765 ILCS 905/17

Notwithstanding any other provisions of this Act:

(1) The Act does not abrogate the Illinois common law that the payment in full of a debt secured by a mortgage extinguishes the lien.

(2) Payment in full of a debt secured by a mortgage pursuant to a payoff statement, as defined in Section 5 of the Mortgage Certificate of Release Act, issued by or on behalf of the holder of the indebtedness extinguishes the lien of the mortgage.