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

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

Full Release of Memorandum of an Installment Sales Contract Form

Kankakee 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 Kankakee County compliant document last validated/updated 9/13/2024

Full Release of Memorandum of an Installment Sales Contract Guide

Kankakee 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 Kankakee County compliant document last validated/updated 9/13/2024

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

Kankakee 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 Kankakee 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 Kankakee County. The executed documents should then be recorded in the following office:

Kankakee County Recorder of Deeds

189 East Court St, Rm. 201, Kankakee, Illinois 60901

Hours: 8:30 to 12:30 & 1:30 to 4:30 M-F

Phone: (815) 937-2980

Local jurisdictions located in Kankakee County include:

  • Aroma Park
  • Bonfield
  • Bourbonnais
  • Bradley
  • Buckingham
  • Essex
  • Grant Park
  • Herscher
  • Hopkins Park
  • Kankakee
  • Manteno
  • Momence
  • Reddick
  • Saint Anne
  • Union Hill

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 Kankakee 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 Kankakee County using our eRecording service.
Are these forms guaranteed to be recordable in Kankakee County?

Yes. Our form blanks are guaranteed to meet or exceed all formatting requirements set forth by Kankakee 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 Kankakee County that you need to transfer you would only need to order our forms once for all of your properties in Kankakee County.

What are supplemental forms?

Often when a deed is recorded, additional documents are required by Illinois or Kankakee 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 Kankakee 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 Kankakee 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 Kankakee 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

Thanks for the kind words James, glad we could help. Look forward to seeing you again.

Thomas G.

November 21st, 2024

Wasn’t what I expected

Reply from Staff

Sorry to hear that your expectations were missed. Your order has been canceled. We do hope that you find something more suitable to your expectations elsewhere. Do keep in mind that purchasing legal forms should not be an exploratory endeavor.

Jimmy P.

November 20th, 2024

They sent me everything I would need to do this. Easy purchase -Easy download. Great!! I'll be back here for all my document needs.

Reply from Staff

We appreciate your business and value your feedback. Thank you. Have a wonderful day!

Gina I.

June 14th, 2021

Found the forms I needed with no problem and easy to fill out thanks to the guide that is with it. Big help!

Reply from Staff

Thank you for your feedback. We really appreciate it. Have a great day!

Buster T.

April 19th, 2022

Very comprehensive - lots of additional forms and instructions.

Top-notch!

Reply from Staff

Thank you!

Cheryl C.

February 23rd, 2023

my only problem is the cost of the form I downloaded.

A bit cheaper would be nice

Reply from Staff

Thank you for your feedback. We really appreciate it. Have a great day!

Joseph D.

November 14th, 2024

Easy to use and a quick turnaround rnDeed was recorded and retuned within 24 hours

Reply from Staff

We are grateful for your engagement and feedback, which help us to serve you better. Thank you for being an integral part of our community.

irene w.

February 11th, 2021

Just found this site, what a great resource !

Thank you so much for providing affordable
help to those of us navigating estate planning
mazes. The forms were all very easy to download,
even on our rather ancient computer, and the
accompanying explanations were in clear,
understandable English designed to explain,
with appropriate cautions to avoid problems.

Reply from Staff

Thank you for your feedback. We really appreciate it. Have a great day!

Kim P.

July 23rd, 2021

I want to thank you so much. You made a stressful process easy. The customer service was amazing. There is no doubt I will use your service again.

Reply from Staff

Thank you!

Rachel F.

April 14th, 2022

Wonderful forms as long as you know what you need. Do some research ahead of time so you can avoid looking like an idiot ordering the incorrect form for your situation.

Reply from Staff

Thank you!

Lynn S.

July 22nd, 2020

Great service. I did not have to put much thought into the process!!!
Worth the $15.00 extra!!

Reply from Staff

Thank you for your feedback. We really appreciate it. Have a great day!

Lucinda E.

October 14th, 2019

I thought this form was great and easy to complete but the instructions were unclear as to whether the grantee- beneficiaries needed to sign and notarize their signatures as well. It did not appear to be the case but it would be helpful if the instructions spelled this out better.

Reply from Staff

Thank you for your feedback. We really appreciate it. Have a great day!

Michael C.

November 20th, 2022

No Search feature on the site? How do I look for forms?

Reply from Staff

Thank you for your feedback. We really appreciate it. Have a great day!

Lana B.

August 25th, 2019

Was very helpful!

Reply from Staff

Thank you!

april m.

February 7th, 2019

Could not give me any deed history prior to 1986, when our company bought the property, so this was a bust.

Reply from Staff

Thank you for your feedback April. Have a great day.