Illinois General Assembly - Illinois Compiled Statutes

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765 ILCS 935/50

(765 ILCS 935/50)

Sec. 50.

Form of certificate of release.

A certificate of release, in
substantially the following form, allowing for alterations to permit the
inclusion of multiple mortgages, both presently and previously paid, complies
with this Act.

CERTIFICATE OF RELEASE

Date: ........        Title Order No.: .....
    1. Name of mortgagor(s): .....
    2. Name of original mortgagee: .....
    3. Name of mortgage servicer (if any):.....
    4. Mortgage recording: Vol.: ....  Page: .....
          or Document No.: .....

5. The above referenced mortgage has been paid in accordance with the
payoff statement and there is no objection from the mortgagee or mortgage
servicer or its successor in interest to the recording of this certificate
of release.

6. The person executing this certificate of release is an
officer or duly appointed agent of a title insurance
company authorized and licensed to transact the business of
insuring titles to interests in real property in this State
pursuant to Section 30 of this Act.

7. This certificate of release is made on behalf of the
mortgagor or a person who acquired title from the mortgagor
to all or part of the property described in the mortgage.

8. The mortgagee or mortgage servicer provided a payoff
statement.

9. The property described in the mortgage is as follows:

    Permanent Index Number: .....
    Common Address: .....
    (Name of title insurance company)
    By: .....
    (Name of officer and title or name of agent and
      name of officer / representative thereof)
    Address: .....
    Telephone No.: .....

State of Illinois)
)
County of )
This instrument was acknowledged before me on .....(date)
by .....(name of person) as .....(officer for / agent of)
.....(title insurance company).
.....
Notary Public
My commission expires on .....

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