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Current as of January 01, 2025 | Updated by Findlaw Staff
§ 15-1207. Mortgage. “Mortgage” means any consensual lien created by a written instrument which grants or retains an interest in real estate to secure a debt or other obligation. The term “mortgage” includes, without limitation:
(a) mortgages securing “reverse mortgage” loans as authorized by subsection (a) of Section 5 of the Illinois Banking Act; 1
(b) mortgages securing “revolving credit” loans as authorized by subsection (c) of Section 5 of the Illinois Banking Act, 2 Section 1-6b of the Illinois Savings and Loan Act 3 and Section 46 of the Illinois Credit Union Act; 4
(c) every deed conveying real estate, although an absolute conveyance in its terms, which shall have been intended only as a security in the nature of a mortgage;
(d) equitable mortgages; and
(e) instruments which would have been deemed instruments in the nature of a mortgage prior to the effective date of this amendatory Act of 1987.
Cite this article: FindLaw.com - Illinois Statutes Chapter 735. Civil Procedure § 5/15-1207. Mortgage - last updated January 01, 2025 | https://codes.findlaw.com/il/chapter-735-civil-procedure/il-st-sect-735-5-15-1207/
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