(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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