770 ILCS 15/15
Priority
Illinois · Illinois Compiled Statutes 770 ILCS 15 — Commercial Real Estate Broker Lien Act. · Status: effective
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- Citation
- 770 ILCS 15/15, Priority, Illinois, version 1 as recorded 2026-08-15, yourstate.us, https://yourstate.us/provision/1301366
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Full text
Priority. Prior recorded liens and mortgages shall have priority over a broker's lien. A prior recorded lien shall include, without limitation, (i) a valid mechanic's lien claim that is recorded subsequent to the broker's notice of lien but which relates back to a date prior to the recording date of the broker's notice of lien; and (ii) prior recorded liens securing revolving credit and future advances of construction loans as described in Section 15-1302 of the Code of Civil Procedure. (Source: P.A. 87-779; 88-354.)