Illinois General Assembly - Bill Status for SB1443

Synopsis As Introduced
Amends the Mortgage Act. Provides that the Act does not abrogate the Illinois common law that the payment in full of a debt secured by a mortgage extinguishes the lien. Provides that payment in full of a debt secured by a mortgage pursuant to a payoff statement, as defined in the Mortgage Certificate of Release Act, issued by or on behalf of the holder of the indebtedness extinguishes the lien of the mortgage. Effective immediately.

Actions

Date	Chamber	Action
1/31/2025	Senate	Filed with Secretary by Sen. Michael E. Hastings
1/31/2025	Senate	First Reading
1/31/2025	Senate	Referred to Assignments
2/11/2025	Senate	Assigned to Judiciary
2/20/2025	Senate	Do Pass Judiciary; 006-000-000
2/20/2025	Senate	Placed on Calendar Order of 2nd Reading February 25, 2025
2/27/2025	Senate	Second Reading
2/27/2025	Senate	Placed on Calendar Order of 3rd Reading March 4, 2025

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