Legal Question in Family Law in Illinois
splitting property
When we married we purchased a home, at the time my credit rating was bad so she used her brother to cosign. Both her and her brother are on title, but I am not.What do i have to do so i can receive my 50% of the property and after we sell the house , to split the equity.
1 Answer from Attorneys
Re: splitting property
There are really two questions here:
First, how can you be assured that you�ll learn about a sale of the house before it happens? If you are in the midst of a divorce, you could record a lis pendens notice in the chain of title setting forth your claim of right to the proceeds. If there is no divorce or other lawsuit, you could record a memorandum setting forth your claim of right to the proceeds. This does not ensure that you�ll be advised, but it improves your chances of knowing what�s going on, and might even protect your equitable rights to the property.
Your second question is what should you do to get �my 50% of the property and . . . split the equity�? Again, assuming you are talking about a divorce, you have no RIGHT to anything, not a penny. Dispense with the notion that you get fifty percent. You get what the judge gives you, and true, although the judge should distribute property fairly (which includes quite a long list of factors), its not the same as having a RIGHT to something.
These are the kinds of questions you should bring to your divorce lawyer. There�s so much more to consider. If you don�t have a lawyer, think about it. A personal attorney-client relation would allow you to provide more info, ask more questions, and receive more help.
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