Illinois Compiled Statutes 735 ILCS 5/13-104 – Under mortgage or lease
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Terms Used In Illinois Compiled Statutes 735 ILCS 5/13-104
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
Nothing in Sections 13-102 and 13-103 of this Act affects the time for the enforcement of any right under or by virtue of a mortgage or lease.