This form may be used by the current mortgage holder or representative to release a mortgage that is paid in full.
To avoid penalty the (mortgagee)/lender, (his or her executor or administrator, heirs and assigns), generally has (30 days) to file the release (after the payment of the debt secured by such mortgage) (765 ILCS 905/4)
(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.)
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".
(765 ILCS 905/2)
Deeds.com Illinois Release of Mortgage Forms Have Been Updated as Recently as Monday August 1, 2022
What others like you are saying:
Walter T. said: Awesome thanks
Reply from Staff: Thank you for your feedback. We really appreciate it. Have a great day!
Richard O. said: Thank you for providing this service. It was quick and easy.
Reply from Staff: Thank you for your feedback. We really appreciate it. Have a great day!
OLGA B. said: I just purchased the documents. I appreciate that they are accurate to the county and state I live in and all the forms to make it complete. Thank you so much for your assistance in a very chaotic situation.
Reply from Staff: We appreciate your business and value your feedback. Thank you. Have a wonderful day!
Matilde A. said: Very easy to navigate... will be back to use!
Reply from Staff: Thank you for your feedback. We really appreciate it. Have a great day!
elizabeth m. said: Wonderful service, forms were great. Completed and ready for recording. Will check back in after recorded.
Reply from Staff: We appreciate your business and value your feedback. Thank you. Have a wonderful day!
Faye C. said: Product was ok; except in divorce cases there are usually two grantors - your form had only one signature and notary line for a grantor on the Quitclaim deed.
Reply from Staff: Thank you for your feedback. We really appreciate it. Have a great day!