Legal Question in Real Estate Law in Illinois
I bought a house with my parents a while back since then one of my parents passed away and in lieu to facilitate refinancing I signed a quit to claim deed a couple of years ago. Do I still have a legal rights to this property if my living parent passes away. Thank you.
3 Answers from Attorneys
The likely answer is "no," but you should send copies of the deeds to an attorney for review. Most certain would be to have an attorney order a title search. Then, you should also get the attorney's advice on the best handling of the property and your surviving parent may want to get advice as well. For several reasons, putting it back in both names may not be advised.
Without reviewing the relevant documents this is only a guess, but you might have an interest in the property if you are named in your surviving parent's will, or if there is no will, most likely you and your siblings would be the owners of the property.
If your living parent passes away without a will, then yes you most likely will have an interest in the property. However, if that parent has a will, then the will would determine where the property goes upon his/her passing. That may or may not be you.