765 ILCS 905/0.01
(765 ILCS 905/0.01) (from Ch. 95, par. 50) Sec. 0.01. Short title. This Act may be cited as the Mortgage Act. (Source: P.A. 86-1324.)
765 ILCS 905
765 ILCS 905
in effect765 ILCS 905/1
(765 ILCS 905/1) (from Ch. 95, par. 51) Sec. 1. Any mortgage heretofore or hereafter executed by a public utility (as defined in Section 3-105 of The Public Utilities Act), or by any corporation that may own or operate, within the State, any plant, equipment or property that shall be used for or in connection with the conveyance of oil or gas by pipe line, in the manner provided for the execution of mortgages upon real estate, may include both real and personal property; and any mortgage heretofore or hereafter executed by such public utility or such oil or gas pipe line corporation upon its real and personal property shall constitute a valid lien upon all and every part of the property of the mortgagor which is described in such mortgage and which is situated in any county in this State where such mortgage is or shall be recorded in the manner provided for the recording of real estate mortgages, and such mortgages shall be governed by the provisions hereinafter stated for mortgages of real property. (Source: P.A. 85-1209.)
765 ILCS 905/2
(765 ILCS 905/2) (from Ch. 95, par. 52) Sec. 2. Every mortgagee of real property, his or her assignee of record, or other legal representative, having received full satisfaction and payment of all such sum or sums of money as are really due to him or her from the mortgagor, and every trustee, or his or her successor in trust, in a deed of trust in the nature of a mortgage, the notes, bonds or other indebtedness secured thereby having been fully paid before September 7, 1973, shall, at the request of the mortgagor, or grantor in a deed of trust in the nature of a mortgage, his or her heirs, legal representatives or assigns, or a person authorized by such mortgagor, grantor, heir, legal representative, or assign, in case such mortgage or trust deed has been recorded or registered, make, execute and deliver to the mortgagor or grantor in a deed of trust in the nature of a mortgage, his or her heirs, legal representatives or assigns, or a person authorized by the mortgagor, grantor, heir, legal representative, or assign, an instrument in writing executed in conformity with the provisions of this Section releasing such mortgage or deed of trust in the nature of a mortgage, which release shall be entitled to be recorded or registered and the recorder or registrar upon receipt of such a release and the payment of the recording fee therefor shall record or register the same. Mortgages of real property and deeds of trust in the nature of a mortgage shall be released of record only in the manner provided herein or as provided in the Mortgage Certificate of Release Act; however, nothing contained in this Act shall in any manner affect the validity of any release of a mortgage or deed of trust made prior to January 1, 1952 on the margin of the record. Except in the case of a mortgage that is required to be released under the Mortgage Certificate of Release Act, every mortgagee of real property, his or her assignee of record, or other legal representative, having received full satisfaction and payment of all such sum or sums of money as are really due to him or her from the mortgagor, and every trustee, or his or her successor in trust, in a deed of trust in the nature of a mortgage, the notes, bonds or other indebtedness secured thereby having been fully paid after September 7, 1973, shall make, execute and deliver to the mortgagor or grantor in a deed of trust in the nature of a mortgage, his or her heirs, legal representatives or assigns, or person authorized by such mortgagor, grantor, heir, legal representative, or assign, an instrument in writing releasing such mortgage or deed of trust in the nature of a mortgage or shall deliver that release to the recorder or registrar for recording or registering. If the release is delivered to the mortgagor or grantor, it must have imprinted on its face in bold letters at least 1/4 inch in height the following: "FOR THE PROTECTION OF THE OWNER, THIS RELEASE SHALL BE FILED WITH THE RECORDER OR THE REGISTRAR OF TITLES IN WHOSE OFFICE THE MORTGAGE OR DEED OF TRUST WAS FILED". The recorder, or registrar, upon receipt of such a release and the payment of the recording or registration fee, shall record or register the release. A certificate of release issued and recorded by a title insurance company or its duly appointed agent pursuant to the Mortgage Certificate of Release Act shall satisfy the requirements of this Section 2. (Source: P.A. 101-97, eff. 1-1-20.)
765 ILCS 905/3
(765 ILCS 905/3) (from Ch. 95, par. 53) Sec. 3. An instrument in writing which releases a mortgage or trust deed of real property may be acknowledged or proved in the same manner as deeds for the conveyance of land. (Source: Laws 1961, 1st Spec.Sess., p. 42.)
765 ILCS 905/4
(765 ILCS 905/4) (from Ch. 95, par. 54) Sec. 4. If any mortgagee or trustee, in a deed in the nature of a mortgage, of real property, or his or her executor or administrator, heirs or assigns, knowing the same to be paid, shall not, within 30 days after the payment of the debt secured by such mortgage or trust deed, comply with the requirements of Section 2 of this Act, he or she shall, for every such offense, be liable for and pay to the party aggrieved the sum of $200 which may be recovered by the party aggrieved in a civil action, together with reasonable attorney's fees. In any such action, introduction of a loan payment book or receipt which indicates that the obligation has been paid shall be sufficient evidence to raise a presumption that the obligation has been paid. Upon a finding for the party aggrieved, the court shall order the mortgagee or trustee, or his or her executor or administrator, heirs or assigns, to make, execute and deliver the release as provided in Section 2 of this Act. The successor in interest to the mortgagee or trustee in a deed in the nature of a mortgage shall not be liable for the penalty prescribed in this Section if he or she complies with the requirements of Section 2 of this Act within 30 days after succeeding to the interest. (Source: P.A. 101-97, eff. 1-1-20.)
765 ILCS 905/5
(765 ILCS 905/5) (from Ch. 95, par. 55) Sec. 5. Every deed conveying real estate, which shall appear to have been intended only as a security in the nature of a mortgage, though it be an absolute conveyance in terms, shall be considered as a mortgage. (Source: Laws 1961, 1st Spec.Sess., p. 42.)
765 ILCS 905/13
(765 ILCS 905/13) (from Ch. 95, par. 63) Sec. 13. Any person who has a mortgage lien upon any land against which there exists a prior mortgage may pay any interest or any installment of the principal or interest which may be in default upon any such prior mortgage and all such sums so paid shall become a part of the debt secured by such junior mortgage, shall bear interest from date of payment at the same rate as the indebtedness secured by such prior mortgage and shall be collectible with, as a part of and in the same manner, as the amount secured by such junior mortgage. (Source: Laws 1961, 1st Spec.Sess., p. 42.)
765 ILCS 905/13.1
(765 ILCS 905/13.1) Sec. 13.1. Real estate; real property. As used in this Act, "real estate" and "real property" include a manufactured home as defined in subdivision (53) of Section 9-102 of the Uniform Commercial Code that is real property as defined in the Conveyance and Encumbrance of Manufactured Homes as Real Property and Severance Act. (Source: P.A. 98-749, eff. 7-16-14.)
765 ILCS 905/14
(765 ILCS 905/14) (from Ch. 95, par. 64) Sec. 14. "An Act to revise the law in relation to mortgages of real and personal property and to validate certain transactions, including filings or recordings of mortgages of personal property, and affidavits of extension or renewal thereof, heretofore made or occurring," approved March 26, 1874, as amended, is repealed. (Source: Laws 1961, 1st Spec.Sess., p. 42.)
765 ILCS 905/15
(765 ILCS 905/15) (from Ch. 95, par. 65) Sec. 15. Notwithstanding the repeal of said Act approved March 26, 1874, any mortgage executed prior to midnight on July 1, 1962 in conformity with the provisions of said Act in effect at the time of the execution thereof may be recorded or filed, the lien and validity thereof may be extended or renewed, and such mortgages may be terminated, completed, consummated or enforced, and the rights, duties and interests flowing from any such mortgages shall remain and be valid all in the same manner and to the same extent and on the same terms as provided in said Act as if said Act continued in force for all such purposes after July 1, 1962. (Source: Laws 1961, 1st Spec.Sess., p. 42.)
765 ILCS 905/16
(765 ILCS 905/16) (from Ch. 95, par. 66) Sec. 16. This Act shall take effect at midnight on July 1, 1962. (Source: Laws 1961, 1st Spec.Sess., p. 42.)
765 ILCS 905/17
(765 ILCS 905/17) Sec. 17. Notwithstanding any other provisions of this Act: (1) The Act does not abrogate the Illinois common law that the payment in full of a debt secured by a mortgage extinguishes the lien. (2) Payment in full of a debt secured by a mortgage pursuant to a payoff statement, as defined in Section 5 of the Mortgage Certificate of Release Act, issued by or on behalf of the holder of the indebtedness extinguishes the lien of the mortgage. (Source: P.A. 104-101, eff. 8-1-25.)
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://www.ilga.gov/legislation/ilcs/ilcs.aspFetched: 10/17/2026