South Holland — Ch. 8.5 Housing § 8.5-23
Definitions
Operative Text
(a) Appraised valuation. The dollar appraisal on the insured residence as determined by the certified appraiser on the appraised valuation date. (b) Appraised valuation date. The date of certification of participation. (c) Certified appraiser. One (1) of the members of a panel of appraisers approved by the EAC for determining appraised valuations under the provisions of this article. (d) Family members. Spouse, children, parents of spouse, brothers and sisters. (e) Insured residence. The single-family residence owned and used continuously as the place of residence by the member and described in the certificate of participation and entitled to coverage under this act. (f) Member. A person who owns and occupies a single-family residence in the Village of South Holland and has applied for and been accepted as a member of the EAP as indicated by a certificate of participation; such family members who reside in the insured residence at least one (1) year prior to the death or incapacity of a member by a certificate of participation shall also be deemed members. (g) Owner. The titleholder or beneficiary of the trust. (h) Physical perils. Physical occurrences such as, but not limited to, fire, windstorm, hail, water damage, nuclear explosion or seepage, war, insurrection, water damage, wear and tear, cracking, settling, vermin, rodents, vandalism, etc., and all such related occurrences or acts of God. (i) Single-family residence. A building having not more than one (1) dwelling unit principally occupied by the members of no more than one (1) family, any appurtenant unoccupied structures, and grounds and private approaches thereto, provided that the dwelling is used principally as a private residence and that any business use of the premises is incidental to its use as a private dwelling. A single-family residence may include coach houses subject to the above definition. (j) Application for standard appraisal fee. The fee established from time to time by the EAC for a standard appraisal on a single-family residence which becomes the application fee under the EAP. (k) Valuation at sale date. The dollar value of the insured residence stated in the consummated sales contract for the insured residence between the member and the prospective buyer.
South Holland's Ch. 8.5 Housing § 8.5-23 establishes the core vocabulary used throughout the Village's Equity Assurance Program (EAP). It defines key terms—such as 'member,' 'insured residence,' 'certified appraiser,' and 'physical perils'—that govern how the program operates and who qualifies for its protections. These definitions set the boundaries of coverage, eligibility, and valuation methodology that apply to all other provisions in the article. Understanding these terms is essential for interpreting any rights or obligations that arise under the EAP.
Plain English — not legal advice.
Under South Holland Ch. 8.5 Housing § 8.5-23, property owners who participate in the EAP should be familiar with how the program defines 'member' and 'insured residence,' since eligibility for coverage depends on continuous owner-occupancy of a qualifying single-family residence. Compliant participants typically ensure their property meets the single-family definition—including the limitation to one dwelling unit used principally as a private residence—and that any business use remains incidental. Operators also take note that the 'appraised valuation date' is tied to the certification of participation, making the timing of enrollment relevant to how property value is established under the program.
General guidance for property managers — not legal advice for your specific situation. Consult an attorney for advice on your case.
South Holland Ch. 8.5 Housing § 8.5-23 is primarily relevant to owner-occupants who participate in the EAP, but family members residing in the insured residence may also qualify as 'members' under the program's definitions if they have lived there for at least one year prior to the death or incapacity of the primary member. Individuals who believe they may have rights under the EAP based on these definitions can review their certificate of participation or contact the EAC (Equity Assurance Commission) for clarification on their status. Tenant-rights organizations or housing counselors familiar with South Holland's housing code may also be able to help residents understand how these definitions affect their situation.
General guidance for tenants — not legal advice for your specific situation. Consult a tenant-rights organization or attorney for advice on your case.
Generated November 9, 2026 — auto-generated, not yet human-reviewed. See /transparency for methodology.
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