I recently paid off the mortgage to my condo that my mother also has a name to it. We've been wanting to sell our condo for awhile, but when the pandemic hits, my mother doesn't want to do any travelling. She resides in Georgia. I live in the condo in Illinois. Both of our names are on... Read more »
Sellers typically do not attend the closings of the sale of the property. The sellers will execute the requisite closing documents in advance. Though I do not know the precise details of your proposed sale, I believe your mother can most likely execute the requisite documents in Georgia and send...Read more »
should i ask for my wife to be removed from selling documents since i am only one on title to make things easier, and if she is on agreement as a seller can it make it more difficult for tax paperwork (or anything else like that)
If this is your principal residence, your wife has homestead rights in the house and she will need to release those rights on the deed. You should hire an attorney to represent you with this transaction, and that attorney can explain these homestead rights more fully to you.
Generally, real estate sales contracts require the seller to deliver good and merchantable title to the buyer, which means conveying title clear of liens. It sounds like there is a lien that you would like to challenge. You should discuss the lien with the attorney representing you with the...Read more »
what is the homestead exemption in illinois if there is 4 names on the deed? I know illinois allows $15,000 for single and $30,000 for married, but it doesnt really specify for too much of anything else
735 ILCS 5/12-901 provides that "If 2 or more individuals own property that is exempt as a homestead, the value of the exemption of each individual may not exceed his or her proportionate share of $30,000 based upon percentage of ownership." This Section further provides that it" is...Read more »
Your neighbor most likely will order a survey for the buyer of their property. However, your neighbor (or the buyer or their property) is under no obligation to share that survey with you. The new buyer may purchase the property, aware that the fence encroaches on your property. If you are...Read more »
You may transfer any rights you have in the house by way of a quit claim deed. I recommend that you retain an attorney to assist you with this, to ensure it is done properly.
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