Illinois General Assembly - Illinois Compiled Statutes

Updating the database of the Illinois Compiled Statutes (ILCS) is an ongoing process. Recent laws may not yet be included in the ILCS database, but they are found on this site as Public Acts soon after they become law. For information concerning the relationship between statutes and Public Acts, refer to the Guide.

Because the statute database is maintained primarily for legislative drafting purposes, statutory changes are sometimes included in the statute database before they take effect. If the source note at the end of a Section of the statutes includes a Public Act that has not yet taken effect, the version of the law that is currently in effect may have already been removed from the database and you should refer to that Public Act to see the changes made to the current law.

765 ILCS 935/40

(765 ILCS 935/40)

Sec. 40.

Wrongful or erroneous certificate of release.


Recording of a wrongful or erroneous certificate of release by a
title insurance company or its
title insurance
agent shall not relieve the mortgagor or the
mortgagor's successors or assignees from any personal liability on the loan or
other obligations secured by the mortgage. In addition to any other remedy
provided by law, a title insurance company
executing or
recording a certificate of release
under this Act is liable to the
mortgagee for actual damages sustained due to the recording of the certificate
of release.
The prevailing party
in any action or proceeding seeking actual damages due to
the recording of a certificate of release shall be entitled
to the recovery of reasonable attorneys fees and costs
incurred in that action or proceeding.

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