).
Bennett v. Chicago Title & Trust Co., 936 N.E.2d 1068 (Ill. App. Ct. 2010). “2d 187 , 193 (2005) (“[a] statute should be read as a whole and construed so that no part of it is rendered meaningless or superfluous”).”
Alward v. Jacob Holding of Ontario L.L.C., 2019 IL App (5th) 180332 (Ill. App. Ct. 2019). “” 765 ILCS 405/1 (West 2018). ¶ 18 Typically, most of the usual attributes of real property ownership are retained by the beneficiary under an Illinois land trust agreement.”
In re Application of the Cnty. Treasurer & ex officio Cnty. Collector of Cook Cnty., 2023 IL App (1st) 220070 (Ill. App. Ct. 2023). “” 765 ILCS 405/1 (West 2022). See also 765 ILCS 415/2 (West 2022); 765 ILCS 420/2 (West 2022).”
Salt Creek Rural Park Dist. v. Dep't of Revenue, 777 N.E.2d 515 (Ill. App. Ct. 2002). “” A land trust is “any express agreement or arrangement [where] a use, confidence or trust is declared of any land *** for the use or benefit of any beneficiary, under which the title to real property, both legal and equitable, is held by a trustee” and the beneficiary retains…”
FirstMerit Bank, N.A. v. Soltys, 2015 IL App (1st) 140100 (Ill. App. Ct. 2015). “3d 1088, 1096 (2010) (citing 765 ILCS 405/1 (West 2006), and Klein v. La Salle National Bank, 155 Ill.”
In Re Est. of Wittmond, 732 N.E.2d 659 (Ill. App. Ct. 2000). “Illinois law not only honors such language in a trust document (Caleca v.”
Zander v. Adams, 928 N.E.2d 492 (Ill. App. Ct. 2010). “” See 765 ILCS 405/1 (West 2006); Klein v. La Salle National Bank, 155 Ill.”
FirstMerit Bank, N.A. v. Soltys, 2015 IL App (1st) 140100 (Ill. App. Ct. 2015). “3d 1088, 1096 (2010) (citing 765 ILCS 405/1 (West 2006), and Klein v. La Salle National Bank, 155 Ill.”
Johnessee v. Schnepf, 2012 IL App (4th) 110767 (Ill. App. Ct. 2012). “The court stated the term “land trust” is given the same definition by the Land Trust Beneficial Interest Disclosure Act (765 ILCS 405/1 to 3 (West 2008)), the Land Trustee as Creditor Act (765 ILCS 415/0.”
Salt Creek Rural Park Dist. v. Dep't of Revenue (Ill. App. Ct. 2002). “" A land trust is "any express agreement or arrangement [where] a use, confidence or trust is declared of any land *** for the use or benefit of any beneficiary, under which the title to real property, both legal and equitable, is held by a trustee" and the beneficiary retains…”
Bennett v. Chicago Title & Trust Co. (Ill. App. Ct. 2010). “See 765 ILCS 405/1 (West 2006); Klein v. La Salle National Bank, 155 Ill.”
Zander v. Adams (Ill. App. Ct. 2010). “" See 765 ILCS 405/1 (West 2006); Klein v. La Salle National Bank, 155 Ill.”
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