Tilton, Ill., Mun. Code ch. 226 § 226-17
Recording substitution of beneficiary of deed of trust (Tilton Rental Properties Ordinance)
Operative Text
Within 10 days of the purchase and/or transfer of a loan/deed of trust secured by residential property, the new beneficiary/trustee shall record with the Vermilion County Recorder's office a substitution of beneficiary of deed of trust, or similar document, that lists the name of the corporation, entity and/or individual and the mailing address and contact phone number of the new beneficiary/trustee responsible for receiving payments associated with the loan/deed of trust.
Section 226-17 of Tilton's Municipal Code requires that whenever a residential loan or deed of trust is purchased or transferred, the new beneficiary or trustee must file a substitution-of-beneficiary document—or a comparable instrument—with the Vermilion County Recorder's office within 10 days. That filing must include the new beneficiary's or trustee's full name, mailing address, and contact phone number. The rule is designed to ensure that a clear, public record exists identifying who is responsible for receiving loan payments after any transfer of the debt instrument.
Plain English — not legal advice.
Under Tilton Mun. Code ch. 226 § 226-17, operators who acquire or receive a transfer of a residential loan or deed of trust generally record the required substitution-of-beneficiary document with the Vermilion County Recorder's office promptly—within the 10-day window the provision specifies. Compliant practice includes verifying that the recorded document contains the entity's or individual's full legal name, current mailing address, and a working contact phone number. Maintaining copies of the recorded instrument and the recorder's confirmation helps demonstrate timely compliance if questions arise later.
General guidance for property managers — not legal advice for your specific situation. Consult an attorney for advice on your case.
Section 226-17 of Tilton's Municipal Code creates a public record obligation that can benefit tenants whose landlord's loan or deed of trust has been sold or transferred: the new beneficiary or trustee is required to file identifying and contact information with the Vermilion County Recorder's office within 10 days. If a tenant is uncertain who currently holds the deed of trust on their rental property, they may search the Vermilion County Recorder's records to locate that information. Tenants who believe this provision has not been followed may wish to consult a tenant-rights organization or legal aid office familiar with Tilton's municipal requirements to understand what options may be available.
General guidance for tenants — not legal advice for your specific situation. Consult a tenant-rights organization or attorney for advice on your case.
Generated November 8, 2026 — auto-generated, not yet human-reviewed. See /transparency for methodology.
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