Property Ownership
A mortgage lien's priority in Illinois is generally determined by:
AThe loan amount — larger loans have higher priority
BThe date the mortgage is recorded in the public record✓ Correct
CThe creditworthiness of the borrower
DIDFPR designation of priority at the time of closing
Explanation
In Illinois, lien priority is generally determined by the date and time of recording — first to record has priority ('first in time, first in right'), with some exceptions for property taxes and mechanic's liens. A first mortgage recorded before a second mortgage has priority.
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