Illinois Compiled Statutes 765 ILCS 905/5 – Every deed conveying real estate, which shall appear to have been …
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Terms Used In Illinois Compiled Statutes 765 ILCS 905/5
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
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.