Legal Question in Real Estate Law in Illinois

Certificates of Deposit (POD) collateral for purchase of RE

Can Certificates of Deposit be used as collateral to purchase Real Estate property? If the CD's are named with POD's, would they not be paid out after death because they actualy become property of the lender?


Asked on 10/21/08, 3:30 pm

1 Answer from Attorneys
Nicholas Chrisos Nicholas G. Chrisos Attorney at Law

Re: Certificates of Deposit (POD) collateral for purchase of RE

I'm not sure about the 2nd question. But about the 1st question, it depends on what the other party will acept.

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Answered on 10/21/08, 4:10 pm


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