Legal Question in Real Estate Law in Illinois

How flexible can contract for deed agreements be?

My relative needs some steady income as he is in a permanant care facillity and out of his home.

I would like to buy the house CFD with a legal promise to buy when his estate is being settled. Can I have that written in to the contract so no one can make claim to the house after he dies?

While he is alive, who is responsible for property insurance and taxes?


Asked on 1/20/02, 4:34 pm

1 Answer from Attorneys
Bruce Buckrop Bruce Buckrop

Re: How flexible can contract for deed agreements be?

It is all negotiable, but care must be given when dealing with a relative, as to insider deals, and mental capacity, that would subject the deal to being set aside. Usualy taxes and insurance go with the contract for deed buyer.

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Answered on 1/21/02, 10:38 am


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