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Cities & Villages Committee
Filed: 3/12/2009
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09600HB0967ham001 |
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LRB096 10686 AJO 23537 a |
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| AMENDMENT TO HOUSE BILL 967
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| AMENDMENT NO. ______. Amend House Bill 967 by replacing |
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| everything after the enacting clause with the following:
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| "Section 5. The Code of Civil Procedure is amended by |
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| changing Section 15-1503 as follows:
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| (735 ILCS 5/15-1503) (from Ch. 110, par. 15-1503)
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| Sec. 15-1503. Notice of Foreclosure. A notice of |
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| foreclosure, whether
the foreclosure is initiated by complaint |
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| or
counterclaim, made in accordance with this Section and |
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| recorded in the
county in which the mortgaged real estate is |
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| located shall be constructive
notice of the pendency of the |
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| foreclosure to every person claiming an
interest in or lien on |
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| the mortgaged real estate, whose interest or lien
has not been |
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| recorded prior to the recording of such notice of foreclosure.
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| While the municipality within the boundaries of which the |
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| property is located, or the township, if the area is |
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09600HB0967ham001 |
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LRB096 10686 AJO 23537 a |
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| unincorporated, shall not be joined as a party unless it is |
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| joined as a party under other provisions of this Article, the |
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| municipality or township shall be provided a copy of the |
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| recorded notice of foreclosure. The notice shall be sent within |
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| 15 days after the recording of the notice of foreclosure. The |
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| notice shall be sent by first class mail to the municipal or |
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| township clerk. Such notice of foreclosure must be executed by |
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| any party or any party's
attorney and shall include (i) the |
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| names of all plaintiffs and the case
number, (ii) the court in |
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| which the action was brought, (iii) the names, addresses, phone |
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| numbers, and other known contact information of
title holders |
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| of record, (iv) a legal description of the real estate
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| sufficient to identify it with reasonable certainty, (v) a |
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| common address
or description of the location of the real |
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| estate and (vi) identification
of the mortgage sought to be |
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| foreclosed. An incorrect common address or
description of the |
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| location, or an immaterial error in the identification
of a |
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| plaintiff or title holder of record, shall not invalidate the |
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| lis
pendens effect of the notice under this Section.
A notice |
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| which complies with this Section shall be deemed to comply with
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| Section 2-1901 of the Code of Civil
Procedure and shall have |
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| the same effect as a notice filed pursuant to
that Section; |
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| however, a notice which complies with Section 2-1901 shall
not |
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| be constructive notice unless it also complies with the |
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| requirements of
this Section.
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| (Source: P.A. 86-974.)
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