Illinois Compiled Statutes 815 ILCS 636/60 – Satisfaction of consumer lease
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Terms Used In Illinois Compiled Statutes 815 ILCS 636/60
- 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
After the payment of all sums for which the lessee is obligated under a consumer lease and upon the lessee’s written request, the holder shall mail to the lessee at the lessee’s last known address documentation to indicate payment in full. This documentation shall not operate to release the lessee from liability for events discovered by the holder subsequent to the mailing of the documentation. Except as otherwise set forth in Section 55, this documentation shall not operate to release the lessee from liability for events for which the lessee would be liable for if discovered by the lessor subsequent to the mailing of the documentation.