Legal Question in Family Law in Illinois

Huh? Do you mean a marital settlement agreement in a divorce. Let's assume this is a marital settlement agreement. A lot of divorce lawyers are not real estate lawyers, and write up settlement agreements that don't always use the best wording for real estate issues. However, if this is a divorce situation it is most likely that you and your ex now own the property 25/75 as tenants in common, meaning if you die your 25% goes to your heirs or will beneficiaries, and her 75 would go to her heirs or will beneficiaries, so that you don't inherit from each other, and yes each of you would be responsible in those proportions as between the 2 of you. However there may be a mortgage that makes you equally liable on the debt, and other third parties that won't care how you've divvy'ed things up for the divorce, but the marital settlement agreement should identify who is responsible for what obligations. Take the document to an attorney who can help sort through these things, or if you had an attorney then you should ask him or her to give you a written guide as to your responsibilities. How property is divvy'ed up in divorce should be only one of many such portions of the agreement.