Illinois Statutes
§ 5-55 — Documents in trust
Illinois·Topic RIGHTS AND REMEDIES·Ch. 765 PROPERTY·Act 765 ILCS 170/ Conveyance and Encumbrance of Manufactured Homes as Real Property and Severance Act.·Art. Article 5 - Conveyance and Encumbrance of Manufactured Homes as Real Property and Severance Act
(a)Manufacturer's Statement of Origin. The holder of a Manufacturer's Statement of Origin to a manufactured home may deliver it to any person to facilitate conveying or encumbering the home. Any person receiving a Manufacturer's Statement of Origin so delivered holds it in trust for the person delivering it.
(b)Lien Release. The holder of a security interest in a manufactured home may deliver lien release documents to any person to facilitate conveying or encumbering the home. Any person receiving any such documents so delivered holds the documents in trust for the lienholder.
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Legislative History
(Source: P.A. 98-749, eff. 7-16-14.)
Nearby Sections
15
§ 5
§ 5§ 5-1
Short title§ 5-15
Affidavit of affixation§ 5-2
Findings and purpose§ 5-20
Disposition of liens§ 5-40
Exclusive procedure§ 5-45
Applicability§ 5-50
Affidavit of severance§ 5-55
Documents in trust§ 5.1
§ 5.1