Illinois - Session 104
Title: MORTGAGE DEBT-RELEASE
Amends the Mortgage Act. Provides that the Act does not abrogate the Illinois common law that the payment in full of a debt secured by a mortgage extinguishes the lien. Provides that payment in full of a debt secured by a mortgage pursuant to a payoff statement, as defined in the Mortgage Certificate of Release Act, issued by or on behalf of the holder of the indebtedness extinguishes the lien of the mortgage. Effective immediately.
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| Date | Event | Detail |
|---|---|---|
| 2025-01-31 | Introduced | Bill introduced |
| 2025-08-01 | Status | enacted |
| 2025-08-01 | Latest Action | 8/01/2025 - Senate: |