Illinois General Assembly - Illinois Compiled Statutes

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735 ILCS 5/15-1503

(735 ILCS 5/15-1503) (from Ch. 110, par. 15-1503)

Sec. 15-1503. Notice of foreclosure.

(a) A notice of foreclosure, whether
the foreclosure is initiated by complaint or
counterclaim, made in accordance with this Section and recorded in the
county in which the mortgaged real estate is located shall be constructive
notice of the pendency of the foreclosure to every person claiming an
interest in or lien on the mortgaged real estate, whose interest or lien
has not been recorded prior to the recording of such notice of foreclosure.
 Such notice of foreclosure must be executed by any party or any party's
attorney and shall include (i) the names of all plaintiffs and the case
number, (ii) the court in which the action was brought, (iii) the names of
title holders of record, (iv) a legal description of the real estate
sufficient to identify it with reasonable certainty, (v) a common address
or description of the location of the real estate and (vi) identification
of the mortgage sought to be foreclosed.  An incorrect common address or
description of the location, or an immaterial error in the identification
of a plaintiff or title holder of record, shall not invalidate the lis
pendens effect of the notice under this Section.
A notice which complies with this Section shall be deemed to comply with
Section 2-1901 of the Code of Civil
Procedure and shall have the same effect as a notice filed pursuant to
that Section; however, a notice which complies with Section 2-1901 shall
not be constructive notice unless it also complies with the requirements of
this Section.

(b) (Blank).
(Source: P.A. 102-15, eff. 6-17-21; 103-61, eff. 6-9-23.)