Illinois Compiled Statutes 765 ILCS 935 Mortgage Certificate of Release Act. Section 15

    (765 ILCS 935/15)

    Sec. 15. Certificate of release. An officer or duly appointed agent of a title insurance company may, on behalf of a mortgagor or a person who has acquired from a mortgagor title to all or part of the property described in the mortgage, execute a certificate of release that complies with the requirements of this Act and record the certificate of release with the recorder of each county in which the mortgage is recorded, provided that payment of the loan secured by the mortgage was made in accordance with a written payoff statement furnished by the mortgagee or the mortgage servicer. The title insurance company or its duly appointed agent shall not be required to search the public record for a possible recorded satisfaction or release.

(Source: P.A. 92-765, eff. 8-6-02; 93-428, eff. 12-31-03.)

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Last modified: February 18, 2015