Sec. 15. Priority.
82 words·~1 min read·
/il/chapter-770/act-15/15A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Sec. 15. 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.