Illinois Compiled Statutes 735 ILCS 5/15-1405 – Power of Sale
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Terms Used In Illinois Compiled Statutes 735 ILCS 5/15-1405
- may: as used in this Article means permissive and not mandatory. See Illinois Compiled Statutes 735 ILCS 5/15-1105
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- State: when applied to different parts of the United States, may be construed to include the District of Columbia and the several territories, and the words "United States" may be construed to include the said district and territories. See Illinois Compiled Statutes 5 ILCS 70/1.14
No real estate within this State may be sold by virtue of any power of sale contained in a mortgage or any other agreement, and all such mortgages may only be foreclosed in accordance with this Article.