No equitable right of redemption shall exist or be enforceable under or with respect to a mortgage after a judicial sale of the mortgaged real estate pursuant to Section 15-1507 or after entry of a judgment of foreclosure pursuant to Sections 15-1402 or 15-1403.
15-1605.Equitable Right of Redemption.
Article XV. Mortgage Foreclosure · Part 16. Reinstatement and Redemption · Not amended since adoption on record · Last verified July 20, 2026
In one sentenceShuts off the old common-law equitable right to redeem a mortgage once a judicial sale has happened or a foreclosure judgment has been entered, leaving the statutory redemption rights in this Part as the only path.
Full Text of 735 ILCS 5/15-1605
Plain-English Summary
Before Illinois built out the statutory redemption scheme in this Part, courts recognized an equitable right to redeem a mortgage rooted in general principles of fairness rather than a specific statute. This section closes that door once the case reaches a defined point.
Specifically, no equitable right of redemption can exist or be enforced once a judicial sale of the mortgaged property has occurred under Section 15-1507, or once a foreclosure judgment has been entered under Section 15-1402 or 15-1403. That leaves the statutory rights described in Sections 15-1602 through 15-1604 — reinstatement, ordinary redemption, and the special right to redeem — as the only available paths at that stage.
Frequently Asked Questions
What is the equitable right of redemption this section eliminates?
A right courts once recognized outside any statute, letting a mortgagor redeem property based on general fairness principles rather than a fixed statutory deadline.
When does the equitable right of redemption stop applying?
What redemption rights remain available after those events?
Only the statutory rights in this Part — reinstatement under Section 15-1602 and the redemption rights under Sections 15-1603 and 15-1604.
Does this section shorten the statutory redemption period?
No. It only closes off the separate, older equitable right; the statutory redemption periods in Section 15-1603 apply on their own terms.
Can a mortgagor argue equitable redemption after a foreclosure judgment is entered?
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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