Illinois General Assembly - Illinois Compiled Statutes

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765 ILCS 905/4

(765 ILCS 905/4) (from Ch. 95, par. 54)

Sec. 4.

If any mortgagee or trustee, in a deed in the nature of a mortgage, of
real property, or his or her executor or administrator, heirs or assigns, knowing
the same to be paid, shall not, within 30 days after the payment of the
debt secured by such mortgage or trust deed, comply with the requirements
of Section 2 of this Act, he or she shall, for every such offense, be liable for
and pay to the party aggrieved the sum of $200 which may be recovered by
the party aggrieved in a civil action, together with reasonable attorney's
fees. In any such action, introduction of a loan payment book or receipt
which indicates that the obligation has been paid shall be sufficient
evidence to raise a presumption that the obligation has been paid. Upon a
finding for the party aggrieved, the court shall order the mortgagee or
trustee, or his or her executor or administrator, heirs or assigns, to make,
execute and deliver the release as provided in Section 2 of this Act. The
successor in interest to the mortgagee or trustee in a deed in the nature
of a mortgage shall not be liable for the penalty prescribed in this
Section if he or she complies with the requirements of Section 2 of this Act
within 30 days after succeeding to the interest.

(Source: P.A. 101-97, eff. 1-1-20.)