Illinois Real Estate Legal Questions

Sylvia, based on your description, even though the contract was not signed, the parties have been acting as if there is a signed document.  I am not certain as to why you are being evicted as that is not clear from your comments.  I would recommend that you contact a lawyer who should review the contract and any additonal information you can provide, so that you can be advised of your options.  Thank you. Bob... Read More

There are too many different variables to answer the question of what will happen to specific assets, as it currently is asked.  It depends on numerous factual issues.   Should you choose to file, a temporary "stay" is put in place delaying creditor actions on specific property, which may delay the foreclosure. You should consult a local bankruptcy attorney because each state has unique exemption laws and a local attorney can determine what assets can be exempted.  Most bankruptcy attorneys offer a free initial consultations to determine if bankruptcy is appropriate. This is not intended to be legal advice, and is general in its nature. No attorney-client relationship exists or is formed by this information. Furthermore, this does not represent the views or opinions of LexisNexis or its affiliated companies.... Read More

This should be fairly easy to do.  I would ask whichever title or escrow company handled your taking title to the property for a Quitclaim Deed form.  You are the Grantor under your old name and you will quitclaim your interest to your husband and yourself (under your married name).  The legal description of the property should be inserted.  Your signature must be notarized and the deed should then be recorded.  Good luck..... Read More

First I would suggest that you determine with certainty who is in title to the property.  You can do this by going to the county Recorder's office.  Many Recorders in Illinois have web sites where you can obtain the necessary information. If it turns out that you are not in title to the property, the normal way to change that is with a deed signed by someone or everyone who is in title.... Read More

Illinois law governs the house.  Whether or not your mother can keep it requires the answers to several more questions.  I urge you to contact an attorney in Alton experienced in real estate matters. As to Social Security, that also requires more information to determine.  I suggest that you try the Social Security Administration's web sit at www.ssa.gov.  You can get answers to questions and apply for benefits there.... Read More

Generally, all that is needed to transfer title to a condominium unit is to record a deed.  Your condo association and local municipality could have additional requirements. Your mortgage almost certainly contains a "due on sale" clause that would allow them to call your loan immediately due and payable.  You can ask them to waive that provision in this case.  You could simply keep paying the mortgage on time and the bank would probably never find out that you had transferred the property, but then you run the risk that they could always call your loan due at any time.... Read More

You could file suit against him, but that would be unlikely to be effective.  I suggest that you personally gather all the evidence, including Facebook printouts, any kind of records you have that show he was at the property at the time of the theft, statements of witnesses who know he was there or have knowledge of his possession of your property.  Include the address of where the thief lives.  Organize in well and take it to the police department in the town where your house is located.  If they do not have a detective or someone in authority for you to talk to, ask to speak to the police chief. If you hand police a case complete with evidence to prove it, they are more likely to pursue it.  All they would have to do is make the arrest.... Read More

Property taxes are assessed at the county level and each county handles appeals differently.  Most counties have a specified time window in which to file assessment appeals.  The deadline in many counties in Illinois is in the first or second week of September.  Since real estate taxes are paid in arrears, if you are successful in lowering the assessed value of the property this year, it will not be reflected in your tax payment until the following year.  A successful appeal in 2012 will be reflected in the first installment of real estate taxes, which will come due in the spring of 2013.  To successfully appeal the assessed value, you will typically need some evidence of the value of the property.  The most common and successful ways of demonstrating the current value is a recent appraisal or a settlement statement from a recent arms-length purchase.  Generally comparable properties alone are not sufficient to have an assessment lowered, unless they have been incorporated to an appraisal report prepared by a professional appraiser.  Some counties simply require you bring evidence of the valuation to the county assessor's office in the specified time frame.  The process is more onerous in other counties, in which my you may be better served to hire an attorney to handle the appeal in the county you are located.  A good starting point would be to contact your county assessor to determine the process for appealing assessments in the county where the property is located. This is general advice not commencing the attorney client relationship, nor is it protected under attorney client privilege.  Randy Green is an attorney at Meyer Capel, a Professional Corporation E-mail: rgreen@meyercapel.com Phone: (217)352-1800... Read More

Ordinarily, when you buy a house, the property is transferred by means of a warranty deed.  With this type of deed, the seller warrants that he owns the house and is transferring good title.  A quit claim deed contains no such warranty.  It transfers whatever interest the seller has, if any, to the buyer.  If he does not have title, no interest is transferred.  If he has title, but there are liens on the property, the buyer is stuck with those liens. When you buy a house in Illinois, the seller generally proves that he has good "marketable" title through title insurance.  This is generally a requirement in a real estate sale contract.  I suggest that you talk to a competent real estate lawyer about the specifics of your transaction before doing anything more. James B. SpinaLaw Offices of James B. Spina, Ltd.708-647-1900jbs@spinalaw.com... Read More

  Failure to pay homeowners' association dues can give rise to a lien on the property being assessed.  The association may or may not elect to pursue further collection action.  Even if you don't intend to sell in the near future, a lien will become of public record and you will likely be required to clear the lien when selling your home in the future.  If the dues have become severely delinquent, you may end up paying a substantial amount in fees in penalties on top of the dues that are in arrears to ultimately clear the lien from title in the future.  You should speak with your bankruptcy attorney to determine what impact, if any, the bankruptcy proceeding has on your obligation to pay dues or the association's ability to place a lien on the property for non-payment.  Generally decisions are made by a board of homeowners who have been elected by the members of the association and every decision does not require individual homeowner input.  If you are unhappy with the way the association is being run, you may want to consider running for a position on the board to make sure your voice is heard.    This is general advice not commencing the attorney client relationship, nor is it protected under attorney client privilege.  Randy Green is an attorney at Meyer Capel, a Professional Corporation E-mail: rgreen@meyercapel.com Phone: (217)352-1800... Read More

While it is not "required" to hire a real estate attorney when buying or selling real estate, it is usually advisable to do so.  For most people, their home is the largest investment they will ever make and hiring an attorney is a great way to help ensure you are receiving clear title to your most valuable asset.  When buying real estate, an attorney will typically assist you with review and negotiation of the contract, examination of the title commitment, assistance in clearing impermissible title exceptions, examination of the Deed for accuracy, calculation of closing credits and prorations, and general tax advice regarding the transaction.  When selling real estate an attorney will typically assist with many of the items listed above, but will also draft the Deed of conveyance, order title work, and prepare the P-Tax form for reporting transfer taxes in Illinois.  While a real estate agent is very helpful in the home buying/selling process, they are prohibited from offering  legal advice, including interpretation of contract terms.  Also, while a real estate agent may be acting in a dual agency role, prohibiting him/her from advising either party in any substantive way, an attorney must represent only your best interests througout the transaction.  This is general advice not commencing the attorney client relationship, nor is it protected under attorney client privilege.  Randy Green is an attorney at Meyer Capel, a Professional Corporation E-mail: rgreen@meyercapel.com Phone: (217)352-1800  ... Read More

Property taxes are assessed at the county level and each county handles appeals differently.  Most counties have a specified time window in which to file assessment appeals.  The deadline in many counties in Illinois is in the first or second week of September.  Since real estate taxes are paid in arrears, if you are successful in lowering the assessed value of the property this year, it will not be reflected in your tax payment until the following year.  A successful appeal in 2012 will be reflected in the first installment of real estate taxes, which will come due in the spring of 2013.  To successfully appeal the assessed value, you will typically need some evidence of the value of the property.  The most common and successful ways of demonstrating the current value is a recent appraisal or a settlement statement from a recent arms-length purchase.  Some counties simply require you bring evidence of the valuation to the county assessor's office in the specified time frame.  The process is more onerous in other counties, in which my you may be better served to hire an attorney to handle the appeal in the county you are located.  A good starting point would be to contact your county assessor to determine the process for appealing assessments in the county where the property is located. This is general advice not commencing the attorney client relationship, nor is it protected under attorney client privilege.  Randy Green is an attorney at Meyer Capel, a Professional Corporation E-mail: rgreen@meyercapel.com Phone: (217)352-1800  ... Read More

Many condo associations prohibit or limit the ability of condo unit owners to rent the unit to tenants.  The primary reason associations place restrictions on rental is to preserve the value of the development and the surrounding properties.  The reasoning being, that tenants have less of an incentive to maintain the property as compared to owners, who must maintain the property in good condition to ensure that it will appreciate (or as is often the case in the current market, depreciate as little as possible) for when they ultimately sell the property.  A prohibition on renting a condominium unit is just that, a prohibition.  The prohibition alone does not dictate what a condo owners must do in the affirmative.  In other words, a condo unit owner could elect to move out of his/her condo unit and leave it vacant even if there is a restriction against renting. Another thing to keep in mind is that just because a rental payment isn't exchanged or a written lease isn't signed by the parties, does not mean that the property isn't being rented for purposes of the prohibition.  Most residential mortgage documents include a representation by the mortgagor that the property is intended for use as a primary residence within 60 days.  Further, to maintain a homestead exemption on the unit for property tax purposes, the owner is supposed to occupy the property as his/her principal residence.  This is general advice not commencing the attorney client relationship, nor is it protected under attorney client privilege.  Randy Green is an attorney at Meyer Capel, a Professional Corporation E-mail: rgreen@meyercapel.com Phone: (217)352-1800... Read More

The process for merger depends on how the HOA's are organized.  If they have been organized as Illinois not-for-profit corporations, they will be permitted to merge so long as the appropriate steps are taken by the directors and members of the respective associations.  First, the directors of each association, must pass a resolution setting forth the details of the merger.  This is often accomplished by seeking approval of a Plan of Merger, which sets forth details of the merger, such as which entity will survive and how membership from the dissolving entity will be transferred into membership of the surviving entity.  Second, the Plan of Merger must should be submitted to a vote by the members of each association.  Unless the By-Laws or other governing documents of either association requires a different threshold, the approval from at least 2/3 of the members of each association is required to approve the Plan of Merger.  Assuming the Plan of Merger is approved by the requisite percentage of members, Not-For-Profit Articles of Merger must then be filed with the Illinois Secretary of State to complete the merger.  This is general advice not commencing the attorney client relationship, nor is it protected under attorney client privilege.  Randy Green is an attorney at Meyer Capel, a Professional Corporation E-mail: rgreen@meyercapel.com Phone: (217)352-1800 ... Read More

 Question: What type of attorney can draw up a mortgage contract? Answer:  A mortgage contract is an agreement that goes by many names. It may be called a mortgage contract, mortgage agreement, loan agreement, or mortgage loan agreement. Regardless of its name this form of agreement is a contract made between the lending party, called the mortgagee, and the borrower, called the mortgagor. In your case you will be the mortgagee and your son would be the mortgagor.  A mortgage agreement states that the mortgagor/borrower will receive the funds he or she needs to purchase the home while the mortgagee/lender receives a lien on the property. For that reason a mortgage agreement is officially called a property lien. The property lien allows the borrower to take physical possession of the house as he or she pays off the loan. If the borrower defaults on the terms of the loan, this agreement gives the mortgagee the right to take possession back. The official mortgage loan agreement varies by state and can be finalized by a title company or a real estate attorney, dependent upon the laws of the state in which the property is located. In Illinois, a real estate attorney would be able to assist you in this matter. Attorney Cathe R. Evans Williams is a licensed Illinois attorney that practices real estate law. If you are seeking an attorney to assist you in the preparation of your loan agreement please contact Attorney Cathe Evans Williams of The Evans Williams Law Group at 708-991-7110 if you have any additional questions.... Read More

Question: Can an existing trust purchase property? Answer: There are several types of trusts.  These different types of trusts have different names and different purposes.  For instance there are Living Trusts vs. Testamentary Trusts. A living trust (or inter vivos trust) becomes effective during the grantor's lifetime; while on the other hand, a testamentary trust does not become effective until after the testator's (person who made the will or trust) death. There are also Revocable Trusts vs. Irrevocable Trusts.  A revocable trust reserves  the grantor the right to revoke the trust after it becomes effective, including the right to change any of the terms or provisions of the trust, then the trust is said to be a "revocable trust." If the grantor gives up the right to revoke the trust after it becomes effective, including the right to change any of the terms or provisions of the trust, then the trust is said to be an "irrevocable trust." Every trust is established for a specific purpose, and that purpose will dictate the form and the basic provisions of the trust.  The provisions of the trust will dictate whether property may or may not be purchased. An attorney would have to review the terms of the trust to determine if the trust allows the purchase of property. If you are seeking an attorney to assist you please contact Attorney Cathe Evans Williams of The Evans Williams Law Group at 708-991-7110 if you have any additional questions.... Read More

Question: Can a buyer sue the previous home owners for not disclosing information about a home defect? Answer: Illinois law requires sellers of residential real estate to disclose to prospective purchasers any known defects in the home being sold. The seller is not required to find potential problem s. However, in some cases the seller is required to inform you if they know of a problem. In your case, if the seller was aware of flooding in the basement and denied it the seller is at fault. For example, if the seller patched over or hid problem areas, or if the neighbors have told you about the seller's efforts to deal with a problem, the evidence is on your side. A home purchaser may recover damages from a seller and a real estate agent for material defects. In one Illinois case, the court held a real estate agent's silence to massive flooding problems in the home of which the agent had knowledge may be liable to the buyers. You should consult with an attorney to advise you if you have a case. Contact Attorney Cathe Evans Williams of The Evans Williams Law Group at 708-991-7110 if you have any additional questions. ... Read More

If in fact you used your home as "collateral" for a friend's student loan, that means a mortgage or deed of trust was executed for the loan amount and placed of record.  If that did not happen, then your property was not used as collateral.  You can confirm that by having an attorney (or an agent of a title company) inspect the public records to confirm the status.  If there is a mortgage or deed of trust placed of record on your property, you will be unable to sell it without paying off the liens.     ... Read More

You have indicated the estate has a value of about $80,000.00.  Certainly that would be enough to justify spending some money to preserve and divide up.  I understand from your comments that about $25,000 is owed on a mortgage.  You and your sibling should agree, if possible, on a way to keep the payments going so as to not lose the house to foreclosure.  In the meantime, confer with a good probate lawyer in your community.  He/she can help to locate the older sibling.  My guess is that he will be happy to participate some way if it means getting some money out of the situation.  If there was no will and no widow, your state law almost certainly would say that the 3 kids inherited the estate assets equally.  If you are required to make payments to preserve the house, and to pay for funeral, etc, I think you can be reimbursed eventually from estate assets.  Most likely, the house will be sold and the money from the sale would be available to pay costs first, reimburse you for necessary expenses, and then to be divided among the three of you.  The way to get it started is to confer with a good probate lawyer.  ... Read More

If you don't show up and defend the complaint, there will be a default judgment against you.  If you have a defense, and if the case is in small claims court, you should ask the court for a continuance (delay).  If there is time, this can be done by writing a brief letter to the judge explaining why you can't make the court date and filing it with the court clerk -- copy to the plaintiff.  If you don't have a good excuse, the judge may not grant the continuance.  If the case involves a large enough sum that a court other than a small claims court is handling it, the same procedure should be followed but it should be done by your lawyer.  You should find one in that event. If you don't have a legitimate defense to the complaint, you would be well advised to try to settle the dispute before the hearing date. ... Read More