Sec.[Section] 1. Be it enacted by the people of the state of Illinois represented in the General Assembly, That from and after the passage of this act it shall be deemed a sufficient release and extinction of any Mortgage granted upon any real estate, if the Mortgagee, his or her legal representative or assigns shall grant a full release of the same under his, her[,] or their seal and signature in the presence of an attesting witness, and acknowledge the execution of the such release in the same manner and under the same restrictions in which deeds are acknowledged by the existing laws of this State.