Illinois General Assembly - Full Text of SB3650
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Full Text of SB3650  102nd General Assembly

SB3650ham001 102ND GENERAL ASSEMBLY

Rep. Janet Yang Rohr

Filed: 4/4/2022

 

 


 

 


 
10200SB3650ham001LRB102 24547 LNS 38537 a

1
AMENDMENT TO SENATE BILL 3650

2    AMENDMENT NO. ______. Amend Senate Bill 3650 by replacing
3everything after the enacting clause with the following:
 
4    "Section 5. The Code of Civil Procedure is amended by
5changing Section 13-115 as follows:
 
6    (735 ILCS 5/13-115)  (from Ch. 110, par. 13-115)
7    Sec. 13-115. Foreclosure of mortgage; equitable mortgage;
8equitable lien against real estate; subrogation to a prior
9mortgage. Unless within 10 years after the right of action or
10right to make such sale accrues, no No person shall (i)
11commence an action or make a sale to foreclose any mortgage or
12deed of trust in the nature of a mortgage; or (ii) commence an
13action to establish an equitable mortgage, an equitable lien
14against real estate, or a claim for subrogation to a prior
15mortgage. For purposes of this Section, a right of action
16accrues when the debt held or new promise in writing to pay

 

 

10200SB3650ham001- 2 -LRB102 24547 LNS 38537 a

1such debt is in default. This amendatory Act of the 102nd
2General Assembly is declarative of existing law. , unless
3within 10 years after the right of action or right to make such
4sale accrues.
5(Source: P.A. 82-280.)".