Legal Question in Real Estate Law in Illinois
Family Estate
Could there be a stipulation put into real estate contract stating, no family can have a vested interest in the property, own or rent from futurebuyer once the property is sold?
Asked on 3/17/07, 10:31 pm
2 Answers from Attorneys
Mary McDonagh
McDonagh-Faherty Law Offices
Re: Family Estate
No. That is a restriction on alienation and is not allowed in Illinois. Once a property is sold, you can not restrict the owner on selling, etc. in the future.
Answered on 3/18/07, 2:47 pm
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