Legal Question in Real Estate Law in Illinois
My realtor asked could she rent my home while she tries to sell it in a short-sell. At this time my home is going into foreclosure. I will not charge her rent , because she is just staying in my home to protect it from vandals and the pipes bursting in the winter months. I don't know if this is a good idea? I don't want the mortgage company having a problem with this when the property becomes sold. Is she considered a squatter?
Asked on 10/10/12, 3:25 pm
1 Answer from Attorneys
Until the house is sold as a result of the foreclosure it is yours to rent but even if you don't charge rent you should have a lease that protects you in case the realtor suddenly refuses to move when it's time. Have an attorney help you do this.
Answered on 10/10/12, 10:08 pm
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