Legal Question in Real Estate Law in Illinois
I live in Ill, Cook county and plan on going through foreclosure.Both my name and my sister's name is on the deed but the mortgage loan is under my name only. I want to know if I could have my sister's name removed from the deed so she wouldn't have to deal with any of the process that I'll be going through. Please advise what would be the best option. Thank you.
2 Answers from Attorneys
Is your sister a guarantor on the mortgage note - or is she just on the deed? If she is just on the deed, she will technically be part of the lawsuit. However, she would not be liable for any deficiency on the mortgage. In theory, she could quit claim to the property to you at any time. Please let me know if you have any further questions: [email protected]
Based on the information provided, all that is necessary is a quitclaim deed from her to you.
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