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Amends the Mortgage Act. Provides that the Act does not abrogate the Illinois common law that the payment in full of a debt secured by a mortgage extinguishes the lien. Provides that payment in full of a debt secured by a mortgage pursuant to a payoff statement, as defined in the Mortgage Certificate of Release Act, issued by or on behalf of the holder of the indebtedness extinguishes the lien of the mortgage. Effective immediately.
Introduced
Apr 9, 2025
Last Action
Aug 1, 2025
Session
IL 104th
Sponsors
2 primary · 0 co
Effective Date August 1, 2025
Public Act . . . . . . . . . 104-0101
Governor Approved
Sent to the Governor
Passed Both Houses
Third Reading - Short Debate - Passed 113-000-000
Placed on Calendar Order of 3rd Reading - Short Debate
Second Reading - Short Debate
Held on Calendar Order of Second Reading - Short Debate
Placed on Calendar 2nd Reading - Short Debate
Do Pass / Short Debate Judiciary - Civil Committee; 019-000-000
Assigned to Judiciary - Civil Committee
Referred to Rules Committee
Chief House Sponsor Rep. Daniel Didech
First Reading
Placed on Calendar Order of 3rd Reading
Third Reading - Passed; 056-000-000
Arrived in House
Placed on Calendar Order of 3rd Reading **
Second Reading
Placed on Calendar Order of 3rd Reading March 4, 2025
Do Pass Judiciary; 006-000-000
Placed on Calendar Order of 2nd Reading February 25, 2025
Assigned to Judiciary
Filed with Secretary by Sen. Michael E. Hastings
Referred to Assignments
First Reading
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Public Act . . . . . . . . . 104-0101
Michael E. Hastings
Daniel Didech