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Illinois Compiled Statutes

735 ILCS 5/15-1604 (2026)

Special Right to Redeem

✓ current as of May 2026
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(735 ILCS 5/15-1604) (from Ch. 110, par. 15-1604)
    Sec. 15-1604. Special Right to Redeem.
    (a) Circumstances. With respect to residential real estate, if (i) the purchaser at the sale was a mortgagee who was a party to the foreclosure or its nominee and (ii) the sale price was less than the amount specified in subsection (d) of Section 15-1603, then, and only in such circumstances, an owner of redemption as specified in subsection (a) of Section 15-1603 shall have a special right to redeem, for a period ending 30 days after the date the sale is confirmed, by paying to the mortgagee (i) the sale price, (ii) all additional costs and expenses incurred by the mortgagee set forth in the report of sale and confirmed by the court, and (iii) interest at the statutory judgment rate from the date the purchase price was paid or credited as an offset.
    (b) Procedure. Upon receipt of such amount, the mortgagee shall assign to the redeeming owner of redemption its certificate of sale or its right to such certificate or to a deed. The mortgagee shall give to the redeeming owner of redemption an executed duplicate of such assignment, marked "Duplicate", which duplicate the owner of redemption shall file with the court. If a deed has been issued to the mortgagee or its nominee, the holder of such deed, or such holder's successor in title, shall execute and deliver a deed conveying the mortgaged real estate to the redeeming owner of redemption subject only to those encumbrances that would normally arise on title if a redemption were made under Section 15-1603, including a deficiency, if any, resulting from the foreclosure sale. Nothing contained herein shall affect the right to a personal or in rem deficiency judgment, and enforcement thereof shall be allowed as provided by law. Any deficiency judgment shall retain the same priority on title as did the mortgage from which it arose. The mortgagee, its nominee or its successors in title shall not permit encumbrances on title arising on or after the date of the deed to the mortgagee or nominee caused by or relating to the mortgagee or its nominee or its successors in title.
(Source: P.A. 86-974.)

    
Notes of Decisions
Cited in 6 cases (1 in the last 5 years), 1998–2025 · leading case: HSBC Bank USA v. Kirkland Townsend, 793 F.3d 771 (7th Cir. 2015).
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HSBC Bank USA v. Kirkland Townsend, 793 F.3d 771 (7th Cir. 2015). “these rights expire before the sale — and in this case they have long since expired — why must the parties wait until the sale is confirmed before they can appeal? Why wouldn’t the judgment transform into an appealable judgment the moment these periods end? Or, given the special…”
Snowden v. Litton Loan Servicing Inc., 356 B.R. 429 (N.D. Ill. 2006). · cites it 2× “Snowden argued that for these reasons, at the time of his bankruptcy filing he held a “special right to redeem” under 735 ILCS 5/15-1604(a) that allowed him to cure the default on the mortgage note.”
In Re Scheldt, 220 B.R. 362 (Bankr. C.D. Ill. 1998). “See 735 ILCS 5/15-1604(a). By statute, Debtor’s special right to redeem expired November 23, 1997.”
In Re Snowden, 345 B.R. 607 (Bankr. N.D. Ill. 2006). “If a Chapter 13 case is filed prior to the expiration of a redemption right, section 108(b) of the Bankruptcy Code extends the redemption period to 60 days from the date that the bankruptcy case was commenced. 2 Since the foreclosure sale of Snowden’s property was confirmed by a…”
U.S. Bank Nat'l Ass'n v. Stachewicz, 2025 IL App (4th) 241504-U (Ill. App. Ct. 2025). “See 735 ILCS 5/15-1604(a) (West 2022) (requiring that the purchaser be the mortgagee and the sale price to be less than a specified amount).”
Snowden v. Litton Loan Servicing, Inc. (In Re Snowden), 352 B.R. 848 (Bankr. N.D. Ill. 2006). “But if a Chapter 13 case is filed prior to expiration of a redemption right, § 108(b) of the Bankruptcy Code extends the redemption period to 60 days from the date that the *853 bankruptcy case was commenced.”
735 ILCS 5/15-1604(a): 6 cases
HSBC Bank USA v. Kirkland Townsend, 793 F.3d 771 (7th Cir. 2015). “these rights expire before the sale — and in this case they have long since expired — why must the parties wait until the sale is confirmed before they can appeal? Why wouldn’t the judgment transform into an appealable judgment the moment these periods end? Or, given the special…”
Snowden v. Litton Loan Servicing Inc., 356 B.R. 429 (N.D. Ill. 2006). “Snowden argued that for these reasons, at the time of his bankruptcy filing he held a “special right to redeem” under 735 ILCS 5/15-1604(a) that allowed him to cure the default on the mortgage note.”
In Re Scheldt, 220 B.R. 362 (Bankr. C.D. Ill. 1998). “See 735 ILCS 5/15-1604(a). By statute, Debtor’s special right to redeem expired November 23, 1997.”
In Re Snowden, 345 B.R. 607 (Bankr. N.D. Ill. 2006). “If a Chapter 13 case is filed prior to the expiration of a redemption right, section 108(b) of the Bankruptcy Code extends the redemption period to 60 days from the date that the bankruptcy case was commenced. 2 Since the foreclosure sale of Snowden’s property was confirmed by a…”
U.S. Bank Nat'l Ass'n v. Stachewicz, 2025 IL App (4th) 241504-U (Ill. App. Ct. 2025). “See 735 ILCS 5/15-1604(a) (West 2022) (requiring that the purchaser be the mortgagee and the sale price to be less than a specified amount).”
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