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765 ILCS 5/39
(765 ILCS 5/39) (from Ch. 30, par. 37a)
Sec. 39.
Every mortgage or trust deed in the nature of a mortgage shall, as
to lands not registered under the provisions of an act entitled "An Act
Concerning Land Titles," approved and in force May 1, 1897, as subsequently
amended, from the time it is filed of record, and in the case of lands
registered under the provisions of said act entitled "An Act Concerning
Land Titles," approved and in force May 1, 1897, as subsequently amended,
from the time it is registered, or from the time of the filing of a caveat
as provided in said Act, be a lien upon the real estate thereby conveyed
situated in the county in which such instrument is recorded or registered,
for all monies advanced or applied or which may at any time thereafter be
advanced or applied thereunder on account of the principal indebtedness
which such mortgage or trust deed shall purport to secure and including
such other monies which may at any time be advanced or applied as are
authorized by the provisions of such mortgage or trust deed or as are
authorized by law; provided, that as to subsequent purchasers and judgment
creditors, every such mortgage or trust deed shall, as to the monies
advanced or applied thereunder on account of the principal indebtedness
evidenced by the notes, bonds or other instruments therein described and
thereby secured, 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 or registration, or filing of such caveat,
or unless the mortgagee is by contract obligated to make such advances or
applications, and provided further, that nothing in this Act contained
shall affect any lien arising or existing by virtue of the Mechanics Lien Act.
(Source: P.A. 96-328, eff. 8-11-09.)
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