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Recent Amendment Addresses In re Crane

March 07, 2013

By GREGORY E. SPITZER, BRADLEY V. RITTER, & AARON M. TUCKER

The Governor of Illinois has signed into law an amendment to the Illinois Conveyances Act which nullifies the controversial ruling of the In re Crane case. As a result of this amendment, the recent practice of disclosing the interest rate of a mortgage loan in the public record will no longer be viewed as obligatory.