"Guarantor" means any person who has undertaken to pay any indebtedness or perform any obligation of a mortgagor under a mortgage or of any other person who owes payment or the performance of other obligations secured by the mortgage, which undertaking is made by a guaranty or surety agreement of any kind.
15-1204.Guarantor.
Article XV. Mortgage Foreclosure · Part 12. Definitions · Not amended since adoption on record · Last verified July 20, 2026
In one sentenceThis section defines “guarantor” as anyone who has agreed, through a guaranty or surety agreement, to pay a mortgagor's debt or perform another obligated person's duties under the mortgage.
Full Text of 735 ILCS 5/15-1204
Plain-English Summary
Section 15-1204 defines guarantor to include any person who has undertaken, by a guaranty or surety agreement of any kind, to pay an indebtedness or perform an obligation owed by a mortgagor, or by any other person who owes payment or performance of obligations secured by the mortgage.
The definition is deliberately broad about the form the undertaking can take, covering any guaranty or surety agreement, while limiting the substance to obligations that are secured by the mortgage in question. That keeps the guarantor category tied to the same mortgage debt the foreclosure concerns, distinct from the mortgagor, who is the person whose real estate interest secures the mortgage under Section 15-1209.
Frequently Asked Questions
Who counts as a guarantor under Article XV?
Anyone who, through a guaranty or surety agreement, has undertaken to pay an indebtedness or perform an obligation of a mortgagor or of another person who owes payment or performance secured by the mortgage.
Must the guaranty be in a particular form?
The statute covers a guaranty or surety agreement “of any kind,” so it is not limited to a single required format.
Is a guarantor the same as a mortgagor?
No. Section 15-1209 defines mortgagor by reference to the interest in real estate securing the mortgage, while a guarantor is defined by an undertaking to pay or perform a secured obligation.
Can a guarantor be involved in the foreclosure action?
The definition identifies who qualifies as a guarantor; the Article's other provisions govern how a guarantor may be treated in a given foreclosure.
Does a surety agreement count as a guaranty under this section?
Yes, the definition expressly covers a guaranty or surety agreement of any kind.
Amendment History
(Source: P.A. 84-1462.)
Source & verification. Section text and amendment history are
reproduced verbatim from the Illinois Compiled Statutes, published by the
Illinois Compiled Statutes, Illinois General Assembly / Legislative Reference Bureau. Last verified July 20, 2026.
· Official source
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