Legal Question in Real Estate Law in Illinois

intestate

hy,

there is a co-signer on a property and the owner died.

the owner has 2 adult children living in the home. can those children continue on with the mortage, or do the co-signer now retains rights to the property?

THANK YOU,


Asked on 11/18/03, 12:50 am

1 Answer from Attorneys

John Pembroke John J. Pembroke & Associates LLC

Re: intestate

Rights to the property depend solely on the deed, not on the mortgage or other loan documents. You need to consult the deed, and probably a lawyer, to assess rights to the real estate,

Our comments are based on treating your question as a hypothetical. Accordingly, our comments could be substantially and materially different were we advised of all of the relevant facts and circumstances. Our comments are by necessity general in nature, and should not be relied upon in taking or forgoing action in your circumstances without retaining an attorney. In order to fully explore your legal matter, you should meet with us or another attorney and bring to any such meeting all relevant documents and correspondence, and any other relevant facts.

We are not hired to be your attorney, and no attorney-client relationship exists between us, unless and until you enter into a written retainer agreement with us, tender the agreed amount for a retainer and it is accepted by us. We reserve the right to decline representation should circumstances change.

As you are aware, in Illinois there are various deadlines for filing a complaint, filing an answer to a complaint, or taking other action in order to preserve your legal rights, and avoid a complete loss of those rights. You should retain counsel immediately in order to be fully advised of your rights, and to be fully informed of the applicable time period within which those rights must be asserted. If you were to delay in doing so, it might result in your potential cause of action being forever barred.

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Answered on 11/18/03, 7:35 pm


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