Legal Question in Real Estate Law in Illinois

I strongly urge you to discuss the matter with an attorney. The circumstances may dictate income tax consequences and other legal ramifications. DIY is likely to cost you down the road.

I don't quite understand what you did. If the house was in your wife's name and you gave her a quitclaim deed, that makes little sense other than perhaps to release your homestead interests. And if you gave her a deed once, you can't give her a deed again. But if you're saying it was in her name, she gave YOU a deed and you want to give it back to her again, that is possible. But you don't even say if any of the deeds have been recorded! Without recording, the deeds can be "undone" too. But if they were recorded, you don't say if any transfer tax was paid. If so, then value was declared. If not, the assumption between husband and wife is a gift, and unless you have several millions of dollars of assets, there should be no gift or estate tax consequences. But as he said, go take all the paperwork to any attorney to review and advise you. OK?