Legal Question in Real Estate Law in Illinois
If spouses own property, can one spouse's name be removed from the property during separation or divorce without having any other financial obligations for the property?
Asked on 10/27/15, 10:40 am
1 Answer from Attorneys
Michael Goldberg
Johnston Tomei Lenczycki & Goldberg LLC
The answer depends. If you are looking to remove a spouse from title, then yes the spouse can be removed from title by quitclaiming his/her interest via a quitclaim deed. However, if you are looking to remove the spouse from the financial obligation of a mortgage, then realistically the only way to do that is to refinance.
If you are looking to transfer property ownership through a quitclaim deed, a real estate attorney can draft the deed for you. If you are looking to refinance, then it is best to speak to a mortgage loan officer at a bank of your choosing.
Answered on 10/28/15, 7:12 am