Illinois Transfer Order Within Division To Mechanics Lien Section is a legal document issued by an Illinois court to transfer a mechanics lien from one division of a court to another. This document is typically used when a lien has been filed in one court division and needs to be transferred to another court division. This transfer order allows the lien to be enforced and collected in the new court division. There are two types of Illinois Transfer Order Within Division To Mechanics Lien Section: a transfer of a lien from one court division to another within the same county court, and a transfer of a lien from one court division to another in a different county court. The transfer order must be signed by the clerk of the court, and will include the details of the lien, the transferor, the transferee, and the date of transfer.
Illinois Transfer Order Within Division To Mechanics Lien Section
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13-115. Foreclosure of mortgage. No person shall commence an action or make a sale to foreclose any mortgage or deed of trust in the nature of a mortgage, unless within 10 years after the right of action or right to make such sale accrues.
The statute of limitations is five years for a claim involving personal property (735 ILCS 5/13-205).
15-1208. Mortgagee. "Mortgagee" means (i) the holder of an indebtedness or obligee of a non-monetary obligation secured by a mortgage or any person designated or authorized to act on behalf of such holder and (ii) any person claiming through a mortgagee as successor.
Section 5 of the Illinois Mechanics Lien Act states, ?It shall be the duty of the contractor to give the owner, and the duty of the owner to require of the contractor, before the owner or his agent, architect, or superintendent shall pay or cause to be paid to the contractor or to his order any moneys or other
The appellate court noted that Section 17(b) of the Mechanics Lien Act (770 ILCS 60/17(b)), specifically allows for attorney fees where the owner was ?without just cause or right? to withhold payment to the lien claimants for the base contract price.
38.1. Substitution of bond for lien. of a lien claim, including an owner, former owner, association representing owners organized under any statute or to which the Common Interest Community Association Act applies, or the contractor or subcontractor.
15-1209. Mortgagor. "Mortgagor" means (i) the person whose interest in the real estate is the subject of the mortgage and (ii) any person claiming through a mortgagor as successor. Where a mortgage is executed by a trustee of a land trust, the mortgagor is the trustee and not the beneficiary or beneficiaries.
In Illinois, your mortgage loan will automatically default after 90 days without payment. At this point, your lender will send a Notice of Default (NOD), which serves the purpose of informing you of their intent to foreclose on your property due to lack of payment.