Illinois General Assembly - Illinois Compiled Statutes

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765 ILCS 935/10

(765 ILCS 935/10)

Sec. 10.

Mortgage presently being paid off.

Receipt of payment pursuant
to
the lender's
written payoff statement shall constitute authority to record a certificate of
release.
A certificate of release shall be delivered for recording to the
recorder
of each county in which the mortgage is recorded, together with the other
documents from the new transaction, including a deed or new mortgage, or
both by the title insurance company or its duly appointed agent.

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