What is the purpose of a sheriff's deed in Illinois?

The purpose of a sheriff's deed in Illinois is to convey property ownership following a foreclosure auction. When a property is sold at a foreclosure auction due to non-payment of the mortgage, the sheriff's deed serves as the official document that transfers ownership from the original owner (the borrower) to the buyer (often the lender or a third party) who purchases the property at the auction. This deed holds significant legal weight as it signifies that the sale has taken place and the new owner has a recognized claim to the property.

In this context, the options related to transferring ownership via a warranty deed or forgiving a mortgage debt are distinct processes that do not apply to the specific action taken after a foreclosure auction. Additionally, providing tax lien information does not pertain to the conveyance of property after such an event, making the sheriff's deed unique in its function in the foreclosure process.