Morris, IL asked in Probate for Illinois

Q: I'm looking to be sure I fully understand the below agreement between my brother and I in regards to an estate:

I withdrew last names:

Brandon agrees to pay Brooke 20% of actual cash value (ACV) of the

above listed property after all debt (current and unknown) and fees paid relevant to

Marilyn and Mark’s estate and property.

Fees include but are not limited to active real estate mortgage, unresolved IRS and

Illinois taxes, Cook County property taxes, home insurance, attorney/legal fees,

unknown debt and collections, out of pocket construction and maintenance to sustain

above said real estate.

Brandon agrees to pay Brooke the 20% of ACV after all the following have been


● Marilyn and Mark estates have been settled and closed

● Real estate title is free and clear, and transferred to Brandon

● New mortgage is obtained in Brandon's name

Upon payment of property, Brooke relinquishes rights to above said estates

and/or property.

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1 Lawyer Answer
Nina Whitehurst
Nina Whitehurst
  • Probate Lawyer
  • Crossville, TN

A: What is your question?

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