Legal Question in Real Estate Law in Illinois

Hello

I found at the recorders office in my county that there is no record of a current mortgage company on file. The previous company has released their interest. If I file a UCC financial form and place someone's name in a secured parties interest for the outstanding balance and have a signed security agreement with the person, what happens to the mortgage company's interest? By law they are suppose to file with the county.


Asked on 9/16/09, 10:05 am

1 Answer from Attorneys
Burton Padove Indiana and Illinois Lawyer, Burton A. Padove

Hello: You use the terms mortgage company and UCC. Is this real property or personal property?

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Answered on 9/21/09, 10:19 am


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