Austin, TX asked in Real Estate Law, Foreclosure and Collections for Texas

Q: I live in TX and have a timeshare in IL that is being nonjudicially foreclosed. What is going to happen to us?

Can they take our home, business, or bank accounts? Please help! Which state’s laws apply in this case?

1 Lawyer Answer
Barry W. Kaufman
Barry W. Kaufman
  • Consumer Law Lawyer
  • Jacksonville, FL

A: I am not licensed in Illinois or Texas, but in general:

1. Illinois law applies to the foreclosure. If there is a money deficiency or judgment that you are personally liable for, the judgment will be entered in Illinois.

2. The judgment creditor, if it intends to execute on the Illinois judgment, would have to make the Illinois judgment into a Texas judgment, and that process would follow Texas law. Once the Illinois judgment is "domesticated" into Texas, it becomes a Texas judgment that is enforceable under Texas law.

3. If you want to defend the Illinois foreclosure (assuming that you can still do that), you'd need/want an Illinois lawyer.

4. Obviously, if the judgment is domesticated in Texas, you will want to retain a Texas lawyer to advise you.

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