IL Operations Summary

Recording Process

STATUTES:

• 735 ILCS 5/15-1217 (definition of recording in the Illinois Mortgage Foreclosure Law)

"Recording of instruments" or "to record" means to present to the Recorder a document, in recordable form, which is to be recorded in accordance with Section 3-5024 of the Counties Code, together with the required recording fee. The Registrar of Titles shall accept the filing of notices or affidavits required or permitted by this Article without the necessity of the production of evidence of title.

• 55 ILCS 5/3-5024 (Recording documents, from the Recorder’s Act)

When any instrument in writing is recorded in the recorder's office, the recorder shall indorse upon such instrument a certificate of the time (including the hour of the day) when the same was received for recordation (which shall be considered the time of recording the same), and the book and page in which the same is recorded. The recorder shall sign the certificate or shall affix his facsimile signature thereto. The certificate, when signed by the recorder, or to which he has affixed his facsimile signature, shall be evidence of the facts therein stated.

• 735 ILCS 5/15-1301 (Priority of a mortgage, Illinois Mortgage Foreclosure Law)

Except as provided in Section 15-1302, from the time a mortgage is recorded it shall be a lien upon the real estate that is the subject of the mortgage for all monies advanced or applied or other obligations secured in accordance with the terms of the mortgage or as authorized by law, including the amounts specified in a judgment of foreclosure in accordance with subsection (d) of Section 15-1603.

• 765 ILCS 5/39 (Priority under the Conveyancing Act)

Every mortgage or trust deed in the nature of a mortgage shall . . . from the time it is filed of record, . . . be a lien upon the real estate thereby conveyed . . . for all monies advanced or applied or which may at any time thereafter be advanced or applied . . . provided, that as to subsequent purchasers and judgment creditors, every such mortgage or trust deed shall, as to the monies advanced or applied . . . be a lien only from the time such monies are advanced or applied, unless such monies are advanced or applied within 18 months after the date of such recording. . . .

Permissions to use copyrighted material

Hi Neil!

Oh gosh, certainly you are very welcome! And gosh, you certainly do not have to give me credit. Just use it as you see fit to do so!

I have been to Woodstock. As I recall, there is a plaque in the street where Bill Murray repeatedly steps in the puddle!

Dick Bales Senior Underwriting Consultant & Counsel 552 S. Washington St., Suite 120 Naperville, Illinois 60540 Office: 331-330-9523 E-mail: dbales@propertitle.com www.propertitle.com [propertitle.com] NOTE: Office hours are on Thursdays and Fridays

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From: Neil Narut <nnarut@wfgnationaltitle.com> Sent: Wednesday, February 3, 2021 8:39 AM To: Dick Bales <dbales@propertitle.com> Subject: Material

Hey Dick. Thanks for letting me keep that stick with all your articles and giving me your blessing to share if anything topical comes up. I always credit you if I’m cutting and pasting. Such a wealth of information.

Hope to see you soon. I’ll come down there and we can get lunch.

I was laughing all day yesterday because you kept coming to mind, then coming to mind, then coming to mind, then coming to mind. Oh – because Groundhog Day was on AMC repeating all day!!

Neil F. Narut VP, Regional Underwriting Counsel WFG National Title Insurance Company

Office: 262 755-3545 NNarut@wfgnationaltitle.com | wfgagent.com [wfgagent.com] | LinkedIn [linkedin.com]