Legal Question in Wills and Trusts in Illinois
Father's Property
My father passed away in April of 2005.
My Father bought his home in 1993 and was sole person listed on deed until 2003 and has made all mortgage payments until his death. My father refinanced and took out a 2nd mortgage on his home in 2003 and added stepmother to title and loan to help rebuild her terrible credit. He paid off all her credit cards and 14% car loan with the 2nd mortgage. She has never made any payments on these loans.
I was left as the sole beneficiary in his will. Stepmother claims house is hers and hers alone but has not made 1 payment on the two mortgages since her claim. We are afraid the house is about to go into foreclosure and we don't want this to happen. What can we do?
2 Answers from Attorneys
Re: Father's Property
If your step-mother was a joint tennant with your father, she owns the property. There is nothing you can do about that. If she wasn't a joint owner, then you have to open an estate. You have to do that before a foreclosure is filed, and notify the bank. If you need help please call me, 773-237-3516.
Re: Father's Property
I am assuming that when your father put your stepmother on the deed, he did so in joint tenancy with right of survivorship. If so, your stepmother is correct. It's her house, subject to the mortgages.
The will governs property which does not otherwise transfer by operation of law. For example, if your father's house was in his and your stepmother's name as tenants in common, one-half would be owned by your stepmother and one-half would be owned by you. Similarly, if there are any cars, bank accounts, stocks, etc. that are in only your father's name, you would inherit such property under the will. If it adds up to over $100,000, you would have to probate the will, if not, you can transfer the property with a small estate affidavit.
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.
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