Public Act 99-0024 (IL)

Foreclosure: Special Representatives

 

Effective date – 01/01/2016

Statutes Amended – 735 ILCS 5/15-1501

 

The Act amends the Mortgage Foreclosure Article of the Code of Civil Procedure. It provides four additional circumstances in which the court is not required to appoint a special representative for a deceased mortgagor to defend the action: (i) beneficiary under a transfer on death instrument; (ii) person or entity that was conveyed title to the property by the deceased mortgagor prior to death; (iii) person or entity that was conveyed title to the property under the administration of the deceased's estate; or (iv) trust that was conveyed title to the property.

These four circumstances are in addition to the one circumstance listed previously that did not require appointment of a special representative: living person(s) or entity that holds 100% interest in the property by being a surviving joint tenant or surviving tenant by the entirety.

 

Bill Number: 
SB 0735
By: ATG Underwriting Department | Posted on: Mon, 07/20/2015 - 2:25pm