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(735 ILCS 5/15-1509) (from Ch. 110, par. 15-1509)
Sec. 15-1509.
Transfer of Title and Title Acquired.
(a) Deed. After (i) confirmation
of the sale, and (ii) payment of the purchase price and any other
amounts required to be paid by the purchaser at sale, the court (or, if the
court shall so order, the person who conducted the
sale or such person's successor or some persons specifically appointed
by the court for that purpose), shall upon the request of the holder
of the certificate of sale
(or the purchaser if no certificate of sale was issued), promptly
execute a deed to the
holder or purchaser sufficient to convey
title. Such deed
shall identify the court and the caption of the case in which judgment was
entered authorizing issuance of the deed. Signature and the recital in the
deed of the title or authority of the person signing the deed as grantor,
of authority pursuant to the judgment and of the giving of the notices
required by this Article is sufficient proof of the facts recited and of
such authority to execute the deed, but such deed shall not be construed to
contain any covenant on the part of the person executing it. If the deed
issues to a grantee prior to the expiration of the period for appealing the
confirmation of sale, and the grantee conveys title to
another party within that period, that other party will not be deemed a
bona fide purchaser unless and until such period expires without an appeal
having been filed or, an appeal having been filed, such appeal is denied or
withdrawn.
(b) Effect Upon Delivery of Deed. Delivery of the deed executed on the
sale of the real estate, even if the purchaser or holder of the certificate
of sale is a party to the foreclosure, shall be sufficient to pass the
title thereto.
(c) Claims Barred. Any vesting of title by a consent foreclosure
pursuant to Section 15-1402 or by deed pursuant to subsection (b) of
Section 15-1509, unless otherwise specified in the judgment
of foreclosure, shall be an entire bar of (i) all claims of parties to the
foreclosure and (ii) all claims of any nonrecord claimant who is given
notice of the foreclosure in accordance with paragraph (2) of subsection
(c) of Section 15-1502, notwithstanding the provisions of subsection (g) of
Section 2-1301 to the contrary. Any person seeking relief from any
judgment or order entered in the foreclosure in accordance
with subsection (g) of Section 2-1301 of the Code of Civil Procedure may
claim only an interest in the proceeds of sale.
(Source: P.A. 86-974.)
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