Legal Question in Real Estate Law in Illinois
My husband and I co-own a house with another couple in IL. We are looking to dissolve the relationship and need to remove one of the couples from the title. How do we go about doing this?
Asked on 3/23/10, 12:14 pm
3 Answers from Attorneys
Joseph Michelotti
Michelotti & Associates, Ltd.
either one side buys out the other or there is a partition
Answered on 3/28/10, 1:19 pm
Frank Vosholler
Law Office of Frank L. Vosholler III
Or a quit claim deed
Answered on 3/29/10, 6:36 am
Thomas Moens
Moens Law Offices, Chartered
Be careful if you have a mortgage on the property. If one of the couples deeds their interest to the other, that couple would remain responsible for the debt.
Answered on 3/29/10, 7:22 am