98TH GENERAL ASSEMBLY
State of Illinois
2013 and 2014
SB3104

 

Introduced 2/7/2014, by Sen. Michael Connelly

 

SYNOPSIS AS INTRODUCED:
 
735 ILCS 5/15-1509  from Ch. 110, par. 15-1509

    Amends the Mortgage Foreclosure Article of the Code of Civil Procedure. Provides that the grantee named in a deed issued in connection with a judicial foreclosure shall cause the deed to be recorded with the county recorder in which the real estate is located within 60 days of delivery of the deed.


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A BILL FOR

 

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1    AN ACT concerning civil law.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Code of Civil Procedure is amended by
5changing Section 15-1509 as follows:
 
6    (735 ILCS 5/15-1509)  (from Ch. 110, par. 15-1509)
7    Sec. 15-1509. Transfer of Title and Title Acquired.
8    (a) Deed. After (i) confirmation of the sale, and (ii)
9payment of the purchase price and any other amounts required to
10be paid by the purchaser at sale, the court (or, if the court
11shall so order, the person who conducted the sale or such
12person's successor or some persons specifically appointed by
13the court for that purpose), shall upon the request of the
14holder of the certificate of sale (or the purchaser if no
15certificate of sale was issued), promptly execute a deed to the
16holder or purchaser sufficient to convey title. Such deed shall
17identify the court and the caption of the case in which
18judgment was entered authorizing issuance of the deed.
19Signature and the recital in the deed of the title or authority
20of the person signing the deed as grantor, of authority
21pursuant to the judgment and of the giving of the notices
22required by this Article is sufficient proof of the facts
23recited and of such authority to execute the deed, but such

 

 

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1deed shall not be construed to contain any covenant on the part
2of the person executing it. If the deed issues to a grantee
3prior to the expiration of the period for appealing the
4confirmation of sale, and the grantee conveys title to another
5party within that period, that other party will not be deemed a
6bona fide purchaser unless and until such period expires
7without an appeal having been filed or, an appeal having been
8filed, such appeal is denied or withdrawn.
9    (b) Effect Upon Delivery of Deed. Delivery of the deed
10executed on the sale of the real estate, even if the purchaser
11or holder of the certificate of sale is a party to the
12foreclosure, shall be sufficient to pass the title thereto.
13    (c) Claims Barred. Any vesting of title by a consent
14foreclosure pursuant to Section 15-1402 or by deed pursuant to
15subsection (b) of Section 15-1509, unless otherwise specified
16in the judgment of foreclosure, shall be an entire bar of (i)
17all claims of parties to the foreclosure and (ii) all claims of
18any nonrecord claimant who is given notice of the foreclosure
19in accordance with paragraph (2) of subsection (c) of Section
2015-1502, notwithstanding the provisions of subsection (g) of
21Section 2-1301 to the contrary. Any person seeking relief from
22any judgment or order entered in the foreclosure in accordance
23with subsection (g) of Section 2-1301 of the Code of Civil
24Procedure may claim only an interest in the proceeds of sale.
25    (d) The grantee named in a deed issued under this Section
26shall cause the deed to be recorded with the county recorder in

 

 

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1which the real estate is located within 60 days of delivery of
2the deed.
3(Source: P.A. 86-974.)