Legal Question in Real Estate Law in Illinois

This may create unintended consequences. First, you may be exposing the property to your child's liabilities. I have handled a number of collection matters and bankruptcies where a parent was compelled to pay a debt or answer for an auto accident because the child was part owner of a property. Second, you may be legally deemed by the government as making a substantial gift that will require a gift tax return and the application of your annual and lifetime exemptions.

There is a new statute in Illinois that provides for transfer of property on death. That may be more what would serve your intentions, but your overall circumstances should be considered in a consultation.

I agree w/ Mr. Repay and an additional factor is that I hope your "child" is of legal age to receive title to real estate however you decide to do it.