Grundy County Full Release of Memorandum of an Installment Sales Contract Form (Illinois)

All Grundy County specific forms and documents listed below are included in your immediate download package:

Full Release of Memorandum of an Installment Sales Contract Form

Grundy County Full Release of Memorandum of an Installment Sales Contract Form

Fill in the blank Full Release of Memorandum of an Installment Sales Contract form formatted to comply with all Illinois recording and content requirements.
Included Grundy County compliant document last validated/updated 9/13/2024

Full Release of Memorandum of an Installment Sales Contract Guide

Grundy County Full Release of Memorandum of an Installment Sales Contract Guide

Line by line guide explaining every blank on the Full Release of Memorandum of an Installment Sales Contract form.
Included Grundy County compliant document last validated/updated 9/13/2024

Completed Example of the Full Release of Memorandum of an Installment Sales Contract Document

Grundy County Completed Example of the Full Release of Memorandum of an Installment Sales Contract Document

Example of a properly completed Illinois Full Release of Memorandum of an Installment Sales Contract document for reference.
Included Grundy County compliant document last validated/updated 10/9/2024

When using these Full Release of Memorandum of an Installment Sales Contract forms, the subject real estate must be physically located in Grundy County. The executed documents should then be recorded in the following office:

Grundy County Clerk / Recorder

Courthouse - 111 E Washington St, Rm 12 / PO Box 675, Morris, Illinois 60450

Hours: 8:00am to 4:30pm M-F

Phone: (815) 941-3224

Local jurisdictions located in Grundy County include:

  • Braceville
  • Coal City
  • Gardner
  • Kinsman
  • Mazon
  • Minooka
  • Morris
  • South Wilmington
  • Verona

How long does it take to get my forms?

Forms are available immediately after submitting payment.

How do I get my forms, are they emailed?

Immediately after you submit payment, the Grundy County forms you order will be available for download directly from your account. You can then download the forms to your computer. If you do not already have an account, one will be created for you as part of the order process, and your login details will be provided to you. If you encounter any issues accessing your forms, please reach out to our support team for assistance. Forms are NOT emailed to you.

What does "validated/updated" mean?

This indicates the most recent date when at least one of the following occurred:

  • Updated: The document was updated or changed to remain compliant.
  • Validated: The document was examined by an attorney or staff, or it was successfully recorded in Grundy County using our eRecording service.
Are these forms guaranteed to be recordable in Grundy County?

Yes. Our form blanks are guaranteed to meet or exceed all formatting requirements set forth by Grundy County including margin requirements, content requirements, font and font size requirements.

Can the Full Release of Memorandum of an Installment Sales Contract forms be re-used?

Yes. You can re-use the forms for your personal use. For example, if you have more than one property in Grundy County that you need to transfer you would only need to order our forms once for all of your properties in Grundy County.

What are supplemental forms?

Often when a deed is recorded, additional documents are required by Illinois or Grundy County. These could be tax related, informational, or even as simple as a coversheet. Supplemental forms are provided for free with your order where available.

What type of files are the forms?

All of our Grundy County Full Release of Memorandum of an Installment Sales Contract forms are PDFs. You will need to have or get Adobe Reader to use our forms. Adobe Reader is free software that most computers already have installed.

Do I need any special software to use these forms?

You will need to have Adobe Reader installed on your computer to use our forms. Adobe Reader is free software that most computers already have installed.

Do I have to enter all of my property information online?

No. The blank forms are downloaded to your computer and you fill them out there, at your convenience.

Can I save the completed form, email it to someone?

Yes, you can save your deed form at any point with your information in it. The forms can also be emailed, blank or complete, as attachments.

Are there any recurring fees involved?

No. Nothing to cancel, no memberships, no recurring fees.

(A memorandum of the contract shall be titled "Memorandum of an Installment Sales Contract" )(765 ILCS 67/20)

Releasing a Memorandum of Installment Payment Contract in Illinois is important for several reasons, primarily related to clearing the title and confirming that the contractual obligations have been fulfilled. Here's why you might need to release a memorandum:

1. Clear the Property's Title
A Memorandum of Installment Payment Contract is typically filed to provide public notice that a contract exists between a buyer and a seller for the purchase of real estate under an installment payment agreement. This filing creates a cloud on the title, which means that anyone looking at the property records will see that there is an outstanding contract involving the property.
When the buyer finishes making all payments under the installment contract or the contract is otherwise terminated, a release must be filed to remove the cloud from the title. Without the release, it can create complications for future sales, refinances, or transfers of the property.

2. Confirm the Satisfaction or Termination of the Contract The release acts as a formal acknowledgment that the buyer has either:
Fulfilled their payment obligations and now owns the property outright, or
The contract has been canceled or terminated for other reasons (such as the buyer defaulting or both parties mutually agreeing to terminate).
Recording the release ensures that there is no misunderstanding or dispute regarding the status of the contract.

3. Enable the Buyer to Obtain Full Ownership
Under an installment payment contract, the seller retains the legal title to the property until the contract is fully paid off. Once the buyer completes their payments, they are entitled to full legal ownership.
Filing a release of the memorandum makes it clear in the public record that the installment contract has been completed, and the buyer can take full legal title to the property without any remaining encumbrances from the contract.

4. Facilitate Future Transactions
If the memorandum is not released, future buyers, lenders, or title companies will see the memorandum on the property’s title. This may make it difficult or impossible for the buyer to sell or refinance the property because it looks like there is still an outstanding installment contract.
A release ensures that the property is free from claims under the installment contract, making it easier for the buyer to proceed with any future real estate transactions.

5. Protect Both Parties
For the seller, recording the release ensures they have formally concluded their legal obligations under the contract.
For the buyer, it ensures that they have clear title to the property and there are no ongoing claims or obligations under the installment contract.

Legal and Procedural Considerations:
Once the contract is fulfilled or terminated, both the buyer and seller should sign a Release of Memorandum of Installment Contract and file it with the county recorder’s office where the original memorandum was recorded. This officially clears the property’s title.

In Illinois, failing to release a memorandum after the contract has been satisfied can cause legal and financial complications for both parties.

Our Promise

The documents you receive here will meet, or exceed, the Grundy County recording requirements for formatting. If there's an issue caused by our formatting, we'll make it right and refund your payment.

Save Time and Money

Get your Grundy County Full Release of Memorandum of an Installment Sales Contract form done right the first time with Deeds.com Uniform Conveyancing Blanks. At Deeds.com, we understand that your time and money are valuable resources, and we don't want you to face a penalty fee or rejection imposed by a county recorder for submitting nonstandard documents. We constantly review and update our forms to meet rapidly changing state and county recording requirements for roughly 3,500 counties and local jurisdictions.

4.8 out of 5 - ( 4434 Reviews )

James S.

November 21st, 2024

Forms used, created quitclaim deed that the county accepted without a second look (turns out they see deeds.com forms regularly via erecording and in person). Will be back for any real estate related forms I need and they carry. Will always be my first stop. Also, will use erecording next time, mad I didn't see it this time.

Reply from Staff

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November 21st, 2024

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November 20th, 2024

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October 17th, 2020

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April 3rd, 2019

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January 20th, 2019

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Reply from Staff

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August 9th, 2023

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Reply from Staff

Thank you for your kind words and thoughtful review! It's an honor to know that our resources have been valuable to the Kent County Recorder of Deeds. Your feedback is particularly meaningful to us, and we are glad that our white paper contributed to your research on Property Theft. We fully support your vital efforts to combat property theft and deed fraud, and if there's anything else we can assist you with or any further insights you'd like to share, please don't hesitate to reach out. Keep up the outstanding work!

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February 3rd, 2021

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October 8th, 2020

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June 22nd, 2021

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October 2nd, 2021

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January 12th, 2023

Process was easy. The instructions for TOD and a sample completed form was very helpful. E-recording of deed saved a trip to the county building and well worth the very reasonable charge.

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September 11th, 2020

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