Legal Question in Family Law in Illinois
Liability For Spouses Medical Bills
I am single thinking of marriage. We have a condo in joint ownership. If I marry and spouse has enormous medical bills, can I lose the condo to pay for medical bills? If single can they force me to sell the condo? What financial part would they be able to claim (Half the price of the condo?) Under which senerio would my interest in the condo be best protected?
2 Answers from Attorneys
Re: Liability For Spouses Medical Bills
The best way is to hold title by "tennents by the entirety." Creditors cannot get to any part of the condo that way. You must be married to do this. If you are single the protections are less. Creditors can get to half of the equity, since it's joint tennancy. You might consider putting the condo in your name only. Please call for an appointment.
Re: Liability For Spouses Medical Bills
Consult a real estate attorney to properly protect the condo. There are a number of different ways to hold title that could provide protection. To do it right, call a lawyer