Bill Amendment: IL SB3650 | 2021-2022 | 102nd General Assembly

NOTE: For additional amemendments please see the Bill Drafting List

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Bill Title: LIMITATIONS-EQUITABLE MORTGAGE

Status: 2022-04-11 - Rule 19(a) / Re-referred to Rules Committee [SB3650 Detail]

Download: Illinois-2021-SB3650-House_Amendment_001.html

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Rep. Janet Yang Rohr

Filed: 4/4/2022

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

10200SB3650ham001 - 2 - LRB102 24547 LNS 38537 a
such debt is in default. This amendatory Act of the 102nd
General Assembly is declarative of existing law. , unless
within 10 years after the right of action or right to make such
sale accrues.
(Source: P.A. 82-280.)".