A certificate of release, in substantially the following form, allowing for alterations to permit the inclusion of multiple mortgages, both presently and previously paid, complies with this Act.
 

CERTIFICATE OF RELEASE

Date: ……..        Title Order No.: …..

Terms Used In Illinois Compiled Statutes 765 ILCS 935/50

  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Mortgagee: The person to whom property is mortgaged and who has loaned the money.
  • Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • 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

     1. Name of mortgagor(s): …..
     2. Name of original mortgagee: …..
     3. Name of mortgage servicer (if any):…..
     4. Mortgage recording: Vol.: ….  Page: …..
           or Document No.: …..
     5. The above referenced mortgage has been paid in accordance with the payoff statement and there is no objection from the mortgagee or mortgage servicer or its successor in interest to the recording of this certificate of release.
     6. The person executing this certificate of release is an officer or duly appointed agent of a title insurance company authorized and licensed to transact the business of insuring titles to interests in real property in this State pursuant to Section 30 of this Act.
     7. This certificate of release is made on behalf of the mortgagor or a person who acquired title from the mortgagor to all or part of the property described in the mortgage.
     8. The mortgagee or mortgage servicer provided a payoff statement.
     9. The property described in the mortgage is as follows:
     Permanent Index Number: …..
     Common Address: …..
     (Name of title insurance company)
     By: …..
     (Name of officer and title or name of agent and
       name of officer / representative thereof)
     Address: …..
     Telephone No.: …..
 
State of Illinois)
                 )
County of        )
This instrument was acknowledged before me on …..(date)
by …..(name of person) as …..(officer for / agent of)
…..(title insurance company).
…..
Notary Public
My commission expires on …..
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