Clay County Full Release of Memorandum of an Installment Sales Contract Form

Clay County Full Release of Memorandum of an Installment Sales Contract Form
Fill in the blank Full Release of Memorandum of an Installment Sales Contract form formatted to comply with all Illinois recording and content requirements.

Clay County Full Release of Memorandum of an Installment Sales Contract Guide
Line by line guide explaining every blank on the Full Release of Memorandum of an Installment Sales Contract form.

Clay County Completed Example of the Full Release of Memorandum of an Installment Sales Contract Document
Example of a properly completed Illinois Full Release of Memorandum of an Installment Sales Contract document for reference.
All 3 documents above included • One-time purchase • No recurring fees
Immediate Download • Secure Checkout
Additional Illinois and Clay County documents included at no extra charge:
Where to Record Your Documents
County Clerk/Recorder
Louisville, Illinois 62858
Hours: 8:00 to 4:00 Monday through Friday
Phone: (618) 665-3626
Recording Tips for Clay County:
- Ensure all signatures are in blue or black ink
- Check that your notary's commission hasn't expired
- Have the property address and parcel number ready
Cities and Jurisdictions in Clay County
Properties in any of these areas use Clay County forms:
- Clay City
- Flora
- Ingraham
- Louisville
- Sailor Springs
- Xenia
Hours, fees, requirements, and more for Clay County
How do I get my forms?
Forms are available for immediate download after payment. The Clay County forms will be in your account ready to download to your computer. An account is created for you during checkout if you don't have one. Forms are NOT emailed.
Are these forms guaranteed to be recordable in Clay County?
Yes. Our form blanks are guaranteed to meet or exceed all formatting requirements set forth by Clay County including margin requirements, content requirements, font and font size requirements.
Can I reuse these forms?
Yes. You can reuse the forms for your personal use. For example, if you have multiple properties in Clay County you only need to order once.
What do I need to use these forms?
The forms are PDFs that you fill out on your computer. You'll need Adobe Reader (free software that most computers already have). You do NOT enter your property information online - you download the blank forms and complete them privately on your own computer.
Are there any recurring fees?
No. This is a one-time purchase. Nothing to cancel, no memberships, no recurring fees.
How much does it cost to record in Clay County?
Recording fees in Clay County vary. Contact the recorder's office at (618) 665-3626 for current fees.
Questions answered? Let's get started!
(A memorandum of the contract shall be titled "Memorandum of an Installment Sales Contract" )(765 ILCS 67/20)
Releasing a Memorandum of Installment Payment Contract in Illinois is important for several reasons, primarily related to clearing the title and confirming that the contractual obligations have been fulfilled. Here's why you might need to release a memorandum:
1. Clear the Property's Title
A Memorandum of Installment Payment Contract is typically filed to provide public notice that a contract exists between a buyer and a seller for the purchase of real estate under an installment payment agreement. This filing creates a cloud on the title, which means that anyone looking at the property records will see that there is an outstanding contract involving the property.
When the buyer finishes making all payments under the installment contract or the contract is otherwise terminated, a release must be filed to remove the cloud from the title. Without the release, it can create complications for future sales, refinances, or transfers of the property.
2. Confirm the Satisfaction or Termination of the Contract The release acts as a formal acknowledgment that the buyer has either:
Fulfilled their payment obligations and now owns the property outright, or
The contract has been canceled or terminated for other reasons (such as the buyer defaulting or both parties mutually agreeing to terminate).
Recording the release ensures that there is no misunderstanding or dispute regarding the status of the contract.
3. Enable the Buyer to Obtain Full Ownership
Under an installment payment contract, the seller retains the legal title to the property until the contract is fully paid off. Once the buyer completes their payments, they are entitled to full legal ownership.
Filing a release of the memorandum makes it clear in the public record that the installment contract has been completed, and the buyer can take full legal title to the property without any remaining encumbrances from the contract.
4. Facilitate Future Transactions
If the memorandum is not released, future buyers, lenders, or title companies will see the memorandum on the property’s title. This may make it difficult or impossible for the buyer to sell or refinance the property because it looks like there is still an outstanding installment contract.
A release ensures that the property is free from claims under the installment contract, making it easier for the buyer to proceed with any future real estate transactions.
5. Protect Both Parties
For the seller, recording the release ensures they have formally concluded their legal obligations under the contract.
For the buyer, it ensures that they have clear title to the property and there are no ongoing claims or obligations under the installment contract.
Legal and Procedural Considerations:
Once the contract is fulfilled or terminated, both the buyer and seller should sign a Release of Memorandum of Installment Contract and file it with the county recorder’s office where the original memorandum was recorded. This officially clears the property’s title.
In Illinois, failing to release a memorandum after the contract has been satisfied can cause legal and financial complications for both parties.
Important: Your property must be located in Clay County to use these forms. Documents should be recorded at the office below.
This Full Release of Memorandum of an Installment Sales Contract meets all recording requirements specific to Clay County.
Our Promise
The documents you receive here will meet, or exceed, the Clay County recording requirements for formatting. If there's an issue caused by our formatting, we'll make it right and refund your payment.
Save Time and Money
Get your Clay County Full Release of Memorandum of an Installment Sales Contract form done right the first time with Deeds.com Uniform Conveyancing Blanks. At Deeds.com, we understand that your time and money are valuable resources, and we don't want you to face a penalty fee or rejection imposed by a county recorder for submitting nonstandard documents. We constantly review and update our forms to meet rapidly changing state and county recording requirements for roughly 3,500 counties and local jurisdictions.
4.8 out of 5 - ( 4580 Reviews )
STEPHEN C.
January 22nd, 2020
Excellent service. Easy to use. Thank you.
We appreciate your business and value your feedback. Thank you. Have a wonderful day!
Michael W.
February 22nd, 2023
I thought it was fine, but I would like to have the option to download Word versions of each form, for easier preparation on my end.
We appreciate your business and value your feedback. Thank you. Have a wonderful day!
Troy B.
July 8th, 2020
Very pleased with website very simple to navigate through
Thank you for your feedback. We really appreciate it. Have a great day!
David S.
April 6th, 2024
This site was recommended by my County's Clerks office website. Let me tell you when I received my specific State and County's Quit Claim Deed forms from Deeds.com, every conceivable form that could be needed in addition to the full instructions, and a sample filled out form, I was impressed (five stars) and made things so easy for me to feel confident in my legal activity on a land transaction.
Thank you for your positive words! We’re thrilled to hear about your experience.
Julie C.
July 21st, 2020
The process worked great! It's a great solution for recording documents at the county during the pandemic and in the future if you don't want to leave home!!
Thank you!
Karen C.
October 23rd, 2019
Legal documents that served the purpose nothing too exciting.
Thank you Karen. Have a great day!
Janice T.
September 14th, 2020
The downloads were a great help in understanding of both what a Warranty Deed was and how to follow the steps as well as filling out the forms.
Thank you for your feedback. We really appreciate it. Have a great day!
James R.
August 10th, 2022
This site is a blessing in disguise-/>
Thank you!
Patrick M.
November 1st, 2019
Very useful and easy to use. Great value too. Especially liked the example.
Thank you for your feedback. We really appreciate it. Have a great day!
William M.
May 30th, 2025
I found your service for deeds easy to use and I was able to quickly get the information (forms, example of forms filled out, and guide for filling out the form) down downloaded. I wish all government services and information was as easy to use as your's was. Thank you!
We appreciate your business and value your feedback. Thank you. Have a wonderful day!
Barry B.
July 16th, 2021
Convenient and easy.
Thank you!
Brenda M. K.
August 2nd, 2020
Great service Easy to do Efficient
Thank you for your feedback. We really appreciate it. Have a great day!
Annette H.
April 7th, 2022
Clear directions. Giving a sample filled-in set of forms was great! Economical cost. Will refer others & use Deeds.com again.
We appreciate your business and value your feedback. Thank you. Have a wonderful day!
Ismael T.
January 19th, 2021
I was surprised and how quickly you guys process documents and helped on a mistake I had. Thank so much. I will definitely keep using Deeds.com
Thank you!
Glenn M.
July 21st, 2023
Fast, easy, saves money!!!
Thank you!