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| | SB2002 Engrossed | | LRB097 09816 AJO 49972 b |
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1 | | AN ACT concerning civil law.
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2 | | Be it enacted by the People of the State of Illinois,
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3 | | represented in the General Assembly:
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4 | | Section 5. The Code of Civil Procedure is amended by |
5 | | changing Section 15-1503 as follows:
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6 | | (735 ILCS 5/15-1503) (from Ch. 110, par. 15-1503)
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7 | | Sec. 15-1503. Notice of Foreclosure. |
8 | | (a) A notice of foreclosure, whether
the foreclosure is |
9 | | initiated by complaint or
counterclaim, made in accordance with |
10 | | this Section and recorded in the
county in which the mortgaged |
11 | | real estate is located shall be constructive
notice of the |
12 | | pendency of the foreclosure to every person claiming an
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13 | | interest in or lien on the mortgaged real estate, whose |
14 | | interest or lien
has not been recorded prior to the recording |
15 | | of such notice of foreclosure.
Such notice of foreclosure must |
16 | | be executed by any party or any party's
attorney and shall |
17 | | include (i) the names of all plaintiffs and the case
number, |
18 | | (ii) the court in which the action was brought, (iii) the names |
19 | | of
title holders of record, (iv) a legal description of the |
20 | | real estate
sufficient to identify it with reasonable |
21 | | certainty, (v) a common address
or description of the location |
22 | | of the real estate and (vi) identification
of the mortgage |
23 | | sought to be foreclosed. An incorrect common address or
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| | SB2002 Engrossed | - 2 - | LRB097 09816 AJO 49972 b |
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1 | | description of the location, or an immaterial error in the |
2 | | identification
of a plaintiff or title holder of record, shall |
3 | | not invalidate the lis
pendens effect of the notice under this |
4 | | Section.
A notice which complies with this Section shall be |
5 | | deemed to comply with
Section 2-1901 of the Code of Civil
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6 | | Procedure and shall have the same effect as a notice filed |
7 | | pursuant to
that Section; however, a notice which complies with |
8 | | Section 2-1901 shall
not be constructive notice unless it also |
9 | | complies with the requirements of
this Section.
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10 | | (b) With respect to residential real estate, a copy of the |
11 | | notice of foreclosure described in subsection (a) of Section |
12 | | 15-1503 shall be sent by first class mail, postage prepaid, to |
13 | | the municipality within the boundary of which the mortgaged |
14 | | real estate is located, or to the county within the boundary of |
15 | | which the mortgaged real estate is located if the mortgaged |
16 | | real estate is located in an unincorporated territory. A |
17 | | municipality or county must clearly publish on its website a |
18 | | single address to which such notice shall be sent. If a |
19 | | municipality or county does not maintain a website, then the |
20 | | municipality or county must publicly post in its main office a |
21 | | single address to which such notice shall be sent. In the event |
22 | | that a municipality or county has not complied with the |
23 | | publication requirement in this subsection (b), then such |
24 | | notice to the municipality or county shall be provided pursuant |
25 | | to Section 2-211 of the Code of Civil Procedure. The notice |
26 | | provisions of this subsection (b) do not apply to any mortgaged |