Legal Question in Real Estate Law in Illinois

I have been advised that in Illinois a Memorandom of Contract for deed can be notorized and recorded

in place of the CFD as long as both parties have a signed,dated,notorized copy of the contract in their possesion. If this is so, does it have to include the purchase price of the residential property?

Thank You,

Mike Winzeler


Asked on 2/03/10, 1:28 pm

2 Answers from Attorneys
Joseph Michelotti Michelotti & Associates, Ltd.

No.

In Illinois its called articles of agreement for deed. The articles are recorded. You can, but do not need duplicate originals

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Answered on 2/08/10, 2:34 pm

In addition to Mr. Michelotti's comments, you do not need to put the purchase price in what you record.

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Answered on 2/08/10, 10:14 pm


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